Startups in the UAE … a promising future that embraces success

October 17, 2020

Startups in the UAE … a promising future that embraces success

Startups in the UAE ... a promising future that embraces success

Your success in the United Arab Emirates will not require maps anymore, as all roads lead to it, especially the path of entrepreneurship and startups.

The United Arab Emirates supports startups :

The United Arab Emirates has been able to be a forerunner in the Middle East in securing the right climate for the growth of startups and allowing them to develop and reach the top. There is no dispute today that the United Arab Emirates has helped many startups because it has a set of advantages, including:

  1. Strong leadership.
  2. A large number of resources.
  3. Entrepreneurial mindset.
  4. Innovation Support.

The UAE government has also provided entrepreneurs and startups with a range of services, the most important of them are:

  1. Providing investors with all necessary facilities to put their ideas into practice.
  2. Encouragement to do business.
  3. Providing all basic facilities in terms of infrastructure and logistical services to reach international markets, technology, and world-class services.

This led to the birth of bright results and successful projects that international and global companies compete to obtain to quickly access a large electronic market that is truly a successful business model.

UAE startups battling unemployment :

Experts and founders of some emerging companies in the UAE explained that the support of the UAE government created awareness among Arab youth about the various opportunities that enrich their future and provide them with the capabilities to build a world not ruled by unemployment or repeat the success stories of startups achieved by the rest of the regional markets.

In addition, They emphasized the importance of the role that startups play in combating unemployment in the region, and the importance of entrepreneurship in spreading education and knowledge to enhance the Arab reality.

Bold investment and the future of startups in the United Arab Emirates :

The United Arab Emirates has become a regional center for emerging companies as a result of the strategy set by the government, which aims to foster entrepreneurship and support Arab youth as basic pillars for achieving economic diversification.

According to the Middle East and North Africa’s Bold Investment Report 2020, the UAE is among the first countries to prepare for future changes in the innovation and entrepreneurship sector.

 “Small startups make up 50% of the companies registered in Dubai, and generate about 47% of the annual GDP of the UAE.”

The report also emphasized the importance of the initiatives adopted by the UAE to support the sector of startups and entrepreneurs as it did the following:

  1. Developing mechanisms for issuing commercial licenses and visas.
  2. Cash flow management.
  3. Increasing reliance on the concept of remote work.
  4. Keeping pace with the rapid changes in the technology and innovation sector.
  5. Updating legislation and special regulations in light of global changes, especially in the sectors of health, education, energy, remote work, and others.

The report also addressed several proposals to enhance the innovative environment in the UAE and the region, including:

  1. Supporting employers in reducing office and utility rental costs, and deferring payments, fees, and taxes due.
  2. Reducing fees for commercial licenses and facilitating their renewal in the event of their expiration date.
  3. Providing loans and flexibility in financing options.
  4. Work to reduce the cost of living and housing.
  5. Facilitating movement, strengthening free zones, issuing and transferring visas.

During the World Economic Forum for the Middle East, which was held last year. The government of the United Arab Emirates announced the granting of five-year visas for the top 100 Arab startups.

Examples of the most important startups in Dubai in 2020 :

Dubai has become one of the most fertile sites suitable for the growth of technical projects, emerging companies, and entrepreneurship.

Moreover, if you are a citizen of the Middle East, you must have heard about Careem, the company that specializes in providing delivery services through its website and smartphone applications, and which was acquired by the US company Uber through a deal valued at 11.4 billion dirhams.

As well, the largest e-commerce store in the Middle East and North Africa, was acquired by Amazon with a deal valued at around 600 million dirhams.

These are two of the most important electronic and commercial companies known internationally.

However, the topic will be more interesting when we tell you that these companies were started by passionate entrepreneurs on a very small scale, helped by the ease of starting a technology business in the UAE, and they became giants in this industry.

Startups in the UAE

Now it is your turn!

The United Arab Emirates has topped first place as the best incubator environment for startups in the Arab world and the Gulf and ranked 43rd globally according to the global rankings for the startups ranking for the year 2020 issued by Startup Blink, which includes 100 countries and 1000 cities.

And if you have an idea for a commercial project and want it to become a reality, the United Arab Emirates is the proven pillar of your promising dreams of a successful future, and it is the best place for you to start your own company, starting from obtaining a commercial license to register your company to obtain sponsors for your project. In addition, many commercial and electronic companies can help you in your first steps and continue with you to overcome all obstacles that may face you.