Here’s How Dubai’s Incubators Have Been Aiding Start-ups for Growth and Expansion

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Tally Solutions, Feb-04-2020

Start-ups and small business have been taking the world by storm. Every country’s economy is trying to expand their start-up culture as they add more value to the nation’s GDP. Studies indicate that the UAE is the world's top hotspot for hundreds of start-ups followed by New Zealand, Singapore, Norway, Germany, Japan and Sweden. A recent report also indicated that start-ups and companies in the Middle East bagged $610.3 million in total funding from external investors, with 93% of them securing more than $1 million each.

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Dubai SME, the agency of the Department of Economic Development (DED) has made it mandatory to provide a boost to the start-ups by giving them access to the right knowledge and technology. Thus, several business incubators have come into the picture to assist small businesses and start-ups and create an ideal environment for them. Business incubators play a significant role in developing start-ups and small business. They provide start-ups with the much-needed administration, training and even office spaces in some cases.

The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development. NBIA categorizes their members’ incubators by the following five incubator types: academic institutions; non-profit development corporations; for-profit property development ventures; venture capital firms, and combination of the above. Among the most common incubator services are:

  • Help with business basics
  • Networking activities
  • Marketing assistance
  • Market Research
  • High-speed Internet access
  • Help with accounting/financial management
  • Access to bank loans, loan funds and guarantee programs
  • Help with presentation skills
  • Links to higher education resources
  • Links to strategic partners
  • Access to angel investors or venture capital
  • Comprehensive business training programs
  • Advisory boards and mentors
  • Management team identification
  • Help with business etiquette
  • Technology commercialization assistance
  • Help with regulatory compliance
  • Intellectual property management

Business incubators ensure that they go that extra mile to create ample opportunities for the start-ups and small businesses to grow and increase their profit margins in a competitive space. They also provide assistance to these small-scale start-ups in a way that they can withstand the bigger players in the market. From technology to the service industry, business incubators have made a mark across industries which have eventually given the start-ups an opportunity to fight for their rightful place despite cut-throat competition. It is precise because of these reasons that Dubai is considered as the best place to invest in the Middle East.

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