How Companies can Expand Business in Dubai with Government Support
As several tech companies are focusing to tap the consumer market beyond their own territories, governments are also taking a step forward by giving them a platform to establish business.
Likewise, Dubai, which is widely known for its tech innovation, is now encouraging businesses around the world to come and be a part of their ecosystem.
In a recent deal with NASSCOM, an Indian government body, Dubai Internet City (DIC) signed a Memorandum of Understanding (MOU) to facilitate small and medium enterprises affiliated to the industry body to expand in West Asia and North Africa.
A 20-year-old government organization, Dubai Internet City, is an information and communication technology hub that houses major IT firms from around the world. As part of the memorandum, DIC will provide NASSCOM’s SME and tech start-ups an opportunity to establish themselves in Dubai and provide the necessary support to grow in the region.
In a conversation at NASSCOM-SME Conclave on January 10, Ammar Al Malik, managing director of Dubai Internet City, spoke about how Dubai is a gateway to a bundle of opportunities at this point of time and how the government support can help the companies thrive in the country.
Ameer Al Malik. managing director, Dubai Internet City
A land of opportunities
Dubai has grown from a base of trading to a big technology hub for the Middle-east, says Ammar Al Malik.
“It is a gateway for startups, which gives a lot of opportunities to the people who have an innovative idea to do business,” he says. If you have a good idea, reach out to us, adds Malik.
DIC has been offering a base and support to startups and SMEs from the past few years. The organization houses a stellar line of investors from Middle-east, South Africa, UAE, and other Gulf Cooperation Council (GCC) countries.
“If you want to introduce museums of the future then you need the tech hub like Dubai. It’s an area where you will see all these inventions coming in,” says Malik. The company is focused on technology sector and is cashing in on major technologies like big data, AI, and blockchain.
DIC is also incubating startups with its one of its kind incubation cell called In5. The criteria to apply on In5 are quite simple as it vets companies on the basis of their idea, technology and innovation.
“It allows the company to test the field, if they can or not. Once you come in the market, you network with people and be a part of the ecosystem,” explains Mali. Dubai has been a part of tech revolution from a long time. Many startups from the region have also taken over consumer market to its rival global companies. For instance, recently Dubai-based Careem has beaten Uber in the ride-hailing space.
Fostering SMEs, not only startups
The focus of the organization is not only startups or giants like Google, but also the small and medium enterprises in the region. “Our first approach was to inculcate big corporation, but we were lucky to have a lot of small enterprises to work with us,” says Malik. “Dubai is giving opportunity to establish the future here.”
While explaining how the organization is pushing investors in the region, Malik says, “We are not really pushing global investors but yes we have a lot of international banks who are operating once they get a go-ahead from the government.”
(With inputs from Komal Nathani)