01.02.22

India-UAE Capital Funds to Support Start Ups

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India and the United Arab Emirates have pooled their Resources to create a $150 million fund to support startups.

Highlights:

Within the next ten years, the fund will assist in creating ten unicorns. Unicorns are companies with a market capitalization of more than one billion dollars.

The fund was announced at the Dubai EXPO 2020. The fund will act as a Catalyst for the startups’ development.

It will be highly beneficial to startups in their early stages of development.

In both countries, the fund will support

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at least fifty startups. The fund’s Indian representative is NASSCOM.

A Memorandum of Understanding was signed between India and the United Arab Emirates to raise the fund.

UNESCO Heritage List – Nordic Clinker Boats

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In December 2021, the United Nations’ cultural agency, UNESCO, inscribed the Nordic “clinker boats” to its Heritage List.

Highlights:

For thousands of years, wooden sailboats have allowed northern Europeans to spread influence, trade, and even conflict across continents and seas.

The UNESCO designation was requested jointly by Denmark, Iceland, Finland, Sweden, and Norway.

The term “clinker” is said to refer to the way the building’s wooden boards were attached.

The use of overlapping longitudinal hardwood hull planks distinguishes wooden clinker boats.

These planks are held together by stitched or riveted

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seams. Internally, boats are fortified with additional wooden components, particularly tall oak trees.

Gaps are filled with a mixture of tar or tallow, animal hair, moss, and wool.