USD 1 million fund aimed at financing high-impact business ideas and solutions. Initiative to initially launch at new GEMS School of Research and Innovation. Scheme complements GEMS Innovation Challenge and incubator programme.
Dubai: GEMS Education today launched the ‘Next Billion Innovation’ startup fund, a new initiative designed to empower and support GEMS students in delivering the next big solutions with the potential to make a global impact.
The USD1 million fund will initially be made available to students at GEMS’ newest school, GEMS School of Research and Innovation (SRI), opening in Dubai in August 2025.
SRI pupils will also have priority access to hands-on support and direct pathways to global startup ecosystems thanks to GEMS’ partnership with innovation platform Plug and Play Tech Center, which provides an incubator programme for the most promising student projects.
Following this first phase, access to the new fund will be expanded to encompass the longstanding annual GEMS Global Innovation Challenge (GIC), which invites students from all GEMS school to develop solutions that address pressing global challenges and have the potential to make a significant positive impact on society.
The aim is to provide student changemakers with the resources, mentorship, and opportunities needed to bring their visionary ideas to life, with pupils benefitting from the guidance and mentorship of industry experts and seasoned entrepreneurs, whose invaluable support will help students refine their ideas, overcome challenges, and navigate the path from concept to market.
Sunny Varkey, Chairman and Founder of GEMS Education and The Varkey Foundation, said: “The entrepreneurial mindset doesn’t have an age barrier. At GEMS Education, we have always been passionate about supporting our student innovators in transforming their ideas into impactful solutions that can be taken to market and that will eventually help make the world a better place.
“The Next Billion Innovation startup fund represents our long-term commitment to fostering the next generation of global leaders and entrepreneurs. We are investing USD 1 million to ensure our students need not look elsewhere for funding – because the best ideas should be driven by passion, not financial constraints.
“This initiative builds on the success of the GEMS Global Innovation Challenge and reflects our belief in the power of innovation. The ‘Next Billion’ is more than just a number – it is about creating the next billion-dollar idea, impacting the next billion people, and unlocking the next billion possibilities.
“Through our partnership with Plug and Play Tech Center, students will have direct access to a global network of mentors, investors, and global organisations, ensuring they receive the support needed to scale their ideas into world-changing ventures. It fully supports our GEMS promise to see the genius in every child.”
All GEMS schools encourage, nurture, and support student entrepreneurship and innovation – and this will be most prominently displayed at GEMS School of Research and Innovation. The school is set to host a dedicated creator and entrepreneurship academy that will provide students with year-round access to state-of-the-art facilities including a ‘Disruption Hub’, innovation rooms, and design labs.
From these spaces, students will be able to develop, prototype, and launch their ideas with direct mentorship from industry leaders, university research labs, entrepreneurs, and specialist educators. From AI-powered startups to cutting-edge product design, the academy will empower students and foster the next generation of creators and changemakers.
Already, GEMS students can point to a long track record of entrepreneurial breakthroughs that have made global headlines. These include Aadit Palicha, a former student of GEMS Modern Academy, who quit Stanford University to set up Zepto, which provides top-quality groceries to the doors of millons of customers in India and has been valued at USD5 billion. Aadit is just 22 years old.
Through the Next Billion Innovation startup fund, the most promising solutions developed by GEMS students will have the opportunity to attract investment to further develop and scale their projects, paving the way for substantial growth and impact.
Selected projects will have the chance to gain vital international exposure, with students presenting their solutions on global platforms. This will not only highlight students’ innovations and achievements but also connect them with a broader audience and potential collaborators.
