Business incubators play a major role in developing the business prospects of a region. It’s because of their presence that startups warm up to some countries or regions of some countries and thereby help to uplift the economic profile of the area. But before we delve further into the role of business incubators in Dubai, we would focus on the role business incubators play in developing the economy of a region.
Business incubators provide startups with the much needed administrative and advisory support services. For any startups, these services are worth its weight in gold. The overarching objective is to help new firms become financially viable so that they can survive and grow on their own. It is with this early round of hand-holding, that startups get a foothold in far-off countries and slowly, with time, entrench their position to emerge as major business players.
Business incubators in Dubai go out of their way to create ample opportunities for startups in Dubai. They work with them with a strong spirit of entrepreneurship to speed up growth while helping them save on operating costs. As competing with established business players is an insurmountable challenge for new companies in Dubai, the city’s business incubators provide institutional support and resources to help them take on the might of big businesses. This levels the playing ground for the startups. The incubators even provide funding and a network of resources for early-stage startups with revolutionary ideas.
Earlier business incubators in Dubai focused on technology, industrial and service companies. But with the emergence of Dubai as the Islamic economic capital business incubators have started providing support to companies from diverse industries. Silicon Oasis, In5, Startup Wings, i360accelerator and Seed Startup, is deemed as the best business incubators in the region.
Besides business incubators, Dubai's startups scenario is such that they provide entrepreneurs with a competitive set of accelerators to jumpstart their business in Dubai and put it on a trajectory of growth. It is precisely because of these reasons that Dubai is considered to be the best place to invest in the Middle East.