Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region that emphasises public and private sector collaboration for promoting innovation and entrepreneurship as key economic drivers of Dubai and the UAE.
The initiative provides a multi-programme platform for global entrepreneurs to explore business opportunities in Dubai and enables them to benefit from a set of initiatives and services including Market Access Program, Emirati Development Program, Dubai Smartpreneur Competition, and the Co-Founder Dubai Program, among others.
Dubai Startup Hub initiative has launched eight guides to help startups in the UAE do business, as the Chamber concluded its fifth and final ‘Networking Series’.
Organised in cooperation with Virtuzone, the Series convened from mid-October to mid-December 2020 and focused on eight industrial sectors.
The key sectors identified include Fintech, Healthcare, Transportation, Education, F&B, Social Impact, Sustainability, and Travel, Tourism & Hospitality.
The fifth edition of Dubai Chamber’s Networking Series attracted more than 360 participants including 22 per cent Emirati entrepreneurs besides global startup owners desirous for new company formation in Dubai participating in the virtual event.
Natalia Sycheva, Senior Manager, special projects and Entrepreneurship in Dubai Chamber noted, “The guides are an innovative new tool to help promising startups in each of the target sectors,”
She also highlighted saying, “They form part of the Chamber’s plan to address the repercussions of the Covid-19 pandemic, where a significant chunk of our investments has been earmarked for knowledge-building and providing information for entrepreneurs and startups at this critical time.”
“The Dubai Startup Hub’s mandate is to support emerging companies and help them understand and navigate the procedures for establishing businesses in Dubai,” she explained.
“The initiative serves to facilitate the exchange of knowledge and lays solid foundations for partnership and cooperation, all to drive growth in the emirate’s startup scene. This ultimately boosts Dubai’s entrepreneurial ecosystem and strengthens its position as a global destination for new businesses,” she also added.
Entrepreneurs willing to know and learn more on the Dubai market can now make use of this industry guide to better equip themselves on the know-hows and can continuously receive sectoral updates for informed business decisions. This initiative will also equally benefit the business startup consultants in Dubai to discharge their responsibilities.
For Delivery, Logistics and Transport businesses, the key elements addressed are
- Key market statistics e.g. Dubai’s 11th position as the world’s logistics-friendly country in the world, Dubai International airport as the world’s 6th busiest cargo traffic, its strategic location as the gateway to the Arab, African and Asian countries and its logistics market ranked first among the top 55 global logistics markets in logistics etc.
- Dubai customs being the main regulatory body
- Licensing and authorities
- Incubators and accelerators
- Important industry events and conferences
- Choosing between various free zones and mainland options
- Steps for starting a logistics business
For the Fintech Industry, the important aspects covered are
- Key market statistics highlighting UAE as MENA’s largest fintech hub with 39 per cent yearly growth of fintech startups since 2012 and the 2nd largest outward remittance country in the world 44 billion remittance market size
- Dubai Financial Services Authority (DFSA), Securities and Commodities Authority and Central Bank of Dubai as regulators
- DIFC as the licensing authority
- DIFC Fintech Hive as the prime accelerator
- Industry events and conferences
- Easy steps for a startup business and fundraising including crowd funding
For Healthcare business, the guide focuses on
- Important market statistics e.g. healthcare sector accounting 3.6 per cent of UAE’s GDP with a total of 3397 healthcare facilities licensing between January to June 2020
- Dubai Health Authority (DHA) as the regulatory authority
- Dubai Future Accelerator (DFA) as the prime accelerator
- Main Events and conferences
- Dubai Department of Economic Development (DED), Dubai Healthcare City (DHCC) for health tech licensing and other information
- Startup steps and financing guidance
- For F&B startups, the guide highlights
- Dubai F&B market is estimated to grow by 6.9 per cent YoY, UAE’s National Food Security Strategy 2051 stresses upon local domestic food processing for self-reliance, a tremendous surge in demand for packaged food etc.
- Dubai Municipality as the sole controller of food safety and licensing through DED and Food watch platform
- UAE Food and Beverage as the accelerator
- Important events and conferences including Halal Expo, SIAL Middle East etc.
- For Travel, Tourism and Hospitality business, the guide specifies
- Key market statistics e.g. Dubai’s ranking as 4th most popular global tourist destination and 3rd in International tourism spending approximately AED 102.47 billion in 2019 etc.
- Department of Tourism and Commerce Marketing ( DTCM) acts as the business regulator
- INTELAK HUB and WAMDA as accelerators
- Digital Travel MEA, Arab Medical Travel as important events
Similarly, for startups in sustainability and education businesses, all important and pertinent information is provided in the respective guides.
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IMC Group