The 10th edition of Expand North Star, the world’s largest startup and investor event, has concluded at Dubai Harbour, reinforcing the UAE’s position as a premier global destination for tech entrepreneurship. The four-day event, part of GITEX GLOBAL, attracted 2,000 exhibiting startups and over 1,200 investors with a collective $1.1 trillion in assets under management, culminating in the highly anticipated Supernova Challenge 2.0 finale.
AIM Intelligence Wins Supernova Challenge 2.0
In a competitive grand finale, South Korean startup AIM Intelligence was crowned the winner of the Supernova Challenge 2.0, securing the $100,000 grand prize. The AI security company, which focuses on making generative AI safe and reliable, plans to leverage the win to expand its operations into the MENA region. Haon Park, Co-Founder of AIM Intelligence, stated, “Through the Supernova Challenge 2.0, we will be able to expand into the Middle Eastern region. That means we need the talent, and we need the resources, so this prize money is important.”
Chile’s Chucao Technology Consultants, which has developed a nanometal injector to boost mineral recovery, secured second place and a $50,000 prize. Aerialoop from Ecuador, a builder of drone delivery networks, took third place with a $25,000 prize.
Crescent Enterprises Launches AED 250M Venture Builder
Adding to the momentum, UAE-based Crescent Enterprises announced the launch of a new AED 250 million investment program to build and scale homegrown ventures with global potential. The capital injection will scale its venture-building platform, CE-Creates. Badr Jafar, CEO of Crescent Enterprises, commented on the launch, “The UAE has become a launchpad for serious builders, and our collective vision is for the country to be known as the start-up capital of the world. With CE-Creates, our venture building platform, we’re helping entrepreneurs convert purpose into performance – locally proven, globally competitive.”
A Decade of Impact
To mark its 10th anniversary, Expand North Star hosted a special panel featuring six previous winners of the Supernova Challenge. Founders from the UAE, Saudi Arabia, Brazil, the UK, and South Korea shared how the equity-free capital and global exposure from winning the competition accelerated their growth. Alp Katalan, MENA Commercial Lead of Desolenator, the 2022 winner, noted, “Winning Supernova Challenge 2.0 helped accelerate trust in the market… we’ve managed to secure clients in the region, and also here in Dubai with Dubai government, so it was critical for us.”
About Expand North Star
Expand North Star is the startup showcase of GITEX GLOBAL, the world’s largest technology and AI event. Organised by the Dubai World Trade Centre and hosted by the Dubai Chamber of Digital Economy, it is positioned as the world’s largest startup and investor connector event. The platform convenes thousands of startups, unicorns, and investors to foster innovation, facilitate deals, and provide a launchpad for emerging technology companies from around the globe.
Source: MENAFN
