GEMS Education has officially launched the ‘Next Billion Innovation’ startup fund, a new initiative aimed at empowering GEMS students to develop groundbreaking solutions with the potential to make a global impact.
The USD 1 million fund will initially be available to students at GEMS' newest institution, the GEMS School of Research and Innovation (SRI), set to open in Dubai in August 2025.
Students at SRI will receive priority access to hands-on support and direct connections to global startup ecosystems, thanks to GEMS' partnership with the innovation platform Plug and Play Tech Center. This collaboration will offer an incubator program 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 USD1 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 foster and support student entrepreneurship and innovation, with a strong focus on this at the GEMS School of Research and Innovation. The school will feature a dedicated creator and entrepreneurship academy, offering students year-round access to cutting-edge facilities such as a 'Disruption Hub,' innovation rooms, and design labs.
These spaces will allow students to develop, prototype, and launch their ideas with direct mentorship from industry leaders, university research labs, entrepreneurs, and expert educators. Whether it's AI-driven startups or advanced product design, the academy will empower students and nurture the next generation of creators and changemakers.
GEMS students have already made remarkable entrepreneurial strides, with notable success stories like Aadit Palicha, a former student of GEMS Modern Academy. Aadit left Stanford University to create Zepto, a grocery delivery service now valued at USD 5 billion, serving millions of customers across India. He is just 22 years old.
Through the Next Billion Innovation startup fund, the most promising solutions developed by GEMS students will have the chance to secure investment to scale and grow, setting the stage for significant impact and development.
