Partnership Between RAKEZ and the UAE-India Comprehensive Economic Partnership Council
The Ras Al Khaimah Economic Zones Authority (RAKEZ) has signed a strategic partnership with the UAE-India Comprehensive Economic Partnership Council, aiming to enhance collaboration among entrepreneurs in both countries. This partnership seeks to support Indian and Emirati startups, contributing to the creation of a joint platform that fosters innovation and economic growth.
Partnership Details
The memorandum of understanding was signed in the presence of Yaser Abdullah Al Ahmad, Head of Government and Corporate Communication at RAKEZ, and Ahmed Al Junaibi, Director of the UAE-India Comprehensive Economic Partnership Council. This partnership is expected to provide the necessary resources to support Indian startups and facilitate their entry into global markets.
Al Ahmad stated, “This partnership represents a strategic step towards aligning economic policies with entrepreneurial opportunities.” He explained that collaborating with the UAE-India Comprehensive Economic Partnership Council will enable RAKEZ to facilitate the entry of startups into the Emirati market, thereby enhancing their growth potential.
Call for Participation
Under the memorandum of understanding, both parties will implement a series of Emirati-Indian startup initiatives aimed at identifying and supporting innovative Indian projects. Twenty startups will be selected based on a comprehensive evaluation to participate in a prominent event in New Delhi, where five winners will be chosen to receive incubation support and opportunities to enter the Emirati market.
In this context, Al Junaibi noted that more than ten thousand applications have been received from Indian startups, reflecting the dynamic strength of India’s entrepreneurial community and highlighting the growing role of the UAE as a global innovation hub.
Comprehensive Support for Startups
Plans indicate that RAKEZ will provide full support to one of the five winning companies, offering comprehensive sponsorship and an integrated setup package to facilitate their launch in the UAE. In this regard, Rami Jalad, CEO of RAKEZ, remarked, “Indian startups are at the forefront of global innovation, and their increasing interest in the UAE reflects the effectiveness of the business ecosystem in Ras Al Khaimah.”
The support provided is not merely initial assistance; it aims to empower innovative ideas to transform into tangible realities that benefit both the Emirati and Indian economies. This partnership between RAKEZ and the UAE-India Comprehensive Economic Partnership Council represents a significant opportunity to support entrepreneurs and innovative projects in the region.