With the tremendous economic development in UAE, especially in Dubai, people from all around the world have been venturing into Dubai. In setting up the business and then assisting in expanding it, the Dubai Startup Incubators play a vital role. There are a variety of avenues emerging in every field of business and thus company incorporation and getting funds to run the start-up becomes the most vital ingredient.
Getting funds for the startup in Dubai
To initiate the working of any Company, the very first thing needed is funds. The scale and essence of the company would decide how much capital launch is required. To accumulate the capital for any business in Dubai there are three ways as mentioned below:
Though this idea seems to be very straightforward, there are other ideas associated with it. This includes planning well in advance or can be technically called wealth management for the future requirements of funds. Create a slush fund that can be used for the next three months. It can be used as a pot so that in case of emergencies or any unexpected expenses, you know that you have plan B in hand.
- Apply for Funding
Dubai creates a lot of sources for funds to be used by startups. Dubai Startup incubators and other centers in the Emirates have programs and plan to award and reward ambitious startups and provide aids to them. The UAE Government has also launched several systems and projects to provide financial aids to startups.
- Start on a shoestring
There are also ideas that the Dubai Startup incubators provide where you don’t need funds or the requirement is minimal. If feasible the ideas such as freelancing, plan to have low overhead expenses, utilizing co-working space, low-cost ventures, and many more. There are many examples of such bootstrapping ventures such as eBay, Mailchimp, GitHub who started with a low-cost venture and are now established businesses.
Entire ownership in Dubai.
The Department of Economic Development (DED), Dubai SME has a regulation for the incubator company license to SME, startups, and developers at 100% ownership basis. This is for all those entities who are operating in the mainland in Dubai. The regulation is made to promote the company’s and startups to grow and in turn cultivate the entrepreneurial community of Dubai. This kind of regulation has made doing business in Dubai very easy and convenient.
The Dubai Startup incubators have lots of ways and means to draw investment in the country from local as well as international countries. The fundraising, investment, and return on the same are the main focus of this program.