Dubai, United Arab Emirates: In a collaborative effort, the Entrepreneurship World Cup 2024, Startupscale 360 (the UAE National Organiser), and Al Ghurair (National Co-Host) are proud to announce the winners of this year's Entrepreneurship World Cup, a global pitching competition geared at empowering outstanding start-ups. The event, which took place on Friday 31st May at Swissotel Al Ghurair, Dubai, reflected the UAE’s vibrant entrepreneurial spirit and innovation landscape.

The Entrepreneurship World Cup occurs simultaneously in over 100 countries through virtual and in-person events. More than 100 start-ups applied for the UAE edition of the Entrepreneurship World Cup, of which Al Ghurair was the National Co-Host. Other UAE partners include Sorbonne University Abu Dhabi, Heriot Watt University Dubai Campus both as Semi-final Partner, London Business School and Entrepreneurship and Entrepreneurship and Private Capital at London Business School both as Knowledge Partner, Founder Institute GCC as Accelerator Partner, Emerging Advanced Research Acceleration for Technology, Security and Cryptology Center (EMARATSEC) as Ecosystem Partner, and Miraki Global as Sponsor.

Winners were announced in the presence of distinguished guests and dignitaries including Audiomatic, an AI-driven platform that generates music and sound effects for videos, automating audio-related tasks in content production; Socialee, a video commerce ecosystem with real reviews from real people that allows creators to monetize their contents, and PaySky, a Digital financial services providing White-labeled to Banks, Central banks, Telcos and FinTechs. captured first prize in idea stage, early stage, and growth stage category respectively at the national finals of the Entrepreneurship World Cup 2024 (EWC).

A distinguished panel of judges, including Al Ghurair's Chief Information Officer Divya Bathija, evaluated participants based on four key parameters; product, potential, predictability, and people. Other Judges included Jane Khedair, London Business School, Michael Paduano, KPMG Lower Gulf, Hala Ebrahim, Antler, Amer Fatayer, Dubai Future District Fund, Khaled Lababidi, Arbor Ventures, Anton Abdukhamidov, Gurudev Capital, Yevgeny Bebnev, Alaris Capital and Cristopher Dix, Beco Capital. The event featured two panels with esteemed speakers, including Reem AlJneibi, Stellr, Dr. Hoda A. Al Khzaimi, New York University Abu Dhabi, Sameer Sortur, Founder Institute GCC, Usman Tareen, Bee’ah, Nadine Benchaffai, Dana Venture, and Vikas Tawani, Data Direct Group. The finalist received the prize from Emile Douaihy, CEO of Al Ghurair Foods-CPG.

The winners of the 2024 Entrepreneurship World Cup UAE Final are:

  • Idea Stage: Audiomatic, an AI-driven platform that generates music and sound effects for videos, automating audio-related tasks in content production.
  • Early Stage: Socialee, a Video Commerce ecosystem with Real Reviews from Real People, starting off with beauty in the GCC, and
  • Growth Stage: Paysky, a Fintech Ecosystem Enabler providing digital payments solutions to Central banks, Banks and Telcos.

Other startups who were recognised with special choice awards are as under:

  • UBQT, runner up, Idea Stage, Finalist
  • Takeem, runner up, Idea Stage, Finalist
  • The Intern, runner up, Idea Stage, Finalist
  • Revent, runner up, Early Stage, Finalist
  • FortyGuard, runner up, Early Stage, Finalist and special choice awards “Sustainability” category
  • VectorGlobe, runner up, Early Stage, Finalist and special choice awards “ClimateTech” category
  • Momint, runner up, Growth Stage, Finalist
  • Archireef, runner up, Growth Stage, Finalist
  • Datainsights, runner up, Growth Stage, Finalist
  • SehaaOnline, special choice awards “HealthTech” category
  • Yu.sh, special choice awards “Design” category
  • Nature Print, special choice awards “Rising Star” category
  • Hubpay, special choice awards “FinTech Forward” category
  • Watermelon, special choice awards “F&B Ecosystem” category
  • Urent, special choice awards “Mobility” category
  • ReTake, special choice awards “Circular Economy” category
  • HydroArtPod, special choice awards “AgriTech” category
  • Baby Store, special choice awards “Female Boldness” category
  • Sulmi, special choice awards “Emirati Make-a-Difference” category

“The UAE’s economic agenda encourages a dynamic start-up ecosystem to drive competition and innovation,” said John Iossifidis, Group CEO Al Ghurair, who delivered the keynote speech at the event. “Supporting platforms that enable entrepreneurs at every stage of their business journey to access funding, mentorship, and community is a collective responsibility for all those vested in strengthening the UAE’s long-term development. Co-Hosting today’s Entrepreneurship World Cup final demonstrates our staunch commitment to empowering the entrepreneurial ecosystem and contributing to the ambitions of the Dubai Economic Agenda D33. This year’s winners represent the quality and calibre of the UAE’s start-up talent and represent a bright future for the global economy.”

Remarking on the event, Swethal Kumar, Founder and CEO of Startupscale360 FZE, said: “The United Arab Emirates won Best Campaign of the year in Melbourne in 2023 for organizing the best national final globally out of 200+ countries. Hence, this year’s competition raised the bar for quality, impact and innovation, as each start-up demonstrated unparalleled passion and ingenuity, displaying a fierce spirit of entrepreneurship. While the competition was tough, the winning start-ups outshined across all criteria, demonstrating not only sound thinking and research but a plan for long-term growth that would be attractive to investors and demonstrated the longevity of the business model. I thank all our committee members and judges across all rounds in the last 6 months of journey for selecting the best finalist.”

Audiomatic, Socialee, and PaySky will be advancing to global winner pool where they will be further evaluated for selection of EWC 250 - the next round of the global competition against applicants from 200 countries. All founders advancing to the next round will participate in a Boot camp which features virtual training and mentoring sessions targeted to their company’s current stage and growth trajectory. This is a key step to qualify for the EWC Global Finals.

The top 100 finalists globally will advance to pitch live for a share of USD 1 million in cash prizes at the EWC Global Finals held in Riyadh, Saudi Arabia in Fall 2024. Global finalists also gain automatic entry into the GEN Starters Club, an invitation-only community of talented founders from around the world. 

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About Entrepreneurship World Cup 2024:

The Entrepreneurship World Cup (EWC) is one of the biggest and most diverse startup pitch competitions and support programs of its kind, featuring more than 430,000 entrepreneurs from over 200 countries and offering winners life-changing prizes.

Since launching in 2019, the EWC has awarded $4 million in cash prizes, $266 million in in-kind prizes and provided opportunities for entrepreneurs at all levels – from idea stage to scale-up – to reach the next stage in their journey by providing them with free access to world class training and resources, enhancing their visibility, and working to connect them to mentors and investors.

The Entrepreneurship World Cup is hosted globally by the Global Entrepreneurship Network and Monsha’at.

About Startupscale360:

Established in 2020, Startupscale360 is a startup ecosystem builder based in Dubai, the United Arab Emirates. The firm is sector agnostic and works with all kinds of Tech startups. The firm focuses on creating a Hub-and-Spoke model for connecting all key stakeholders of the ecosystem. The firm has five key verticals Virtual Incubation, Community, Innovation Lab, Academia, and Venture Studio.

Startupscale360 has been the official National Organiser of Entrepreneurship World Cup in the United Arab Emirates Since 2022.

About Al Ghurair: 

Al Ghurair is one of the largest diversified family business groups in the Middle East, with operations in six distinct industry sectors: Foods and Resources, Properties, Construction and Services, Energy, Mobility and Ventures. Established in 1960 as a trading business, Al Ghurair was one of the first pillars of industry and commerce in the emerging United Arab Emirates.  

From modest beginnings, and with a proud history of innovation and entrepreneurship, the Al Ghurair family name has become synonymous with the heritage, evolution and vision of the prestigious country itself.  

Headquartered in Deira, the business’ diversified operations span more than 50 countries across the globe, employing approximately 28,000 people. Today, Al Ghurair continues to build on its enduring 60+ year legacy, guided by its purpose: ‘Enhancing Life’, as it strives to facilitate meaningful and sustainable change across the communities within which it operates. 

For more information, please visit: www.al-ghurair.com and www.startupscale360.com

For media enquiries, please contact: media@al-ghurair.com and Kathryn Forrest, Director for Communications, Global Entrepreneurship Network, Kathryn@genglobal.org