From February 26 to 28, a total of 24 forward-thinking tech companies from London will be visiting Dubai in search of fresh business prospects.

Participants on the trip will be exposed to a range of government officials, banks, and regulators by representatives of each tech business. The trip is organized in collaboration with the Department of Economy and Tourism (DET) in Dubai and Informa plc, the events, digital services, and academic knowledge company.

In keeping with the recently unveiled D33 Economic Agenda, DET aims to rank Dubai among the top three cities in the world for living, working, and investing. It is in charge of several economic programs and future-proofing efforts. It is in charge of a broad range of services, including marketing and promotion of the major economic sectors, licensing, and categorization, in addition to special projects.

In addition, corporations will visit AstroLabs, a platform for company expansion in the Gulf to assist them in growing their services throughout countries such as Saudi Arabia and the United Arab Emirates.

The 15 participating fintech companies will have the chance to network and participate in a "shark tank" event where they will present to many investors at Capital Club Dubai, an elite business club that helps members find business possibilities.

"Our vision is to be the voice of business in the region, by bridging gaps for growth and facilitating collaborations between the private sector and government," said Mohamed Karmaoui, general manager of Capital Club Dubai. The entire startup ecosystem is included in Capital Club Dubai, which include mentors, investors, business leaders, and entrepreneurs.

Expand London Worldwide

The trade mission is a component of London & Partners' 12-month Grow London Global initiative, which helps capital-based companies go global.

The UAE is a very interesting market for London-based companies moving worldwide, with the MENA venture capitalist ecosystem already worth $3 billion, according to Sara French, director of Grow London Global at London & Partners, who spoke about the opportunities given by the region.

Eighty-two percent of banking customers in the Middle East are open to using fintech solutions, and financial institutions are embracing digital change. In an effort to speed the transition to net zero emissions, the UAE has simultaneously developed a number of green economy and green funding programs.

We met with a range of delegates at a pre-mission briefing hosted at London & Partners' headquarters to learn more about their goals prior to their departure for Dubai.

Building connections in Dubai

One of the businesses selected to travel to Dubai later this month with London & Partners is the digital finance startup Greengage.

Sean Kiernan, the CEO and creator of Greengage, told The Fintech Times that the mission presents a great chance to network with local investors, partners, and potential clients in the area.

In addition, Kiernan said why the company is especially drawn to Dubai as a location: "We're really keen on the UAE because there's a bit of a crypto hub there and a lot of our clients are in that space." I'm eager to collaborate with someone to give them access to a Web3 strategy.

Co-founder and chief commercial officer of nature-based solution provider Earthly, Lorenzo Curci, is another delegate whose goal is to meet more of the local players in Dubai. "The main thing is that I'm incredibly excited to meet the local companies and players. I have some familiarity with Dubai, but my main goal is to learn more about the locals, their businesses, and their aspirations," Curci told The Fintech Times.

We also had a conversation with Wyndham Plumptre, the head of ventures at Future Arc, a hybrid innovation consultant that helps governments, corporations, and growing enterprises by providing advice and developing new digital platforms.

Plumptre said, "We've seen Grow London Global get better and better, which is great. We were part of cohort one." Our goal is to build new relationships while maintaining the ones we already have. We've been concentrating a lot on Abu Dhabi specifically, so this is a chance to get to know the larger Dubai environment.
 

We've discovered that focused initiatives such as these have had a significant influence on us. The amount of work and effort required to coordinate everything with all the many parties involved is quite evident. Thus, that has been of great assistance.

Devina Paul, CFO and deputy CEO of Zumo, a platform that provides digital assets as a service, was one of the other delegates who discussed the significance of interacting with regional leaders and institutions: Zumo is excited to be a part of London & Partners' trade mission in Dubai. This is a crucial opportunity for us to strengthen our ties locally and engage with the vibrant digital asset market in the United Arab Emirates.
 

With one of the highest rates of cryptocurrency ownership worldwide and a youthful, tech-savvy populace, the United Arab Emirates presents unparalleled prospects for innovation. Its progressive laws and dedication to a sustainable economy are very similar to Zumo's goals.

Our goal is to enable financial institutions in the United Arab Emirates to take advantage of the rapidly expanding digital asset market while also supporting the country's sustainable economic growth agenda. With the help of our Crypto Carbon Insight package, these institutions will be able to align with global and UAE policy objectives, use sustainability as a lever for profit creation, and set the course for the future of the digital asset market.
 

"We want to set an example for environmental sustainability and look forward to working with forward-thinking financial institutions that are fostering the growth of digital assets in the UAE."

aiming for Dubai

Dubai is seen by many of the trade mission's member companies as providing particularly alluring prospects for corporate expansion. The region is becoming a popular destination for London's fintechs and other businesses, for whatever reason—its advantageous position that allows it to be connected to other important markets, the quick development of its financial ecosystem, or the plethora of chances it offers.

Thomas Mitchell, client director of Oxford Risk, a behavioral finance company, added during the pre-mission briefing, saying, "We see the Middle East as a key market for us, partly because the market is doing very well and we recognize that there's a lack of behavioural finance expertise within that marketplace." Additionally, we see it as a launching pad into regions like Asia and possibly Africa.

"Collaborating with large banks and financial institutions to close the advisor gap—if you can't afford an advisor, we want to see if we can be there to support your financial decision making—is something else we're really interested in doing to better serve the industry."
 

The onboarding and screening platform KYC Hub was founded by Farnoush Mirmoeini, who finds the region's dedication to innovation to be quite appealing: "We are impressed by the legislators' dedication to growth and creating the ideal environment for fintech, as well as their proactive attitude to innovation.

Strong financial crime mitigation should be a top priority as the United Arab Emirates grows in prominence in the global financial sector. We are in a unique position to enable ecosystem members to identify and address financial crime risk more quickly and effectively.
 

"We are currently dedicating major effort to achieve sustainable growth in the region after signing a few remote clients in the past quarter, which has enticed us to focus on the UAE in our growth strategy.”

Getting the message out

Ctrl Alt was one of the newest companies to sign up for the Grow London Global program in January. The goal of the B2B provider of alternative asset solutions is to make the trade mission their priority.
 

We learned about the significance of the trade mission from Jack Denton, an associate at Ctrl Alt, who told us that the company wants to build its reputation in addition to expanding its operations: "We are a new company that only received funding in November, so our main goal is to establish a name for ourselves."

"As a fast-growing B2B alternative asset solutions startup, having focused support is key to our success, particularly as we explore global opportunities," said Matt Ong, founder and CEO of Ctrl Alt, in elucidating the significance of the opportunities and support provided by the Grow London Global program. We are excited about our journey to Dubai and the chance to network with important figures in the financial services industry and other related fields in the area.