Dubai is taking a major stride towards accelerating growth in the digital sector with its groundbreaking Driving Tech Start-up Initiative. This ambitious initiative aims to attract digital start-ups to establish and thrive in the emirate, propelling the growth of the tech industry. As part of its long-term vision, Dubai seeks to double the contribution of the tech sector to its gross domestic product (GDP) over the next decade. Scheduled to launch in September, the Driving Tech Start-up Initiative will collaborate with private sector and government entities to offer a comprehensive range of incentives, aiming to create a highly appealing and conducive environment for digital companies.
Consolidating Incentives for Start-ups
The Driving Tech Start-up Initiative by Dubai Chamber of Digital Economy is designed to consolidate all existing incentives for digital start-ups in Dubai under one unified platform. This strategic move aims to streamline the incentives that are currently scattered and create a coherent ecosystem for new and existing digital businesses. By unifying these incentives, Dubai aims to position itself as the most attractive environment in the region for digital start-ups to set up and expand their operations.
Partnerships and Collaborations
To ensure the success of this initiative, Dubai Chamber has already signed initial agreements with key partners, including Telr, Dubai CommerCity, e& (formerly known as Etisalat), and Safexpay. These partners, along with several other companies and institutions expressing interest, will play a vital role in offering incentives and support to digital start-ups. The Driving Tech Start-up Initiative aims to build a broad network of partners committed to the growth and success of the digital ecosystem in Dubai.
Driving the Digital Economy Strategy
The Driving Tech Start-up Initiative is a crucial component of the UAE’s Digital Economy Strategy, which aims to increase the tech sector’s contribution to the GDP by 20% over the next decade. Dubai’s target of attracting 300 digital start-ups to the emirate by 2024 demonstrates its commitment to diversifying the non-oil GDP and leveraging cutting-edge technologies. By nurturing innovation and attracting highly skilled talent, Dubai positions itself as a global hub for the future economy.
Comprehensive Incentives for Digital Start-ups
Under the Driving Tech Start-up Initiative, digital start-ups, both local and international, can avail themselves of a wide range of incentives. These incentives include discounts on commercial offices, technology, infrastructure such as connectivity and data-hosting, and more. The initiative is applicable to companies operating in both free zones and the mainland, ensuring inclusivity and equal opportunities for all digital entrepreneurs.
A One-Stop Shop for Start-up Needs
The Driving Tech Start-up Initiative will introduce a comprehensive platform that acts as a one-stop shop for licensing services, banking facilities, office space, cloud services, and other essential requirements. This centralized approach will simplify the start-up process, eliminate bureaucracy, and enhance the ease of doing business in Dubai. By providing streamlined services, the initiative aims to create a favorable and supportive ecosystem that nurtures the growth and success of digital start-ups.
Enhanced Packages and Incentives
The Driving Tech Start-up Initiative promises enhanced packages and incentives that surpass those currently offered by free zones. The collective approach of the initiative enables partners to align their offerings and create attractive packages for digital start-ups. During the official launch in September, each partner will unveil detailed information about the packages they offer, further incentivizing digital companies to choose Dubai as their base of operations.
Thus, Dubai’s Driving Tech Start-up Initiative is a testament to its commitment to becoming a global leader in the digital economy. By consolidating incentives, fostering partnerships, and offering comprehensive support, Dubai is poised to attract and nurture digital start-ups, driving the growth of the tech sector. This initiative aligns with the UAE’s Digital Economy Strategy and supports Dubai’s vision of becoming the most attractive destination for digital companies in the region. As Dubai continues to create a favorable environment, it positions itself as a premier hub for driving tech innovation and economic growth.