A power packed session organised by D2C Insider along with Startify to unlock the potential of Indian D2C brands for the middle east market. The session began with Kshitij Ladia, founding member of D2C Insider to talk about D2C Insider and the vision behind creating this massive community of 3000+ founders and also lay down the foundation of D2C Insider Middle East Chapter. Followed by Sudhir Syal, founder of Startify who has built large Indian brands like BookMyShow and Lenskart in UAE who took 150+ brand founders on an informative ride to building business in the Middle East followed by a QnA Reach out to d2cinsider@gmail.com Join the largest network of D2C brands & enablers in India https://bit.ly/d2cinsider_registration

1. Habibi:
Welcome To The
Middle-east
Sudhir Syal,
Founder - Startify

2. D2C Insider
Vision
To enable the growth of the D2C ecosystem by providing access, network, knowledge and capital to D2C brands
and enablers
3000+
Founders /
CXO
1500+
Brands
500+
Enablers
250+
Investors
Guiding Principles
1. Value addition to the ecosystem
2. Accelerate the growth of the ecosystem
3. Global expansion of the ecosystem
4. New ecosystem creation
India’s largest community of D2C Founders !

3. About Sudhir Syal, Founder - Startify
Led proto.in,
India’s 1st.
Startup product
platform
2008-10
MBA from
INSEAD
2013
Founder-CEO of
BookMyShow
UAE
2019-21
India’s first show
dedicated to
startups,
Starting Up
2008-12
Founder-CEO of
BookMyShow
Indonesia
2015-19
Founder & CBO
of Lenskart ME
2021-22

4. 1069
603
148
2912
1492
575
3153
1190
987
0
500
1000
1500
2000
2500
3000
3500
MENA - Overall UAE KSA
Funds Invested (Million USD)
2020 2021 2022
536
138
90
590
155 139
627
153 144
0
100
200
300
400
500
600
700
MENA Overall UAE KSA
Number of Deals
2020 2021 2022
Sources: Magnitt 2023 Report
The Middle East Startup Ecosystem is rising
to prominence on the global stage
• With $ 3.2 billion in total deal funding, 2022 was a record high for MENA
• UAE and KSA continue to dominate both in terms of value and the number of deals
• 30% of funds deployed came from the USA, indicating growing international appetite for
investments in the Middle-East
• With a 100% increase in the number of exits, investors have started to see demonstrated
growth in payback on investments

5. The growth of the MENA ecosystem is being fueled by
the high amount of dry powder in the region
The top Investment funds hold more than $ 3
Trillion, yet deployed only $ 89 Billion in 2022
Many of these funds are now beginning to deploy
resources to invest in local businesses and
building the ecosystem and infrastructure

6. Despite the growth, the Middle Eastern startup
ecosystem is still in its infancy
Regional economic dependence on
hydrocarbons is still nearly 50% of GDP
Comparatively fewer
success stories and exits
Lack of technology talent,
mostly imported
Limited access to global
markets
Sources: Forbes, Oxford Economics, Crunchbase, UN data

7. The Middle Eastern startup ecosystem is an emerging
frontier
EARLY STARTUP SUCCESS STORIES IN THE MIDDLE EAST

8. The ecosystem is showing signs of gaining momentum as
numerous ventures have begun to scale across sectors

9. 3.1 2.9
4.6 6.3 4.8 4.7 6.6 11.1 10
38.5
20.9
458
593 684
987
854
589
571
756 809
1545
1726
0
500
1000
1500
2000
0
10
20
30
40
50
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
VC Investment Growth in India
Annual VC Investments ($B) No. of Deals
0.7 1.1 2.9 3.2
564
536
590
627
480
500
520
540
560
580
600
620
640
0
0.5
1
1.5
2
2.5
3
3.5
2019 2020 2021 2022
VC Investment Growth in MENA
Total VC Investments, $B No. of Deals
CAGR = 32%
(till 2021)
CAGR = 45%
But the fact remains that the region attracts less than 1% of
global venture funding; an underlying opportunity
India saw $ 3 Billion of VC funding in 2012, which is about the same as MENA in 2022
MENA lags behind India by almost a decade in terms of venture funding. However, the
region has started seeing very steep growth over the last 3 years
The Middle-East governments are eager to help continue this transformation.
In Jan-2023, Dubai announced its D33 Economic Agenda.
One of the D33 Agenda points is to help grow 30 Made-in-UAE Unicorns by 2033
Sources: Bain India VC Report 2022, Magnitt, Crunchbase, South Asia Investor etc.

10. Stable government and pro-startup
policies
D33 Agenda announced in 2023 sets the
target to achieve 30 Made-in-UAE
Unicorns by 2033
The Middle East is well positioned to leapfrog at an
accelerated pace and emerge as a global Startup Hub
Geographical hub, well located within 5
hours to over 2 billion people
High internet and mobile penetration
High per capita income comparable to
a western economy
High spending power and disposable
income
Sources: United Nations data

11. The Middle East stands
out as above average
in consumer spending
habits and online-
savviness*
With near-100% literacy
and smartphone
penetration and high
per-capita income, this
is the perfect
ecosystem for new-
age technologies and
omni-channel
businesses to bloom
and flourish
35
47
53
47 46 44
0
10
20
30
40
50
60
Global Abu
Dhabi
Dubai RiyadhJeddah Cairo
Shopped for Groceries
Online min. Once/Week
% of respondents
40
58
67 66 63 63
0
20
40
60
80
Global Abu
Dhabi
Dubai RiyadhJeddah Cairo
Used Restaurant Food
Delivery min. Once/Week
% of respondents
24 27
34
28
21 19
0
10
20
30
40
Global Abu
Dhabi
Dubai RiyadhJeddah Cairo
Accessed loyalty / rewards
coupons via. Smartphone
% of respondents
30
20
28
47
31
25 27
50
0
10
20
30
40
50
60
Favourite Ways to Shop
(% of respondents)
Global Middle-East
… It has all the right economic and demographic
conditions to make it happen
*According to a PWC Survey conducted in 2020 among 19,000 respondents in 29 developed cities

12. ……… Including a large expat community creating a
global connect and helping the Middle East develop its
business ecosystem
12%
48%
10%
6%
6%
28%
Population Breakdown, UAE
Emirati South Asian
Other Arab Filipino
Others GCC European / Others
7%
18%
5%
14%
56%
Population Breakdown, KSA
Syrian South Asian Egyptian
Others Saudi National
Source: Global Media Insight

13. 8 stores in Top
Malls in UAE
Store launch events
with media
influencers
Localized brand with
Arabization
Influencer base –
50+ influencers
Stunt
Events
Strong PR and
Thought
Leadership
Strong
Performance
Marketing
Partnerships &
Alliances
with leading banks
and loyalty partners
GTM Strategy
How the brand was brought over from India and adequately localized
to script an omnichannel / D2C success story
Brand Case Study : LensKart

14. Founded in Beirut in 1974 by Nizar
Choucair , Patchi’s growth story
started in the UAE. It is one ofthe
most-recognized luxury chocolate
brands in the world
• 5000 employees
• 150 stores (32 in UAE)
• 39 countries
• 20,000 sqm,$20m factory in Dubai
and 10,000 sqm factory in Cairo
USD 26M
The third-largest selling brand in
Dubai Duty Free, which is the world’s
largest duty free market
Founded in 2017 as an online eyewear
retailer in Dubai, Eyewa is today the
largest omnichannel eyewear brand in
the Middle-East, with business across
GCC
• Valued at over $3B
• 60 stores (11 in UAE)
• (online and offline)
USD 6.3M
Over 300% growth in last 2 years.
More than $30M fund raised
Case Studies: D2C Brands that have Scaled in the
Middle-East

15. Founded in 2012 as a food discovery
and delivery platform; also offering
Zomato Pro. It became the most
popular food delivery platform among
South Asians in UAE
Scaled to 50,000 orders per month by
2019
Annual GMV of $30M
Sold to Delivery Hero for in 2019 for
$172M and became part of Talabat
subsequently
Founded in 2021, as an Omnichannel
Play across offline and online
Became the no.2 player in the eyewear
market in UAE and the no. 1 D2C player in
the market
Revenues of $4M annually
Set up 8 stores in first physical stores 8
months in marquee malls
Set to scale to 15 stores and enter KSA by
Mar-23
Case Studies: Indian Brands that have Scaled in the
Middle-East

16. Distribution Channels

17. How to Set
Up in the UAE
Given the pros and
cons of Freezone vs.
Mainland, D2C
companies need to
apply for a Mainland
license
Cost: Approx. USD
6000 + VAT (excludes
Visa costs for
employees and office
space costs
Timeline: 2-3 Weeks
Freezone Mainland
Easy and quick setup
Setup is slightly more complicated
than freezone
Zero taxes (No VAT, no Corporate
tax, No Export-import tax)
Subject to taxes (VAT, Corporate
Tax, Export-Import)
Not allowed to trade directly in
UAE’s local market. Trade and
operations in mainland UAE can
be done through distributors /
third parties only
No restriction on trade and
operations anywhere in the UAE
Max. 3-6 visas, which restricts the
manpower one can hire
Can have unlimited visas under the
company
Suitable only for export-import
companies, management
consultancies, legal / immigration
advisories etc.
Suitable for all kinds of businesses
with complete control over
management and operations
Can work on private commercial
assignments only
Can work on governmental
contracts as well

18. Taxes in
the UAE
UAE has one of the
lowest tax rates in the
world, making it one
of the most attractive
places to work and do
business in
Sharing the major
taxes applicable in the
UAE
Corporate Tax Value Added Tax
Customs Duty &
Excise
Rate: 9% (wef. June 2023)
Applicable only on annual
profits above AED 375,000
(~ USD 102180)
Exemption for certain
sectors such as
• Companies
engaged in
exploitation of UAE
natural resources
• Government-
controlled entities
• Charities
• Pension / Social
Security Funds
• Qualifying
investment funds
Rate: 5%
VAT Registration
mandatory if the
company exceeds AED
375,000 p.a. in sales /
taxable supplies /
imports
VAT is charged at 0%
for certain sub-sectors
within healthcare,
education services,
construction etc. and
for export of goods
and services outside
GCC
Customs duty is
charged at 5% on the
CIF value of imports,
in addition to VAT if
applicable
Applies to any
imports above USD
300
Excise duty is charged
at 100% for alcohol,
tobacco and smoking
products and energy
drinks, and at 50% for
carbonated and
drinks sweetened
with sugar

19. The Startify Playbook
2
1
3
Enter Startify, the Next Big Thing in the UAE Startup
Ecosystem

20. • Take Made-in-UAE companies to the
next stage of growth
• Enable fast-growing startups from
elsewhere set up in theMiddle-East
GTM
ACCELERATOR
MEDIA AND
EVENTS
CAPITAL
3. CAPITAL
2. MEDIA AND EVENTS
• GTM ACCELERATOR
• Funding companies through Angel,
VC and Private Equity Capital
• Create a crowdfunding platform for
investing in startup deals
• Create and nurture startup-investor
communities through events and
media coverage
• Create related IPs and events
(Startify TV)
Startify is the one-stop destination for startups to incubate,
accelerate, get funded, and connect to customers and partners in
the Middle East
STARTIFY

21. STARTIFY
Startify's unique GTM Accelerator would focus on scaling
companies over $5mn in revenue or $50mn in valuation
1
2
SETUP IN THE MIDDLE EAST
BRAND POSITIONING
Incorporation & Legal
Product-Market Fit
Branding
PR
UI / UX, Design
3
CUSTOMER ACQUISITION
Performance Marketing
CRM
Social Media
4
PERFORMANCE and control
Online / Offline
Private / Government
5
PROJECT closing
Venture funds (Seed / Angel)
Private Equity
Crowdfunding

22. Thank You