Dubai is set to host the grand finale of Eureka! GCC 2023, Asia’s largest business model competition, later this month in the presence of the UAE’s Minister of Tolerance and Coexistence, His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan.
The Eureka! GCC finale at the Habtoor Palace, Dubai on May 26 will feature ten finalists, chosen from amongst 150 business plans from aspiring entrepreneurs and budding startup founders after a rigorous competition over seven months to assess their innovative ventures and commercial concepts. Each finalist will pitch their business ideas to a panel of prominent investors, venture capitalists, CEOs and industry leaders, to win the coveted Eureka! GCC title and a share of prizes worth US$100,000.
Participants in the sector-agnostic competition, now in its second year, received a holistic entrepreneurship programme featuring business insight and knowledge, mentorship and other training appropriate for early-stage startup companies. Following an extensive screening process, 27 semi-finalist teams were selected to participate in advanced entrepreneurship training, with tailored workshops focusing on effective business planning and personalized mentoring from seasoned industry professionals over a five-week period. Ten finalists were chosen, based on mentors’ recommendations and business reports.
The Eureka! GCC 2023 competition is powered once more by Gulf Islamic Investments (GII), a leading UAE-based Shari’ah-compliant global alternative investment company with over US$3 billion of assets under management. Its co-Founder and co-CEO, Pankaj Gupta commented, “Startups have the potential to create significant business growth and have already made a significant impact on the GCC economy in the past decade. Eureka! GCC provides the right platform for entrepreneurs to develop and launch their ideas, showcase their ventures, network with potential investors, and fast-track their growth.”
Gupta added, “We are most grateful for the support received from government ministries and industry leaders, which has undoubtedly contributed to the success of this entrepreneurship programme.”