Abu Dhabi Tech Hub on the Way to Support Start-Up

by commitbizadmin 17, Mar 2020

Abu Dhabi Tech Hub on the Way to Support Start-Up

The capital of the UAE, Abu Dhabi majorly focuses on oil and exports. Abu Dhabi has most of the oil calculating ninety-two billion barrels. They led to stress on the tourism factor as well. As the magnificent infrastructure is attracting a lot of people in Abu Dhabi. Recently it is seen they are implementing strategies to join Abu Dhabi for the growth of the economy.

Strategies to Join Abu Dhabi Tech Hub to Support Start-Up

Hub71, A global tech hub which is supported by some of the influential technology investors. The companies are to stimulate the Emirate's goal of becoming the nucleus of a vibrant tech start-ups ecosystem is driven by Mubadala is in collaboration with Microsoft, Abu Dhabi Global Market and SoftBank Vision Fund has promulgated that Tech stars and Starburst two new partners will be joining them within the end of the year. This seeks to escalate the local economy by bridging start-ups innovators and global powerhouses in the technology industry together.
Tech stars are stated as a mentorship-driven that accelerates the offers a worldwide network and funding, and on the other side, Starburst ranks first in aerospace accelerator across the world.
This escalation targets to maximise success for start-ups anywhere in the world. That will bring direct access to funds sector expertise and a global network of industry leaders
as well as a remarkable twelve weeks mentorship program.

Mahmoud Adi’s View

The head of Hub71, Mahmoud Adi’s words upon this matter was “We want to position Abu Dhabi as a leading global city for ambitious founders seeking to set up and grow their technology companies. Hub71's mission is to remove regulatory roadblocks faced by start-ups"

They are looking to grow a global network of technology partners and investors around Hub71 founders to increase their chances of success. He added that within the first month of launching Hub71, they have successfully tied two strong partnerships with global accelerators.

Till September, they open for applications in September they will go forward to double down the efforts to suggest the world’s fastest tech company setup and excel at supporting early and growing the start-ups.
This new hub will be in Abu Dhabi Global Market Square on Maryah Island and is estimated to attract more than hundreds of start-ups in the next years in different sectors which includes autonomous driving, transportation, cyber security, food system, financial services and food supply chain.  
It’s a Dh-1 billion government initiative of which Dh500 million is subjected as an investment in funds, companies and Dh500 million will be used as incentives to support start-ups with office space, housing and insurance under Ghadan 21 initiative.
Mubadala Ventured is the tech arm of the Mubadala Investment company, which is having assets of around two hundred twenty-five billion all across the world.
Microsoft Gulf said the new hub would empower start-ups and entrepreneurs to develop, scale and build to grow.
 Hub71 is a prime initiative of Abu Dhabi's Government's Ghadan 21 economic escalating program.

How to Start Your Company in Abu Dhabi?

Plan Accordingly

Irrespective of the type of business you want to start, it is essential to follow up with your idea with a proper market study. Market research helps you to justify the needs of the city, and finally, you will decide whether the risk is worth or not

License

Mostly start-up looks to settle for a Limited Liability Company (LLC) Licence. The license changes according to what type of business you are aiming to open. A business in a free zone or Mainland or in onshore they have different sets of rules.
Different Types of licenses are

  • Agricultural License
  • Professional License
  • Vocational License
  • Commercial license
  • Tourism License
  • Industrial License

Get an Address

Depending on the type of your business, you need to find an office space, work address or a PO Box.

Local Sponsor

You need to find a local sponsor (an Emirati) to establish your business in Abu Dhabi who will take care of the necessary licenses for the brand office without bearing liability capital contribution or losses.

Register your Trade name

A trade name states business and represents its nature and legal form.

Our Business Services in Abu Dhabi

  • Company Incorporation
  • Company Registration
  • Public Relation Officer services (PRO)
  • Auditing
  • Accounting and Booking
  • Tax Consulting
  • Value Added Tax Registration
  • Setting up a branch in Abu Dhabi
  • Intellectual Property protection

Why Commitbiz?

Commitbiz helps the entrepreneurs to achieve their dream in setting up a company in Abu Dhabi through company registration and legal services. Our experts look after the formalities such as visa, banking, legal and licensing formalities. We guide you through the formation of your company by handling all kinds of formalities.
For further information, contact us, we will be glad to help.