Hub71, a business incubator The Abu Dhabi government created Hub71 to support technology startups in the emirate by attracting major venture capital funds and investors in order to increase the capital reserve available to new companies and venture capital in Abu Dhabi. The United Arab Emirates plans to reduce carbon dioxide emissions to zero by 2050. This incubator provides early- and late-stage aviation, travel and tourism start-ups with access to programs, mentoring from leading organizations and a community of like-minded individuals to launch, grow and scale their startup. Early-stage projects can receive funding of AED 50,000 (USD 13,600).
In addition, the Intelak platform also has an accelerator and an independent Idea Lab program for local start-ups. Dubai Future Accelerators Project The latest project involved 70 companies from 16 countries, 6 government agencies and 27 private companies. As a result of the first cycle, contracts worth $33.5 million were awarded. The accelerator's 3+3 month intensive program provides selected smart city companies with practical guidance from more than 100 industry experts, offices in Dubai, seed funding and access to a global network of investors and corporate partners from across the smart city industry.
In terms of size, the largest are Area 2071, HI2, Intelak, GoodForce Lab, Bedyat, Astrolab. We recommend the Area 2071 and AstroLab services, as they are the most experienced in the IT field. E Sameh Al Qubaisi, Director General of Economic Affairs at ADDED, said: “This program is in line with ADDED's commitment to support and develop successful projects and to provide regulatory and institutional frameworks that support innovation and research and development (R&D) in vital economic sectors. There are many incubators in the United Arab Emirates, where a startup has access to project funding, to an environment of like-minded people and also to the support of mentors.
Creating new business opportunities and directing entrepreneurial talent to emerging sectors are particularly important, as the United Arab Emirates seeks to build a prosperous future for its young generations by investing in humans and in advanced science and technology, Al Janahi added. Public and private institutions, which invest in innovative technical solutions and support research and development (R&D), can obtain the license of innovation incubators, after a thorough review by experts and in accordance with the best practices and policies in this field. The network's incubators offer a variety of services, packages and events that help entrepreneurs to operate in an enabling environment, as well as specialized laboratories for innovators to design, develop and test their prototypes before launching them as projects. Concept +, the latest addition to the Dubai Business Incubator Network (DBIN) of certified business incubators and accelerators by SMEs in Dubai, seeks to encourage young entrepreneurs to unleash their creativity and achieve their full potential.
This is a type of company or project in the United Arab Emirates that evaluates the potential of a startup, tests its viability and facilitates development by taking advantage of financial and non-monetary incentives. We believe that this will help improve the innovation ecosystem in Abu Dhabi and will support the continued development of the business environment and strengthen Abu Dhabi's status regionally and globally. In June of last year, it also partnered with the American University in Dubai to establish a business incubator to encourage innovation and entrepreneurship among students. As part of its efforts to improve the innovation and entrepreneurship ecosystem in the Emirate, the Abu Dhabi Competitiveness Office (COAD), which is part of the Abu Dhabi Department of Economic Development (ADDED), has officially launched the “Abu Dhabi Innovation Incubator Program” to help people who want to turn their ideas into innovative business opportunities that, in turn, will support a diversified, solid, intelligent and sustainable economy.
DBIN also acts as a reference and catalyst for business incubation programs in the country, and also motivates and supports the private sector to invest in business incubators and accelerators. In addition to the network of incubators for the development of new businesses, accelerators are widespread in the United Arab Emirates, contributing to the development of companies. Concept + is the latest addition to the Dubai business incubator network, certified by an SME in Dubai. Welcoming Concept + to DBIN, Abdul Baset Al Janahi, CEO of Dubai SME, praised the role of specialized business incubators and the private sector in supporting the economy and developing a new system that meets the needs of the next phase of entrepreneurship.
Dubai Start-Up Hub is a strategic initiative of the Dubai Chamber of Commerce and Industry that supports young entrepreneurs and start-ups that have been in the market for less than five years. .