Blast Off to startups in UAE and Israel: Concord for both the countries will be prodigious for the Startups

Problems are everywhere but nagging the venture capitalist will never create an own strategy for the development of the business environment in the UAE & Israel. But recently, leveraging relationships beyond the two countries’ borders results in economic vitality, especially in the business sector, with startups’ efficient involvement.

New framework conditions urged by Dubai and Abu Dhabi created UAE with a better business economy for startups. Due to the changes in the diplomacy policies, there was chipping away from the UAE’s business environment, establishing more than one-third of startups from the Middle East and North Africa with potent growth in the technology sector.

According to Israel’s economy ministry, it reveals that more than 40 percent of the country’s export comes from the high-tech sector stating with an example of an industry that has the nickname startup nation.

Yesterday on Saudi-based Arab News, an entrepreneur stated that “The new partnership makes a compelling and cogent case. UAE has the financial capital above what can be put to effective use within the country, so we have sovereign wealth funds. Israel is advantageous in terms of human capital and ingenuity from all around the world. It’s a perfect fit” he added.

A deal normalizing ties in a jiff between UAE and Israel divulged a Tel Aviv technology, head of an organization received dozens of LinkedIn invitations from several nationals of the UAE. In August, after one month of a diplomatic step forward, a startup CEO of National Central, Mr. Eugene Kandel, reveals Israeli technology sales in Dubai. The startup also tries to bridge the gap between the Israeli government, businesses, and organizations for more usage of Israeli technology companies.

Mr. Kandel added that “The launching of public business ties can provide a lot of opportunities for many Israelis”.

The organization also reveals that immediately after the August 13 announcement of diplomatic concord, the number of Emirati users in the Startup National Central platform raised to 122 percent. Over time, visiting the web page escalated to 600 percent.

According to the internal study, the investment in Israel’s startup sector upturned to 33 percent worth $4.6 Billion (Dh16.8 billion) in the first two quarters. Mr. Kandel added that “Israel must now tap into the unrealized potential with doors opening to the Gulf”.

In the coming weeks, an Israeli investment tycoon Mr. Erel Margali of JVP Margalit, which handles cyber security, artificial intelligence, and financial technology, plans to forward a team of representatives to UAE. Here, Mr. Margalit said that he wants to invest in young, dynamic, smart Arab entrepreneurs. He also added that he is closely watching the Emirates as a country of tech innovators, rather than just customers. And his goal is to open a startup incubator in Dubai. It’s our goal, it’s our dream, says Mr. Margalit. But “This would serve as a gateway to the whole region” he added.

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