Dubai Internet City (DIC) plays the most pivotal part and has emerged as one of the largest technology hubs in the Middle East and is a working hub for more than 25,000 working professionals at 1,600 technology companies. Thus, Dubai has emerged as the perfect gateway for many such opportunities in the Middle Eastern turf all thanks to its business-friendly environment, world-class infrastructure and diversified economy.
Ammar Al Malik, Managing Director of DIC (Dubai Internet City) has stated that “With the growth of the regional start-up and technology ecosystem, UAE has also grown and has lead from the front in the field of digital transformation and artificial intelligence investment, the best advice to the budding entrepreneurs is quite simple i.e not to miss any opportunity.”
The absolute success of Souq and Careem, have the investors and venture capitalists’ eyes being fixed on the Middle East region in the establishment and proper search of their next Unicorn firm. This is a daunting prospect to be managed and to get fulfilled as it’s the foundation steps taken in establishing a business., as the start-up incubators such as in5 Tech at DIC provide all the assistance for the new companies.
Innovation setup in5 has supported quite two hundred new corporations up to now, serving to them to raise Dh400 million since it absolutely was launched by the TECOM cluster in 2013. By providing progressive facilities, inventive areas, coaching, and mentorship programs and foremost infrastructure, Dubai net town and in5 are enabling a successive wave of entrepreneurs and Start-ups to seize the opportunities of the fourth industrial revolution.
A two-day STEP Conference launched its 9th edition beneath the theme of ‘The World in Dubai’ in partnership with Dubai Internet City (DIC) and with the Department of Tourism and Commerce Marketing (Dubai Tourism). The conference – that finished on Wednesday – witnessed government and business leaders, venture capitalists, entrepreneurs and innovators in tandem and supporting the budding entrepreneurs.
Al Malik stated that “They have additionally launched Start-up competition Floating Pitch this year. It attracted near to 150 entries and nearly in excess of 100 entrepreneurs were shortlisted to pitch to leading corporations and establishments like Qualcomm, Roland Berger, Sky News peninsula, Eureeca and the New York University Abu Dhabi.”
The UAE Start-up scheme remains the foremost sturdy and most innovative within the region. It remains the foremost favorable destination for both the Start-ups and investors within the Middle East’s turf, which is proved by the very fact that UAE ranks 16th within the world easy Doing Business Report by World Bank. As per Magnitt, the previous year, the nation attracted in excess of $704M in venture funding.
Ali Shabdar, regional director MEA, Zoho Corp, said: “We see a better promise within the consistent growth of the Start-up community in the country. The UAE is home to a number of the foremost promising and globally acknowledged Start-ups. Fuelled by strategic government programs and big support from the non-public sector, the scheme is growing steadily attracting entrepreneurs from across the region and on the far side.”
The success of UAE as a Start-up hub going forward can return from Venture capital corporations and accelerators that are ready to work with founders in making a transparent pathway to scale their business to high growth markets outside of the region and be able to access the funding network within the United States of America and different international finance hubs. This is often wherever the property of VCs and accelerators becomes crucial.
Nitin Nambiar, chief selling officer, ASA Ventures, said: “We have detected that the highest ideators are unable to create the transition to being entrepreneurs because of limitations within the analysis framework applied by VCs or simply lack the relationships with the key call manufacturers.”
ASA Ventures, for instance, is making constant efforts to deal with this would like by sound into the most ideal perfect economy and creating entrepreneurship a lot of accessible through its currently to be launched platform referred to as a successive huge plan – an internet series that will away with ancient VC analysis and brings into play the knowledge and backing of the group.
In the case of Next big Idea projection, the pitches are created out there for viewing and sharing on-line, and therefore the plan goes straight to your potential customers UN agency in truth can create or break the business. we tend to believe this platform boosts innovation and inventive thinking, harnessing the thought Economy and unleashing creativeness.
“The Step Conference, remaining faithful regarding its promise and spirit, has become the crucial platform for the Start-up community of the region to return along, connect, learn, and acquire impressed once a year. we tend to are delighted to envision the consistency in quality and therefore the enlargement of the show within the region.
As a crux part of our efforts in supporting the Start-up community within the region, Zoho remains a partner and ally of the Step Conference.”