It is a common refrain among founders, mentors, life coaches, motivational speakers, and others that it’s never too late to start your own business.
But the idea that it’s never too early is discussed far less. The Emirate of Dubai, with its forward-looking vision and commitment to constructing the future today, is more focused on the latter strategy.
The city is geared to mould future entrepreneurs, from a recent new strategy that includes the establishment of innovation and economic free zones in universities across Dubai led by the Hamdan Bin Mohammed Smart University (HBMSU) to INJAZ UAE’s programmes that teach entrepreneurship at the high school level and not-for-profit initiatives like The Assembly’s collaborative community maker space and smart lab that equips students with practical tech skills to bring their ideas to life.
A LAUNCHPAD FOR INNOVATIONS
Indian entrepreneurs are currently drawn to the Dubai Start-up Hub by its USD 100 million start-up fintech fund. With technologies like blockchain, artificial intelligence (AI), and data analytics, the initiative is exciting to mentor start-ups and young business owners
Five organisations are now actively supporting start-ups in Dubai. The organisations giving the start-up culture the necessary push include Dubai Future Foundation, Dubai Smart City Accelerator, Smart Dubai, Dubai Silicon Oasis Authority, and Dubai Start-up Hub run by the Dubai Chamber.
Early-stage start-ups account for close to 50% of all companies established in Dubai, according to a survey by the Dubai Statistics Centre. According to estimates, these businesses provide more than 47% of the UAE’s annual GDP. The city’s attraction as a global hub for start-ups and aspiring entrepreneurs is highlighted by this study and numerous other recent ones. Dubai continues to provide the best environment for innovation in the Arab world while also drawing in talent from around the world.
BRIGHT PROSPECTS
The government of Dubai is doing everything possible to support aspiring business owners in realising their goals. The Dubai Digital Park, a project of the Dubai Silicon Oasis Authority, is the first smart city in Dubai and is marketed as the ideal location for businesses. The Dubai Digital Park provides a variety of tiny offices, corporate labs, and acceleration spaces for entrepreneurs, corporations, and even investors. Co-working, acceleration, and innovation programmes are all included in the plan, which creates the ideal ecosystem for companies.
Another outstanding project is Impact Hub Dubai, a group of techies and entrepreneurs in the UAE. The programme aims to redirect attention away from profiting and link ethical entrepreneurs and investors. It provides communal and co-working space in Dubai’s well-known Downtown area.
Another significant programme, Dubai Future Accelerators, is a ground-breaking initiative that will link cutting-edge businesses with top government officials in Dubai. The programme invites entrepreneurs and multinational corporations together to work together on various technology-driven projects. Dubai Future Accelerators promotes prospects in artificial intelligence (AI), robotics, 3D printing, genomics, biotechnology, and new business operating models.
