By Krishnan Nayar New Delhi, August 26, 2020 — The impact of current economic changes on the investment ecosystem in FinTech and HealthTech in India and Dubai was discussed in detail at a webinar organized today by the Dubai Chamber of Commerce and Industry. Sameer Nawani, chief representative of the Dubai Chamber’s International Office in Mumbai, said that digitalization and technology growth are bringing major changes in financial services and healthcare. He said UAE accounted for 60 per cent of funding for startups in the Middle East and in the North Africa region in the first half of 2020 while India was among the top three startup centers despite a decline in funding for start ups in India in the same period. Salman Jaffrey, Chief Business Development Officer of dubai International Financial Centre, DIFC, explained the centre’s role and explained its contribution to Dubai’s economic growth.
DIFC is one of the ten largest global financial centers and the leading financial hub for the Middle East, Africa and South Asia with a 15-year track record of facilitating trade and investment flows across the region. The consensus in the webinar was that new technologies enable startups to provide agile solutions for changing fintech and healthtech needs. The panelists agreed that the financing will enable the growth of these startups as well as the pace of technological progress. Hamzeh Kolaghassi, founder of Maia Exchange, a global private exchange based at DIFC that enables companies to raise intelligent capital from institutional and accredited angel investors, reported on his more than ten years of experience in consulting and venture capital. Other panelists included Anuj Golecha, co-founder of Venture Catalysts, one of India’s top ten angel investors, and Ashwin Raguraman, co-founder of the Bharat Innovation Fund, an early-stage venture capital firm that invests in globally competitive, early-stage deep-tech startups.