Eureka! GCC 4th Edition Announces Competition Lineup: 30 Semi-Finalists to Shape the Future of Entrepreneurship
Eureka! GCC 4th Edition Announces Competition Lineup: 30 Semi-Finalists to Shape the Future of Entrepreneurship
300+ startup registrations lead to selection of Top 30 semi-finalists in 4th edition of Eureka! GCC
• Finalists to compete for prizes worth $100,000 at Grand Finale, 28-29 May 2025, Al Habtoor City Hotel Collection, Dubai
26th May 2025, Dubai (UAE) – Eureka! GCC , Asia's leading business model competition, returns to Dubai this year with a bigger platform and broader ambitions to champion the Gulf's most promising startup ventures.
Now in its 4th edition, Eureka! GCC is being held under the patronage and in the presence of H.E. Sheikh Nahyan bin Mabarak Al Nahyan, Minister of Tolerance & Coexistence, and with the attendance of H.E. Sunjay Sudhir, Ambassador of India to the UAE, further underscoring the platform's regional and diplomatic significance.
Since its inaugural edition, Eureka! GCC has evolved steadily into a transformative force for early-stage businesses, fostering entrepreneurial growth and community-driven innovation across the region. The competition has drawn over 300 registrations from across the GCC and beyond, reflecting the region's rising entrepreneurial momentum.
After a rigorous evaluation process, the Eureka! GCC team has shortlisted the Top 30 semi-finalists, spanning sectors from health-tech and fintech to sustainability, AI, and education technology. Standout ventures include Nema AI, developing AI-driven healthcare diagnostics; Payvista, offering next-generation fintech solutions for underserved markets; and Instawrap Technical Services, creating sustainable alternatives to traditional packaging.
Participants this year represent a truly global mix, with startups from the GCC; UAE, KSA, Oman and from international markets such as India, Jordan, Turkey, the UK, and Pakistan. The semi-finalists receive an intensive Entrepreneurship Program, featuring hands-on workshops, speaker sessions led by industry leaders, and one-on-one mentorship. They also benefit from tailored guidance to sharpen their strategies and pitches ahead of the final stages.
At the Elevator Pitch round in Dubai, the 30 semi-finalists present their ideas live before an audience of mentors and investors. The Top 10 finalists advance to the final phase of the competition, pitching their refined business models to a distinguished panel of jury members. The Grand Winners, including First Place, Second Place, and the Startup Nominee Award, will be announced during the Grand Finale's Gala Dinner, with a total prize pool of USD 100,000.
Among the notable speakers engaged in this year's program are Trey Goede, GCC Start Up Investor/Mentor; Deepak Ahuja, CEO & Co-founder of iACCEL GBI; and Rajesh Garg, CFO of Landmark Group — all offering invaluable insights on scaling startups, fundraising strategies, and navigating the Gulf's evolving business landscape. GII's associate partners for Eureka! GCC – iACCEL GBI, Crowe UAE, Headstart, Its Her Way, Encubay, LaunchShe, Startup Middle East, Diwan Hub, Bits Pilani and Ecobee – have also been instrumental in providing mentorship, training, and investment opportunities that are shaping the region's next generation of entrepreneurs.
Commenting on the 4th edition, Pankaj Gupta, Co-Founder and Co-CEO of GII and Co-Founder of Eureka! GCC, said: 'At GII, we believe that entrepreneurship is the driving force shaping the Gulf's economic and social future. Each year, we are humbled by the boldness, ingenuity, and resilience we see among our young entrepreneurs. Their ventures are solutions to real-world challenges and catalysts for lasting impact. We are proud to stand behind this movement, alongside the visionary support of Dubai's leadership and our partners across the region.'
As Eureka! GCC 4th edition moves toward its grand finale, the spotlight remains firmly on the ideas and individuals reshaping the Arabian Gulf's entrepreneurial future. With an expanded focus on emerging sectors and deeper mentorship engagement, this year's competition is building a dynamic, innovation-driven ecosystem across the region, encouraged by Dubai's benevolent business-led environment.
-end-
About Eureka! GCC
Eureka! was founded by the Entrepreneurship Cell of the Indian Institute of Technology (IIT) Bombay, a leading worldwide technology body, and powered by GII, a leading UAE-based Shari'ah-compliant global alternative investment company with over US$3.5 billion of assets under management. Eureka! GCC aims to enable a low-risk environment to boost entrepreneurship, bridging the gap between ideas and enterprise to facilitate a seamless transition between the two.
About GII
GII is a leading Shari'ah-compliant global alternative investment company. With over $3.5 billion of assets under management, GII seeks to achieve superior, sustainable returns and long-term value for its investors and shareholders by investing in curated growth and income-generating opportunities.
GII believes in 'innovation with a purpose' and works to build the sustainability of the ecosystem in which it operates. Under the leadership of a committed management team, supported by prominent shareholders from the Arabian Gulf region, GII deploys private capital across diverse alternative asset classes, including real estate, private equity, and venture capital. GII's client network includes UHNWIs, family offices, banks, institutions, and sovereign wealth funds in the GCC and Asia.
GII is headquartered in the United Arab Emirates. Its UAE entities are regulated by the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA) and the Financial Services Regulatory Authority (FSRA).
-end-
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
14 hours ago
- Mid East Info
Middle East Market Performance – Year to Date - Middle East Business News and Information
Year to Date demand for Middle East, which compares January to April 2025 with January to April 2024, was up 6% in line with global average. The YTD cargo performance for Middle East reflects some challenges – down 5.3% Middle East passenger numbers will double, reaching 530 million in 2043 Middle East passenger numbers will double, reaching 530 million in 2043 Traffic will grow at an average annual rate of 3.9% over the 2023 – 2043 period MEAN Safety: Global Overview: The global accident rate in 2024 was 1.13 per million sectors, up from 1.09 in 2023. That means just over one accident for every million flights. While still below the 5-year average of 1.25, the slight uptick is a reminder that safety progress is not guaranteed—and must be actively defended. MENA saw a positive trend: the all-accident rate dropped from 1.12 in 2023 to 1.08 in 2024. This improvement, although modest, reflects efforts to strengthen oversight, standardize procedures, and invest in safety culture. Continued collaboration between regulators, airlines, and ground operations teams is essential to sustain this momentum Middle East Priorities Two priorities for the Middle East: No country left behind Regulatory harmonization. Aviation in Middle East is not developing evenly Overall, the Middle East is doing well in aviation. But the reality is that the region is not developing evenly. Geopolitical Instability: Ongoing conflicts in Yemen, Syria, Iraq, Israel and Lebanon have resulted in prolonged airspace closures and significant disruption to flight operations. These conditions have weakened aviation infrastructure, eroded investor confidence, and limited access to critical markets. Overflight restrictions, particularly around Iranian and Syrian airspace, have forced airlines to reroute—raising fuel consumption, increasing emissions, and extending flight times. Conflict zones also hinder intra-regional connectivity, slowing economic integration and impeding the mobility of people and goods—especially in countries that would benefit most from enhanced air access. Sanctions limit access to aircraft, parts, and finance—isolating some carriers from the global aviation system and hindering safety and growth. GNSS While aviation has shown remarkable resilience amid political uncertainty, its full potential is unlocked in environments that are stable, peaceful, and open to international engagement. Economic Disparity The region contains some of the world's richest and poorest countries, with stark gaps in aviation capacity and investment. Gulf Cooperation Council (GCC) states (e.g. UAE, Qatar, Saudi Arabia) have built world-class hubs and fleets with strong government backing. In contrast, lower-income countries like Yemen, Lebanon, and Syria face declining infrastructure, underfunded civil aviation authorities, and outdated fleets. A coordinated regional approach is essential to narrow the gap. Regulatory Harmonization is a Priority for the Region: No Unified Air Transport Market in the Middle East: There is currently no overarching framework allowing airlines to operate seamlessly across the Middle East. A more coordinated approach could enhance connectivity, efficiency, and economic integration. Fair and Proportionate Consumer Protection Regulations: Smart regulation that follows global best practices and industry standards is essential for aviation to thrive. Ineffective consumer legislation from Europe and the United States should not be imported. Consumer protection regulations must be fair and proportionate. Enhancing Maintenance and Safety Oversight: Differences in national regulations for MRO operations mean that certifications obtained in one country may not be recognized in another. This lack of mutual recognition creates barriers for MRO providers seeking to operate across multiple Middle Eastern countries, leading to inefficiencies and increased costs. Cost-Effective And Timely Investment In Infrastructure Through Smart Regulations: Airport and infrastructure development is guided by diverse economic regulation models. A regionally informed approach could help ensure infrastructure is cost-effective, scalable, and airline-friendly. A regulatory framework that balances ambition with economic sustainability is key. An example is Saudi Arabia's aviation transformation strategy which is driven by growth without overburdening operators. Government Support Essential to Unlock Aviation's Full Potential in Middle East There are varying degrees of prioritization of aviation in the Middle East. A unified and collaborative approach will support in bridging the gap between countries and strengthen the region's role in aviation. Five priority areas to address are: Evolve Towards a More Integrated Air Transport Market: Foster greater regional collaboration on air service agreements to improve connectivity, reduce fragmentation, and enable more flexible route development. Fair and Proportionate Consumer Protection Regulations: Work towards a consistent baseline that follows ICAO principles, global industry best practices and standards of passenger rights across the region—ensuring travelers experience fair, transparent treatment no matter where they fly. Advancing Cost-Effective And Timely Investment In Infrastructure Through Smart Regulations: Promote infrastructure development that is cost-effective, scalable, and aligned with long-term traffic growth—ensuring airports and air navigation services remain accessible and affordable. Enhance Maintenance and Safety Oversight: Encourage mutual recognition of maintenance standards, training, and certifications to ensure consistent safety and support airline efficiency across borders. Support the Reintegration of States Emerging from Sanctions: Create pathways for the safe and structured return of states into the regional aviation system—facilitating access to aircraft, financing, and international standards while prioritizing safety and alignment.
Mid East Info
14 hours ago
- Mid East Info
UAE reaffirms commitment to promoting GCC Economic Integration at 123rd Ministerial Meeting in Kuwait - Middle East Business News and Information
Discussions touched on tax and banking committee outcomes Exploring latest updates on the progress of the Gulf Customs Union and GCC Common Market H.E. Mohamed bin Hadi Al Hussaini: The UAE supports all efforts to strengthen financial and economic cooperation among GCC states. The UAE has taken part in the 123rd Ministerial Meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee, held today in Kuwait, bringing together Their Excellencies, the Ministers of Finance of the GCC member states. Led by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, the UAE delegation featured H.E. Khalid Ali Al Bustani, Director-General of the Federal Tax Authority (FTA); and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations. A number of specialists from the Ministry of Finance, the Federal Tax Authority, the Federal Authority for Identity and Nationality, Customs and Port Security also accompanied the delegation. Advancing Regional Economic Integration: The meeting discussed priority issues to strengthen financial and economic cooperation across the GCC, where appropriate decisions were taken accordingly. Topics addressed include the outcomes of the 84th Meeting of the Committee of the Governors of the Central Banks in the GCC Countries, recent sessions of the GCC Customs Union Authority, and the 14th meeting of the Committee of Heads and Directors of Tax Departments in the GCC Countries. Ministers also reviewed the latest developments related to the Gulf Common Market, along with recommendations stemming from a joint event hosted by the UAE Ministry of Finance and the GCC General Secretariat on the sidelines of the World Government Summit in February 2025. Progress on the GCC's economic unity agenda by 2025 was also reviewed, with discussions focusing on ongoing efforts to enhance Gulf coordination in global economic forums. The session also featured a briefing by the GCC Statistical Centre on current data from the Gulf Common Market. Accelerating the pace of integration: H.E. Mohamed bin Hadi Al Hussaini said that strengthening joint GCC action in the financial and economic sectors will continue to be a strategic priority for the UAE, particularly in light of the accelerating challenges facing the global economy. He stressed the importance of completing the requirements of the GCC Common Market and Customs Union as essential steps toward enhancing economic efficiency and boosting the global and regional competitiveness of GCC countries. His Excellency added that the next phase calls for expediting institutional integration and aligning financial, tax, and customs policies to foster greater harmony and coherence among GCC economies. He reaffirmed the UAE's support for all efforts and initiatives aimed at establishing a unified Gulf economy and creating an attractive, dynamic environment for investment and trade. He concluded by highlighting the need to intensify technical cooperation and exchange expertise among member states, as well as making the most of the opportunities presented by joint Gulf projects. These efforts, he noted, are vital to achieving sustainable growth, ensuring long-term prosperity for GCC citizens, and strengthening the region's position as an influential economic bloc on the global stage. Exchanging views: During the meeting, the meeting ministers exchanged views on financial and economic priorities for the next phase and explored how to enhance the GCC countries' readiness to address regional and global developments, as well as how to support executive plans for economic integration and strengthen the GCC's position on the global stage.
Mid East Info
4 days ago
- Mid East Info
Diamond Standard Announces Fatwa: The Ideal Solution for Islamic Finance
Diamond Standard Co., producer of the world's only regulator-approved natural diamond commodities, today announced a historic milestone for the Islamic finance industry: the issuance of a Fatwa by Sheikh Dr. Mohamed Ali Elgari, approving the use of diamond commodities to enable more efficient and more proper Islamic finance applications. Dr. Elgari is an esteemed authority in Islamic finance, having served as Professor and Director of the Centre for Research in Islamic Economics at King Abdulaziz University, and as Shariah board member for organizations including AAOIFI, Islamic Fiqh Academy, Abu Dhabi Islamic Bank, BlackRock, Citibank, Dubai Islamic Bank, Emirates NDB, HSBC, Standard Chartered and other banks worldwide. A New Era for $5 Trillion of Islamic Finance: The Fatwa signifies a pivotal breakthrough for Islamic finance, where the lending of money with interest is prohibited under Shariah. Instead of directly lending money, the annual settlement for $5 trillion of global loan and bond transactions must be asset-backed, through structures like commodity Murabaha. Until now, commodity Murabaha used metals like nickel, copper, or aluminum. These assets were often created on paper, as options and warrants—a practice now in conflict with AAOIFI Standard 62, which requires the title to the commodity to be delivered to the borrower. Gold, silver, and food commodities are not permitted for Murabaha, and use of metals can result in substantial storage and delivery costs. In contrast, Diamond Standard commodities are a Shariah compliant, fully deliverable and fungible physical asset, with custody and delivery costs up to 97% less than that for metals like copper. After the issuance of Standard 62, a consortium of Islamic banks asked Diamond Standard to develop a commodity Murahaba solution, with audited physical custody in a Muslim majority country. Technology Meets Tradition: Diamonds are a $1.2 trillion natural resource that was inaccessible to investors. Diamond Standard commodities—physical Coins and Bars—contain optimized and equivalent sets of diamonds, transparently sealed with a wireless computer chip. Since the commodities are all equal, they trade easily on spot exchanges, with a daily market price reported by Bloomberg. The wireless chip enables each commodity to issue an electronic title of ownership, recorded and traded securely on a public blockchain. This innovation supports instant title transfer and remote audit, and eliminates all uncertainty. The commodities are approved to settle CFTC-regulated futures and options in the U.S., and the commodity production is internally audited by Deloitte. GCC Expansion and Islamic Trading Platform: To provide a standing pool of commodities to support Islamic applications, and enable investors to allocate to diamonds as a newly accessible natural resource, Diamond Standard is launching a commodity holding and trading company in the Gulf Cooperation Council (GCC) region. This entity will: Supply Shariah-compliant diamond commodities to Islamic finance institutions and trading platforms for Murabaha via an active market making desk. Offer a listed fund vehicle for equity and Sukuk investors seeking to invest in hard assets, expecting the value of diamonds to increase due to Islamic and investment demand. Anchor the development of new manufacturing, exports, and trading in the GCC region. This Diamond Standard commodity holding company has secured $280 million in capital commitments and is in discussions with GCC anchor investors to finalize the location of diamond importing, production and trading in the region. The initiative is expected to create over 200 new jobs, relating to commodity operations, import and export, marketing, trading, custody, and lending–as well as Islamic finance jobs. Tax Free Custody at DMCC: Diamond Standard also announced that it had selected the Dubai Multi Commodities Centre (DMCC) as the venue to provide audited, tax-free custody for the Diamond Standard commodities. This will benefit Islamic banks and investors by avoiding the tariffs on diamonds entering the U.S. and elsewhere. Unlocking a New Future: Cormac Kinney, Founder and CEO of Diamond Standard, stated: 'We intended to unlock $1.2 trillion of natural diamonds as an investment asset, but their dense value, combined with modern technology, has surprisingly made diamonds ideal for Islamic finance. We are honored to offer this asset to strengthen Islamic values.' By establishing Shariah-compliant diamond commodities, Diamond Standard is pioneering a new asset class for Islamic finance—fusing centuries-old ethical values with the latest innovations in blockchain and commodities, and offering borrowers and investors an unexpected, but ideal solution for modern Islamic financial transactions.
