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Angel Investment Initiative in Dubai for Kerala Startups

In Business
March 01, 2022

KOCHI:
Kerala Startup Mission (KSUM) is singing up with Dubai Technology Entrepreneur Centre (Dtec) to enable the state’s nascent firms to network with the companies in the Gulf.

The decision comes after KSUM formed an angel investing collective in Dubai that aims to benefit startups in Kerala.

The proposed pact is in continuation of IGNITE 2022, which KSUM organized earlier this week to inspire investors in the Middle East to invest in Kerala’s tech startups. IGNITE envisaged an Angel Investing Network comprising expatriate Indian entrepreneurs who wish to invest in Kerala’s startups. The event saw the convergence of successful Malayali entrepreneurs and industrialists along with senior officials of the state government.

The February 27 conclave at Dubai was organized jointly by UAE industrialists’ organization called International Promoters Association, ecommerce online platform called MalayaliBusiness.com besides KSUM. Addressing the meet, KSUM director P.M. Riyas said startups in Kerala, too, merited heavy investment at a time when the knowledge economy was gaining an upper hand across the world.

Malabar Angel Network Chairman Shilen Sugunan led a master class on the vitality of angel investment in Kerala. Fresh To Home Cofounder Mathew Joseph shared with the investors in Dubai the challenges he faced as an entrepreneur and the recent changes in the technologies across the segment. iWire Global Chairman Ahmed Fasih Akhtar spoke about the newest possibilities of IOT (internet of things). Surveysparrow founder-CEO Shihab Muhammed shared the journey of his Kochi-based startup.

IGNITE on Sunday saw the announcement of iWire Global investing in KSUM-incubated Fops startup. The conclave also staged pitching by other KSUM startups such as Farmers Fresh Zone, channeliam.com and Transight.

The proceedings at IGNITE 2022 were led, among others, by IPA Chairman V.K. Shamsudeen and KSUM representative Nasif N.M. The event hosted an expo by several companies.

KSUM is a nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.