The United Arab Emirates is witnessing steady economic growth, due to which startup 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.
If you plan to establish business incubators in Dubai Mainland, the professional license is the essential legal document to start with. 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. It is currently witnessing a new rising opportunity in the professional industry, and a lot of entrepreneurs and investors are set to make the most of it.
Startup Incubators in Dubai
Starting a business incubator comes with a lot of advantages. Business incubators are a platform where bright minds develop the most innovative ideas, which they churn into successful businesses later.
Such platforms often provide a completely plug-and-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.
We at Commitbiz can assist you in getting a professional license in Dubai to create your business incubator company in a hassle-free manner.
Activity Details of a 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 counseling, 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 Dubai Startup Incubator
- 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 Business Incubators in Dubai?
The steps to set up any business in Dubai are similar, with the only difference in the business license and the regulatory authority that permits the license. The setup steps are as follows:
1. Decide on a Trade Name
Decide on a trading name for your business. Make sure that the name is unique and is not used by any existing company in UAE.
2. Get the Initial Approval
Get initial approval from the Department of Economic Development (DED) Dubai.
3. Documents Required to Start a Business Incubator in Dubai
Submit all the required documents as mentioned below to get the license.
- Diploma or Certificates in case of consultancy license only
- UAE Passport/Family Book.
4. Pay the Fees
Make the payment, and then after reviewing all the documents, if everything is correct, you will be given the license to officially start your operations for a business setup in Dubai.
The UAE government has backed the Startup Incubator business by bringing in initiatives like 100% ownership in Dubai.
Set Up Your Dubai Startup Incubator with Us
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 14+ years of experience in this field and can make the process hassle-free. Contact us today - we’d be happy to help you.
Who is assisting startups in expanding Dubai's economy?
Business incubators are aiding startups to grow Dubai's economy.
How did business incubators help the entrepreneurs?
A business incubator helps an entrepreneur on the path to a successful business by providing mentorship, networking opportunities, and investor introductions.
What is the name of the most recent incubator in Dubai?
The most recent incubator to open in Dubai is the Ztartup incubator.
Where is the Ztartup incubator located?
Dubai Healthcare City
What are the top business incubators in Dubai?
Dubai's topped business incubators are In5, Bedayat, Astrolabs, and FinHive.
When and who founded FinHive, a Fintech incubator?
The Fintech incubator FinHive founded the Dubai International Financial Centre in January 2017.