Dubai unveils handbook to support digital economy start-ups

It will focus on sectors like AI, 3D printing, cyber security, digital assets, FinTech, gaming and the metaverse

The Dubai Chambers office. The UAE has taken several steps to attract more digital companies to the country. Victor Besa / The National

Dubai has published a guide to help entrepreneurs and start-ups in the digital economy establish their businesses in the emirate as the UAE seeks to double the contribution of the technology sector to its gross domestic product over the next decade.

The Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, published the Dubai Start-up Guide that offers an overview of the city’s start-up ecosystem and guidance on the requirements to establish companies in the emirate, including legal requirements, business set-up options, and funding opportunities.

The handbook includes a list of entities involved in empowering start-ups, along with information on Dubai’s accelerators, business incubators, sandboxes and free zones, according to a statement from the Dubai Chamber of Digital Economy on Saturday.

The UAE has taken steps to attract more digital companies to the country.

In 2021, Dubai launched a Dh1 billion ($272.3 million) Future District Fund to support technology companies and encourage them to list on the emirate’s stock market. The fund has set a $1 billion target for assets under management by the end of 2024, a fourfold increase since it was established to invest in technology start-ups.

The same year, the UAE unveiled the Entrepreneurial Nation initiative, which aims to make the country home to 20 unicorns by 2031, as well as attract and expand small and medium-sized enterprises.

The country is also offering incentives such as access to finance and simpler visa procedures to help technology companies move their operations to the UAE as part of the NextGenFDI initiative.

In 2022, Dubai formed a higher committee for future technology and digital economy as it seeks to establish itself as a global centre for the future economy. The eight-member committee will supervise the execution of strategies related to the digital economy and future technology in Dubai.

The UAE announced its Digital Economy Strategy in 2022, with the goal of increasing the contribution of the sector to the gross domestic product by 20 per cent over the next 10 years as it seeks to exploit cutting-edge technologies and attract high-skilled talent.

The Dubai Start-up Guide features sector-specific guidelines for establishing start-ups within 10 areas of the digital economy that include details of specialised free zones, accelerators, business incubators and sandboxes, as well as events and regulations relating to each sector, according to the statement.

The sectors covered include artificial intelligence, 3D printing, cyber security, digital assets, FinTech, education technology, gaming, health technology, software/SaaS and the metaverse/Web3.

The guide is designed to help both local and international start-ups navigate Dubai's business landscape, the statement said.

Additionally, it provides practical advice, access to online resources and recommendations for tailored support.

Dubai Chamber is organising the Expand North Star summit, an event dedicated to connecting start-ups with investors. The summit will be held in Dubai from October 13 to 16 and is expected to attract more than 1,800 start-ups and 1,200 investors.