In the race of making the emirate the capital business region, Dubai SME’s business incubators license offers 100% ownership to all and anyone who is interested in their license ownership can get and apply for their license by applying on their websites.
And when a new innovative businessman and students give their opinion and tell them about their unique ideas they get full ownership from them and their ideas are then more investigated by authorities to find out that their ideas are useful or not.
The UAE principle give permission to 49% ownership to companies and as free zone, they give 100% ownership to a country, this point an announcement was a part of new terms and regulations of “Incubators and Business Accelerators” for new or innovative entrepreneurs,
The new regulations also provide a legal form for the incubator for the new businessmen and students if they have a unique idea; it was said by Abdul Baset Al Janahi, CEO, and Dubai SME.
Many initiatives have been taking part locally and to support entrepreneurship and beginners in the UAE, especially in DUBAI.
Incubator by Mohammad bin Rashid like Dubai Startup Hub by Dubai Chamber and Hamdan Innovator these establishment to empower the Emirates for the capital of business regions.
About 40% in 2017 to 47 % in2021 Dubai aims to bolster the SME’s contributions GDP.
About 17 accelerator programmers, 12 incubators, and 7 co-working spaces are in UAE, says MAGNiTT, a platform that shows tracks to developments to entrepreneurship space
“Given the challenges associated with starting a company, we believe that to create a flourishing environment for startups, it is important to create an ecosystem where founders are able to cost-effectively set up, potentially fail and still be incentivized to start up again. The serial entrepreneur is proven to be the best founders who learn from their mistakes,” said Philip Bahoshy, CEO, and founder of MAGNiTT.
He was the one who noticed initiative from the government to made incubators and working spaces to startup in cost effective manner with total 100% ownership.
“So, if you want a startup ecosystem to mature, I think 100 percent ownership is attractive and it is a right step in the direction by the Dubai government. This will result in mushrooming of several emerging vendors and people will conceptualize products that will fit the economic need of the region itself. This is definitely going to accelerate emerging vendors and accelerators coming into the region,” Rao said.
In addition, this will also help boost foreign direct investment inflow into the emirate, he added.
Jebin George, programmer manager, IDC Cena, that to give 100% ownership it will make more easy and quick for the people to start work in Dubai and more from more incubator will develop and this is a benefit for the companies who want to make their presence in regions internationally or privately.
George of IDC sais that the two main important categories in UAE where startup activities are ICT AND E-COMMERCE.
He said that landscape will affect mainly to these two factors
“However, as it becomes easier for foreign investors and private companies to set up incubation centers, we expect to see the opening of centers with a focus on specific sectors as well, such as oil and gas and manufacturing,” he concluded in the last.
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