The startup system in Dubai is not only strong but also has an overwhelming number of incubators and accelerators supporting it. The emirate has several initiatives in place to boost business for those looking to launch their startup in Dubai.
To help entrepreneurs identify the most appropriate program for their business, we have put together a guide to the top incubator programs present in Dubai. Here you can go through a detailed overview of the different business incubators available to startups as well as their benefits.
What is a business/startup incubator in Dubai?
Business incubators or startup incubators are special organisations that act as a springboard for early-stage enterprises. They provide all the necessary specialised assistance that early entrepreneurs or single proprietors would need to grow their commercial operations.
Even though incubators are designed to fulfil specific business needs, most offer some common resources and services. These include access to well-equipped office space, business education training, mentorship programs, as well as access to community networking events. As new businesses can have a vast difference in their requirements, all startup incubators follow a variety of processes. They also offer a combination of services like, corporate and legal advice, seed funding, investor meetups etc.
The presence of these resources allows startups to focus on building their business base and ironing out the details all while operating at a significantly lower cost during the early stages of their business incubation. Most business incubators in Dubai are formed and operated directly by the government. Or they are run by collaborative programs with special organisations and renowned entrepreneurs.
List of top business incubators in Dubai
Area 2071 is among Dubai’s top incubators, and it operates under the Dubai Future Foundation. This corporate ecosystem specialises in nurturing global talent to grow their business in the UAE. The incubator offers its members access to a brilliant network of investors, strategic partners, and entrepreneurs while also offering subsidised licensing fees. Startups and entrepreneurs can pay AED 1,000 annually for a commercial license. They can also conduct three business activities in the same category.
Area 2071 allows registered business owners to run their startups with a three-year license, in collaboration with Dubai Development Authority. Additionally, startups need to receive an initial approval from the Dubai Future Foundation Program to register in Area 2071.
In5 is an incubator that supports start-ups through establishing business, providing mentorship, and organising networking events. They also offer investment opportunities and access to labs, studios, and creative workspaces. This business incubator in Dubai was launched by TECOM and focuses on tech, design and media. In5 is named after its five-stage approach to key investment as well as stage processes (submission of strategy, validation, presentation, incubation and traction).
The Goodforce Labs is in the Dubai Airport Free zone (DAFZA) where they focus on being solution providers to support the sustainable development of essential sectors such as food and agriculture, education, finance, lifestyle, etc. Not only do they give direct access to highly experienced mentors and raise awareness of the most concerning social issues in the world, they also encourage their entrepreneurs to come up with initiatives to bring about forward change in the global ecosystem.
Based in Dubai, Faster Capital is both a business incubator as well as an accelerator. Their incubation program, Idea to Product helps founders to build their MVP (Minimum Viable Product) and generate revenue. Their accelerator program, Grow Your Startup, assists new businesses in investing in marketing, business development, product design, and sales boosting. What makes Faster Capital unique is that they cover up to 50% of expenses in either developing the MVP or in expanding the business.
DTEC (Dubai Technology Entrepreneur Centre)
The first ever incubator in Dubai, DTEC falls under the purview of the Dubai Silicon Oasis Authority. Their comprehensive incubator program helps startups transform their early-stage businesses to successful ventures. They offer access to coworking spaces, mentorship and opportunities to pitch your business to potential investors.
Dubai: Promising new beginnings.
With the wealth of numerous incubator and accelerator programs emerging in Dubai, startups have multiple options to choose from. It is essential that founders and entrepreneurs do their research and ultimately, choose one that best suits their business. Even though the startup incubator and accelerator programs in Dubai have a deep well of resources to offer, there is no one-size-fits-all solution to it. Choose your incubator program solely on your own unique benefits and requirements.
Dubai is already in position to become a global hub for startups and innovation, even if the future for startup ecosystems seems uncertain. Entrepreneurs in Dubai have all the support and resources they need to make an impact on the global economy. Which is why business incubators in Dubai are gaining increasing traction in transforming business ideas to reality.
Why choose Shuraa Business Setup for your startup?
This is where the expertise of Shuraa Business Setup comes in. With over 22 years of providing trusted corporate services, we are your one stop guide to everything Dubai. Seeking the best place to start your entrepreneurial journey? We are just a call away at +971 4408 1900. You can also WhatsApp us on +971 50 7775554 or email us at email@example.com.