DUBAI — Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, announced the signing of several deals between three UAE-based companies, namely Emirates NBD, Nikai Group, and Sanofi, and startups that were selected as winners of the Market Access program’s second cycle.

A total of 4 memoranda of understanding (MoUs) were unveiled during a deal signing ceremony which was recently held at Dubai Chamber’s premises and attended by senior Dubai Chamber officials, and representatives from Dubai’s business community.

The MoUs were signed in the presence of Majid Saif Al Ghurair, Chairman of Dubai Chamber, and Hisham Abdullah Al Shirawi, 2nd Vice Chairman of Dubai Chamber. The agreements, covering a wide range of industries, business projects and objectives, will remain valid for one year. Under the terms of the MoUs, all parties will explore potential areas of collaboration to gain mutual business benefits. Emirates NBD signed an MoU with knowledge-based performance improvement startup Tuitify to create an employee engagement platform for the bank. Emirates NBD also signed an MoU with fintech startup FOO to develop a payment platform that supports virtual point of sales, payment via QR code and reporting.

Tuitify signed a second deal with Sanofi to enhance its relationships with its customers through the startup’s social media platform, while Nikai Group signed an agreement with consulting startup Rib & Wit to work together to develop corporate digital solutions, innovative services and emerging technologies solutions for smart concepts in digital economy.

In his welcome remarks, Hisham Abdullah Al Shirawi, 2nd Vice Chairman of Dubai Chamber, noted that the response to the second cycle of the Market Access programme was overwhelming with more than 150 startups submitting business ideas and solutions, marking a 15% increase in submissions compared to the first cycle.

“The winning startups are a true reflection of the UAE’s thriving entrepreneurial eco-system which continues to mature and evolve. We congratulate them all on this big accomplishment and hope that the signed deals will take their businesses to the next level and inspire other startups to join the program in the years to come,” said Al Shirawi. — SG