Aura wins Eureka! GCC 2024 Grand Prize for the most innovative start-up company  

Aura wins Eureka! GCC 2024 Grand Prize for the most innovative start-up company  

Dubai, UAE, June 7th 2024 – Eureka! GCC 2024, Asia’s largest business model competition, reached its culmination as Aura was declared the winner of the Eureka! GCC title and its Grand Prize at a gala dinner at the Hilton Al Habtoor City, Dubai, this evening (4th June).

The Eureka! GCC competition, now in its third edition, has become synonymous with fostering business innovation and entrepreneurship across the GCC region. Organized by IIT Bombay e-cell, and powered by Gulf Islamic Investments (GII). Eureka! GCC provides an ideal platform for aspiring Gulf entrepreneurs to receive mentorship from industry experts in Dubai, the home of business innovation.

The 2024 competition drew participation from over 300 startups from GCC countries. A meticulous evaluation process shortlisted thirty semi-finalists to receive an advanced entrepreneurship training programme, comprising customized workshops on efficient business planning and specialist guidance from industry experts.

The Eureka! GCC judges selected the best ten startups to compete in the Grand Finale for a share of the $100,000 prize pool.  Besides the Grand Prize for Aura, other prizes and awards went to Filming Locations, and ReflowX, plus the Audience Choice Award for Best Open Pitch (won by HAAY), presented by the Guest of Honour, Mr Satish Kumar Sivan (Consul-General of India in Dubai).

A new innovation this year – the E-summit – provided a platform for the finalists to present their innovative ideas to a broader audience of industry experts and leaders. The summit included startup business challenges and the entrepreneurial journey, offering valuable commercial insight and fostering a spirit of collaboration and learning­.­

Pankaj Gupta, co-Founder and co-CEO of Gulf Islamic Investments (GII) and Founder of Eureka! GCC, commented, “GII’s ongoing partnership with Eureka! GCC demonstrates our strong belief in supporting fresh ideas, inspired by the entrepreneurial spirit of Dubai and the GCC. I am grateful to the Dubai government and industry leaders for making this entrepreneurship program so successful. The finalists’ quality and creativity were truly remarkable. We are proud to support the development of such talent and innovation, which are essential for the ongoing economic development of our region”.

The Eureka! GCC competition continues to serve as a vital platform for aspiring entrepreneurs, providing the resources, mentorship, and exposure needed to turn their business ideas into reality. By connecting startups with experienced industry leaders and potential investors, Eureka! GCC helps bridge the gap between innovative concepts and successful businesses. The success of Eureka! GCC 2024 paves the way for future editions, promising even greater opportunities for startups to prosper.

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 Gulf Islamic Investments (GII), a leading UAE-based Shari’ah-compliant global alternative investment company with over US$4.5 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.

To know more about Eureka! GCC, visit https://www.ecell.in/eurekagcc/

About Gulf Islamic Investments

Gulf Islamic Investments Group (GII) is a leading Shari’ah-compliant global alternative investment company. With over $4.5 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).