- February 17, 2019
- Posted by: Aswani
- Category: Blog
UAE is home to some of the most innovative, interesting and creative start-ups. It is the perfect place for budding businesses, that gives you numerous options to establish and flourish your business.
UAE has been a bustling business hub for decades and it has been made possible by various initiatives and measures taken by the supportive government of the country. The UAE’s startup industry has come a long way, with thousands of new business licenses being issued every year. This reflects the booming business milieu and the growing appeal of the startup culture in UAE.
The vigorous economy, attractive finance options, remarkable infrastructure, and extensive government support are factors that compel investors to setup a business in Dubai and UAE. You will get potential clients in any sector, be it real estate, manufacturing or retail.
Startups and SMEs make up almost 95 % of all enterprises in the UAE. This is the result of a wide range of incentives offered by the government and great business opportunities in UAE to new businesses.
The Khalifa Fund for Enterprise Development, a not-for-profit development agency, is one such example that is aimed at encouraging innovation and setting up companies. The Department of Economic Development (DED) is also coming up with certain government reforms that are aimed at providing extra support to establish, grow and expand startups.
The two-day Step conference held last week at Dubai exhibited UAE’s unmatched support to its startup community. Mentors, venture capitalists, accelerators, investors and incubators expressed their desire in supporting the entrepreneurial skills of youngsters.
According to Ray Dargham, co-founder and CEO of Step Group, “This year, we are seeing a lot more interest from investors and startups in Asia, China and Europe who are keen to invest or expand into the Middle East. There is also a growing participation from the automotive industry with several partners showcasing their electric vehicles and mobility technology.”
The country provides startup businesses and pursuing co-founders profound benefits and this is expected to increase in the coming years.