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Abu Dhabi Action Learning Module 2013 Doing Business in the Middle East Topics
The number of incubators and start-up support companies has also increased.
New incubation initiatives from free zone authorities, such as Dubai Silicon Oasis, Dubai Internet City, and potentially the Telecommunications Regulatory Authority (TRA), are expected to be launched. The UAE is also home to two Social VC companies, Baraka Ventures and Willow Impact Investors.
Taxation
Ability to enforce contracts Time and cost of doing business across borders
Starting a business Dealing with construction permits Getting electricity Registering property
Getting credit
Protecting investors Paying taxes Trading across borders Enforcing contracts Resolving insolvency
Source: Doing Business 2012, IFC, World Bank
78
122 7 5 134 151
Getting Credit
Filtered Rank
Paying Taxes
Registering Property
Economy
22 26 40 42 47
1 2 3 4 5
6 1 10 8 5
4 2 3 1 5
2 1 3 7 9
1 1 5 4 3
1 2 6 11 2
1 14 9 6 9
3 1 2 4 5
4 1 10 9 7
13 7 6 9 8
Resolving Insolvency
Protecting Investors
Getting Electricity
Enforcing Contracts
Starting a Business
10 9 2 1 6
Start-Up Support
Start-Up Ecosystem
Other factors
No bankruptcy law and no rights for non-Emirates Easy and fast, in dedicated Free Zone All business must be focused outside of the UAE Option of 49% equity, alongside 51% local partner, to start a company that targets the UAE market
Equity is a new concept in the region, funding can come from other geographies Cash flow can be a challenge if physical space is needed; to open an office requires significant spend right away Dedicated centers to gather and work together: free public work spaces with free wi-fi, good furniture, and coffee bars Free start-up weekends, but largely do-it-yourself training Strong network among INSEAD alumni Supportive culture, including strong informal networking Some say ecosystem is still young, with a somewhat limited number of true, full-time start ups Real estate and property development, as well as retail and luxury goods, are overall strong, consistent markets Direct access to government officials, small town feel, and strong networking culture are worth considering
Fares Boulos Affiliated Professor of Practice in Strategy
Start-Up Support
Start-Up Ecosystem
Other factors
On the Start-Up Scene I love it. The creative energy is amazing. I get to coach companies trying to launch here and expand. On the Start-Up Scene There is a small handful of people turning a profit. There is a larger circle of people who are part of the lifestyle but do not run their own start-ups. some huge successes, including e-commerce.
On what is different here Free work space is better than Silicon Valley, and it is easier to collaborate and find synergies. On what is different here Cash flow is challenging. Just paying for space can mean youre spending at least $4,000 a month from the start. The UAE is trying to foster entrepreneurship, to make risk taking-taking more acceptable here. Depending where you are from, the tax benefits are the key reason this is an attractive place to launch. This place is fun if you want to make your own map. I thrive on just figuring stuff out. 10
Works full time in a traditional role, running internet start-ups ` on the side
Regulatory Environment
Jebel Ali port is the worlds largest container port between Rotterdam and Singapore.
Connectivity
Easy access to 4th busiest airport in the world Dubai International Airport.
While starting a business in the Free Trade Zone requires renting physical space, there are ways to minimize costs.
Other
Ease of recruiting skilled and unskilled expatriate labour to support operations.
11