The United Arab Emirates is witnessing steady economic growth due to which start-up incubators have become an essential element of the entrepreneurial ecosystem. Even sometimes, for the most experienced businessperson, incorporating a company from scratch can be a mammoth task. Today, with so many people from all around the world coming to the Emirates to explore the enormous opportunities, business incubators are not only helpful but necessary.
Dubai is a hub for setting up a business in the UAE for many entrepreneurs and investors. Dubai is currently witnessing the new rising opportunity in the professional industry, and a lot of entrepreneurs and investors are set to make the most of it. If you plan to establish a business incubator in Dubai Mainland, the professional license is the essential legal document to start with. We at Commitbiz can assist you in getting a professional license for creating your business incubator company in a hassle-free manner.
Startup Incubator in Dubai
Starting a business incubator comes with a lot of advantages. The business incubators are a platform where bright minds develop the most innovative ideas, which they churn into successful business later. Such platforms often provide a complete plug-n-play setup, which lets startups start with their work after purchasing the membership. Thus they let entrepreneurs focus on the core tasks of refining their ideas. Not just a workplace, but incubators also play the role of learning hubs, nurturing creative & tech minds under the same roof. Incubators act as a medium for private investors & governments to attract potential startups ready to begin.
Startup incubators in the UAE provide world-class facilities with state-of-the-art infrastructure for the flawless functioning of your businesses. Support of such incubators can be beneficial to startups from different sectors.
Activity Details of Business Incubator in Dubai
- Activity Code: 7020029
- Activity Group: Real estate
- License Type: Professional
- Activity Description: It’s a venue designed to house startup entrepreneurs and enterprises where they can enjoy an array of business support and guidance; this involves the provision of office spaces and technical and administrative services, innovative ideas and counselling, marketing and business potentials planning, bank finance choices, coordinate interaction with the business community outside the incubator to build relations
Essential Requirements to Setup a Business Incubator in Dubai
- The applicant must be a citizen of the UAE
- The business must be wholly owned and managed by the UAE national
- The official address of the company must be in Dubai
- During the exemption period, only one license will be issued
- If the application is for an existing business, it should not exceed three years since the startup
- The number of trade licenses issued per applicant before submitting a membership application should not exceed four
How to Setup a Business Incubator in Dubai?
The steps to set up any business in Dubai are similar with only difference in business license and the regulatory authority who permits the license. The setup steps are –
- Decide on a trade name for your business. Make sure that the name is unique and is not used by any existing company in UAE
- Since the business activity is already known, the next steps are quite hassle-free
- Get an initial approval from the Department of Economic Development (DED) Dubai
- Submit all the required documents as mentioned below to get the license
- Pay fees
- After reviewing all the documents, if everything is correct, you will be given the license to officially start your business operations.
Documents Required to Start a Business Incubator in Dubai
- Diploma or Certificates in case of consultancy license only
- UAE Passport/Family Book
The UAE government has backed the Startup Incubator business by bringing in initiatives like 100% ownership in Dubai. This initiative aims to regulate Incubators and Business Accelerators and increase SME participation and GDP from 40% to 45% by the year 2021. The 17 accelerator programs, 12 incubators, and seven co-working spaces allocated will build a flourishing environment for entrepreneurs to set up their companies, potentially fail, and restart them through government incentives.
How can we help?
We at Commitbiz can help set up a business incubator in the UAE with the help of our business setup consultants. Right from incorporation to office space, we cover it all. Our professionals have 13+ years of experience in this field and can make the process hassle-free. Contact us today - we’d be happy to help you.