dubai a hub for startups and entrepreneurs
- Author- Priynka Admin
- Publish Date-
Dubai has evolved, emerged, and developed greatly in the last twenty years or two decades. It is the epitome of luxury, modernity, innovation, and creativity. Dubai has the most creative brains as it fosters talent and encourages new ideas and thoughts. The city has a large population which amounts to 3.31 million, all living in the vibrant city’s area of 1,588 square meters!
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Dubai as a hub for startups and entrepreneurs
People of various countries expressed their desire to invest in the startup ecosystem and be an entrepreneur in Dubai. Opening up a startup in Dubai is very beneficial. As it has people from all cultures and backgrounds, the startups work out well in Dubai. Dubai is also popular as the “Silicon Valley” for creators and people with innovative thoughts. Dubai has made the city very lucrative in terms of creating opportunities for startups and entrepreneurs.
Dubai startup hub
Dubai startup hub is one of the branches of the “Dubai Chamber of Commerce and Industry”. Dubai Startup Hub was inaugurated in 2017. This launch will help the entrepreneurs to collaborate with the perfect co-founder with similar ideas or the one who understands and appreciates his or her ideas.
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Dubai Startup Hub thus helps the entrepreneurs to open a startup and to extend support to their growth plan. It also provides access to entrepreneurs with great ideas. A person with great creative ideas and skills can also get opportunities to work in start-ups that match their ideas and to become the business owner.
Other activities to encourage startups and entrepreneurs
Dubai also launches many programs to encourage startups and entrepreneurs. One of the events that foster and encourages new talent is the Dubai Smartpreneur Competition in 2018. If an individual wins in this competition he or she can avail of a cash prize of AED 1,50,000.
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Free Zones of Dubai also provide many stimulants like incentives to motivate the startup culture. The employees and entrepreneurs enjoy the benefits of this. These free zones are designed to encourage startups by the Dubai Technology Entrepreneur Campus (Dtec).
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Dtec emerged as the Silicon Valley of Dubai and it offers free and high-speed internet connection, cafes in the area, a lot of parking areas, play zones, spaces for offices, and other advantages. Startups from almost seventy countries are in this area. Dubai allows people to open savings bank accounts and also to purchase property in Dubai even if the individuals are not the residents or citizens of Dubai. It is one of the safest places in the world packed with great luxury.
What are a few startups one can begin without a lot of investment in Dubai?
- Career coaching
- Selling graphic cards
- House improvement business
- E-gift shop
- E-repairing services
- Online grocery shopping portal
- Holiday planner
- Online tutoring
What are a few things one should notice prior to setting up a startup in Dubai:
An individual selects Dubai for its sturdy network of business and startup ecosystem. As entrepreneurs, many would choose a cost-effective and quick company setup. These are a few steps to know while setting up a start-up. The important ones are:
- One has to meet a business consultant who is an expert.
- Know about all the available options for the startup
- Select the right company forming a package
- One has to choose the right structure of the company, appropriate business activities, and the business license.
- An entrepreneur has to apply for an investor visa and a Flexi desk office.
- Apply for a business bank account
Why is Dubai one of the best places for a startup
- Technological support: Dubai has a lot of technological support. Internet connections and computers were sponsored by the UAE government.
- Government support: Charming startup and freelance packages are given by the government of Dubai to welcome the entrepreneurs. Free zones in Dubai are the best example of this.
- Access to international markets: Dubai has well-connected transportation that helps in accessing the international or global markets.
- Living Standards: Life in Dubai is top-notch with the state-of-art infrastructure and support system.
- Tax benefits: One does not have to pay tax in Dubai which attracts a lot of people to work in Dubai. Who does not want all the money they earned through hard work?!
- Investor friendly location: For promoting entrepreneurs and startups Dubai uses accelerators, incubators, and a robust network of investors.
An individual can bring their ideas to life by beginning a startup in Dubai. There are many other reasons to invest and own a startup in Dubai that you will understand once you go there.
Case study of a startup in Dubai
Anghami is a music app that helps in streaming music. It has more than sixty million people using it. People living in UAE stream music and enjoy it using Anghami. The startup evolved and reached greater heights with the number of people using and subscribing to it have increased in 2011. Anghami is the Spotify of Dubai. The startup grows each year and grows a hundred percent annually.
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Frequently asked queries about Dubai- a hub for startups
Question: Can your startup sell online in Dubai?
Answer: One needs to receive permission from the Department of Economic Development (DED) of Dubai. Not all can open an online website to sell goods.
Question: What is the technological capital of the world?
Answer: Dubai is the capital of technology in the world! This feature offers startups a great opportunity to effectively utilize this technological advancement.
Question: Is there a scope for women entrepreneurs to begin a startup?
Answer: Yes, women entrepreneurs are also given a chance in Dubai. Dubai Business Women Council launched programs to help lady entrepreneurs.