How Dubai’s Incubators Aid Start-Ups For Growth & Expansion

Tally Solutions | Updated on: February 4, 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.