Tuesday 28 May 2024

New report highlights Dubai’s startup ecosystem

DUBAI, March 1, 2021

Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, in cooperation with Dubai Technology Entrepreneur Campus (Dtec) has released the Dubai Startup Report 2021, an informative guide on Dubai’s startup ecosystem for international startups and investors that are keen on exploring business opportunities in the emirate.

The report brings together the hands-on experience of Dubai Startup Hub and Dtec serving a community of more than 10,000 founders and investors, and the public policy and legal perspective on incentives and schemes available in the Emirate, reported state news agency Wam.

Featured in the report are several business-friendly measures introduced in recent years to support business activity, boost foreign investment and attract promising companies and investors from around the world such as several stimulus packages, the golden card permanent residency system for expat investors, a 5-year visa for entrepreneurs, a virtual working programme and a decision to grant UAE citizenship to select foreigners.

The report highlights various programmes, resources and value-added services available in Dubai that are designed to support the growth of startups and connect them to new business opportunities. Dubai Startup Hub, an initiative of Dubai Chamber, along with Dtec are among the most active startup ecosystem players in the emirate.

Among other topics of interest covered in the report are ease of doing business, economic competitiveness, government initiatives supporting startup growth, venture capital activity, free zones and the services they offer, access to finance, investment incentives and availability of skilled talent, in addition to useful tips on setting up a company in Dubai.

Hamad Buamim, President & CEO of Dubai Chamber, described the report as a valuable and reliable resource for startups and investors in other markets as it provides a wealth of practical information about Dubai’s dynamic and fast-growing startup ecosystem.

"The launch of the Dubai Startup Report comes as a time when startups are driving Dubai’s digital transformation, fostering innovation and playing a crucial role in building the emirate’s post-Covid-19 economy. The informative guide supports Dubai Chamber’s comprehensive entrepreneurship strategy and ongoing efforts to promote Dubai as a preferred market for high-potential startups from around the world," said Buamim.

He added that Dubai Chamber supports the growth of startups in Dubai through its entrepreneurship initiative Dubai Startup Hub by providing startup members access to resources, tools, knowledge and market opportunities that can help them thrive and grow.

For his part, Dr Mohammed Al Zarooni, Vice Chairman and CEO of DSOA, noted that Dubai’s competitiveness attracts innovative thinkers, positioning it as a preferred destination for entrepreneurs in diverse industries, especially those in technology and fourth industrial revolution applications. These sectors have recently surged, given the measures in response to COVID-19.

Al Zarooni said: "Start-ups are a pillar of a flexible economic system that is agile enough to quickly adapt to new developments and achieve sustainable growth. The facilities that Dubai offers to this dynamic segment, through a supportive ecosystem and an incubator for innovation, helps them grow and achieve strategic business objectives. The Dubai Technology Entrepreneur Campus at Dubai Silicon Oasis, which is home to hundreds of technology start-ups, is an exemplary model of the unique ecosystem that Dubai and the wider UAE offers."

He added that the Dubai Startup Report 2021 presents a holistic view of Dubai’s attractiveness as a launch pad for entrepreneurs from across the globe.


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