Hulexo wins Eureka! 2023 grand prize for the GCC's most promising startup companies

By siliconindia  |  Thursday, 01 June 2023, 10:21 IST

Hulexo wins Eureka! 2023 grand prize for the GCC's most promising startup companies
The Grand Finale of Eureka! GCC 2023 competition saw Hulexo take the top prize amongst a field of ten finalists at the Habtoor Grand Hotel, in the GCC element of Asia's largest business model competition. Eureka! GCC 2023 Asia's largest business model competition, organized by IIT Bombay's Entrepreneurship Cell and powered by Gulf Islamic Investments (GII), provides aspiring entrepreneurs with a platform for business model creation, mentorship from investors, and networking and educational opportunities.
In its second year of operation, Eureka! GCC 2023 received over 200 registrations and 150 business plan ideas from budding business founders. Twenty-seven early-stage entrepreneurs participated in a five-week on-the-house entrepreneurship training programme, comprising customized workshops on effective business planning and personalized mentoring from seasoned industry professionals.
After a highly competitive selection process, the best ten startups competed for the Grand Prize worth more than $100,000. Among them, Hulexo a retail tech startup won Eureka! GCC title and was awarded USD 25,000 prize money to invest in their business. The second prize of USD 15000 went to Exirio, while CrossVal and Gesture Talk secured third and fourth place, respectively, receiving prizes of USD 10,000 and USD 5000.
GII co-Founder and co-CEO Pankaj Gupta commented, “The trajectory of Eureka! GCC has been ignited by the visionary leadership of Dubai, serving as a constant source of inspiration. Gulf Islamic Investments is proud to be associated with the UAE’s forward-thinking startup eco-system. We congratulate the winners and all participants and look forward to maintaining links with them all as their business journeys develop”.
Underlines the comprehensive partnership between the two countries, Dr. Aman Puri, consul-general of India in Dubai, said "The alliance between UAE and India is currently basking in its golden age, radiating brilliance. We gather to commemorate the profound collaboration between two prestigious institutions, GII and IIT Bombay, which embodies a holistic partnership. Our purpose is to ignite the spirits of aspiring young innovators who tread the path of global problem-solving, inspiring them to shape a brighter future."
The Eureka! GCC awards ceremony and dinner at Dubai's prestigious Habtoor Palace Hotel on 26th May was attended by high-profile guests and noble dignitaries. The occasion also provided an opportunity for the winners to network with renowned industry leaders and other leading supporters of Dubai’s business startup community.
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$3 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.

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