Read about Dubai Start Up Hub if You are an Aspiring Entrepreneur! Don't Miss This.
When it comes to Dubai Start Up, their major goal is to empower entrepreneurs through a variety of programmes, workshops, training, marketing, promotion, and advocacy initiatives at, which is the Dubai Chamber's entrepreneurship division. Dubai Startup Hub is dedicated to assisting both international firms moving into the Emirate and local startups in growing their businesses internationally. They enable startup trade trips, international mentorship programmes, and connecting support to better prepare entrepreneurs for success thanks to their global reach (Dubai Chamber has offices throughout Eurasia, Africa, and Latin America).
In order to make it simple to navigate the Dubai Entrepreneurial Ecosystem, Dubai Startup Hub publishes a quarterly publication called Panorama. Whether you're looking for funding opportunities, information on incubators and accelerators, or the government's perspective on entrepreneurship in the UAE, the publication aims to make it faster and easier for you to access and comprehend the Dubai market.
Thus in this blog, Dhanguard will extensively take you through the aspects of Dubai Start Up Hub. So without any further ado, let’s learn!
Dubai Start Up Hub: Evolution and Motive
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The startup hub was launched by the Dubai Chamber in 2016 and is thought to be the first project of its type in the Middle East and North Africa (MENA) region.
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Its goal is to highlight the importance of partnership between the public and private sectors. Additionally, it encourages innovation and entrepreneurship, which serve as Dubai's and the UAE's primary economic engines.
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It has aided in offering a flexible platform for startups from around the world to investigate commercial potential in Dubai.
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Additionally, it enables them to take advantage of programmes and services like the Co Founder Dubai Program, the Market Access Programme, the Emirati Development Programme, the Dubai Smartpreneur Competition, and others.
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Dubai is regarded as one of the world's top innovators and technological leaders, which is advantageous to companies looking for effective operational solutions.
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According to reports, the Dubai Start Up offers a supportive atmosphere for businesspeople and stands out as a desirable hub where they may grow, innovate, and flourish globally.
Post Covid-19 Effects of the Dubai Start Up Hub
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During the first two quarters of 2020, Dubai Startup Hub's membership grew by 236 percent year over year. Fintech, healthtech, education, sustainability, e-commerce, wellness, and supply chain firms with great potential were drawn to it as a result of the Covid-19 pandemic's impact on the market.
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The increase in business activity is shown by the growth as startups in the UAE and around the world try to tap into expanding markets and offer fresh services to the emirate in the midst of an accelerated digital revolution.
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The number of members of the Dubai Startup Hub increased to 1,568 in the first half of 2020 from 466 in the corresponding periods of 2019.
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Applications increased on average each month by 13 percent.
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The fact that half of it was for key programmes from nations other than the United Arab Emirates confirms Dubai's status as a desirable market for new businesses all over the world.
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In the first and second quarters of 2021, it cooperated with 70 business incubators from countries such as India, the UK, the USA, Hungary, Russia, Germany, and China.
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In order to participate in its main programmes, it had received 50% of the startup applications from abroad.
What are the 8 Sector Guides?
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The sector guides, which were released at the beginning of the year, cover fintech, healthcare, education, transportation, food and beverage, social impact, sustainability, travel, tourist, and hospitality.
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The guidelines were designed by The Hub to offer a complete list of conferences and business incubators that focus on particular industries.
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It is thought of as a cutting-edge new tool that might benefit startups. They are also included in the strategy developed by the Dubai Chamber to deal with the pandemic's effects.
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A sizable sum from the Dubai Chamber is rumored to have been set aside for educating entrepreneurs and supplying them with information at critical moments.
What has been the impact of the 8 Sector Guides?
The goal of the Dubai Startup Hub is to assist new businesses in understanding and navigating the steps necessary to open shop in Dubai. As well as laying a solid platform for cooperation and partnership, it facilitates the interchange of information and expertise. The entrepreneurial ecosystem in Dubai will gradually grow thanks to this initiative, which also solidifies Dubai's status as a top location for aspiring business people worldwide.
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Over the course of its five editions, the Dubai Chamber's Networking Series attracted around 1,650 attendees, including investors, startup founders, and seasoned businesspeople.
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48 sessions were held, and participants showed up to share their successes, discuss strategies to get over obstacles, emphasize the resources they needed to grow their enterprises, and contribute to the building of a collaborative environment for networking and forming new connections.
The Next round of Co Founder Recruitment
The second cycle of Dubai Startup Hub's co-founder programme, which seeks potential co-founders, was launched in mid-March of this year. Eleven businesses have been chosen, and they will receive training assistance, legal and human resource advice, as well as digital tools that can help business owners pitch to investors and industry professionals. More than 60 applications from entrepreneurs in the MENA region as well as from Canada, Brazil, India, Africa, and Russia were submitted to the programme when it launched and began taking applications in February.
Dubai Start Up Hub’s Approach to a Digitally Powered Economy
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The Hub is anticipated to contribute significantly more to the nation's shift to a digitally driven economy. It has worked effectively with partners in the startup ecosystem, enabling it to support a sizable network of startups by 2022.
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These software businesses will help Dubai shift more quickly after the pandemic.
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The advantages provided to SMEs and startups through stimulus packages and business friendly policies put in place by the governments of the UAE and Dubai have also had a favorable impact on the regional entrepreneurial ecosystem.
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A leader in the innovation center for incubators and accelerators in the area, it also served as a magnet for talent from around the world because of its well-developed infrastructure.
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Similar to other countries, Saudi Arabia is creating an ecosystem for innovation and venture funding.
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The recent reforms that opened up its economy have given it tremendous opportunity to introduce innovative technological applications.
Conclusion
Dubai Start Up Hub has been an excellent source in paving a great future for entrepreneurial spirit as well as uplifting the many start ups in Dubai. Because it has established itself as the Middle East's commercial center and offers straightforward company creation procedures, growth has been made possible. In comparison to the rest of the world, it additionally assisted in lowering setup costs. Thus, we hope this blog provided you with insightful information. For more information on other related aspects, feel free to check out our website as well.
