Dubai is undoubtedly the world’s leading technology hub! Its recent breakthrough in technology has attracted a lot of investors, entrepreneurs and incubators. Most of the companies based here are tech startups in their initial incubation stage. These startups have become one of the primary influencers in the economic growth of Dubai.
The government has also reformed its policies to meet the business requirements of SMEs. The idea behind this change is to accommodate as many new ventures as possible. It is continually supporting startup culture by making vital services available at reduced costs. With a host of services and support, starting a tech venture is sustainable and beneficial. Excited to step into the realm of startups? Let’s have a look at the advantages of setting up a tech startup in the great city of Dubai!
Availability of Funds
The major pain point of every startup is continual access to funding. Dubai is a potential ground for business investors from all across the world. Over the years, the governing body has worked substantially to make the emirate investor-friendly. This is one of the main reasons that encourages tech entrepreneurs to establish their business in Dubai.
Seed funding for tech startups is available easily and entrepreneurs can solely focus on their business goals without having to worry about the financial aspects of business setup. With a constant inflow of investment, it is easier for startups to flourish in the business environment.
Dubai is known for its infrastructural advancements. Most of the infrastructure is highly efficient in operation and maintained regularly. Startups can utilise the free trade zones which provide excellent working spaces at minimal costs. The top-notch office spaces are readily available with world-class amenities. There are several developmental projects planned that’ll further enhance the infrastructure and improve living standards.
In the midst of company formation, it is necessary to comply with tax policies and mandates. Heavy taxes can be discouraging, especially when you have a restricted budget. Taking these factors into consideration, the Dubai government has eased its tax policies to suit the business requirements of Startups. It has introduced several reforms that help in tax saving and exemptions. Also, the entire process has become easier with digital platforms.
Innovation and Research
Dubai is swiftly moving towards technical advancement. The government and corporations are more focused on emerging technologies such as blockchain, artificial intelligence, cognitive technology, virtual reality, augmented reality, deep technology, and quantum computing. This is great news for tech startups as there will be increased opportunities for innovations. Businesses can also avail resources that’ll help them in carrying out extensive research.
The Dubai Expo 2020 is a much-awaited event that will bring together SMEs and larger corporations to work towards shaping a better future. Tech startups will be at the forefront of developmental projects and the event can reap good benefits for sustainable growth.
Business Setup Services
The major problem while setting up a business is to go through the entire legal process and requirements. But this can be easier by availing a business setup service in Dubai. There are many platforms that provide assistance in company formation.
Here at Commitbiz, we help business owners with company registration, local sponsorship, legal advisory, tax consultation, intellectual property protection and lots more. Contact us today to get started with your business journey!
What is the best location to open a tech business in Dubai?
Dubai South freezone
International Freezone Authority Dubai
Dubai International Financial Centre
Etc are some of the best freezone for a tech start-up
What is the future of tech start-ups in Dubai?
The Expo 2020 has brought several opportunities and by 2023 IT industry spending is predicted to reach $8.2 billion.
How much will it cost to set up an IT firm in Dubai?
It depends on the location, the services you offer and the scale of your business. However, generally, it costs around 20000 AED.
What are some of the funding options to look for to open an IT start-up in Dubai?
Etc can be some of the best options
What are the advantages of starting a tech company in Dubai?
Dubai with its best infrastructure, technological developments, tax benefits and many other specialities stands as the best place to start your IT business.