An Introduction to the Dubai Technology Entrepreneurship Campus
The Dubai Technology Entrepreneurship Campus (DTEC) is a government-owned industry created to provide start-ups with a favorable work environment to help them grow and prosper. This entrepreneur center is home to more than 800 different start-ups and offers many events, mentorships, training sessions, and networking opportunities for these new businesses.
This incubator is created by the Dubai Silicon Oasis Authority (DSOA), a government-owned free zone developed to fuel growth in technology-based industries that rely on state-of-the-art infrastructure to operate. It’s also MENA’s largest award-winning co-working hub, with 24/7 facilities that feature high-speed internet, meeting spaces, cafes and complimentary beverages, game rooms, lab spaces, and ample parking. And thanks to these incredible facilities, the region is seeing a massive influx of investors and start-up companies.
The DTEC is also home to a huge start-up boot camp, Intel Center, Intelak Incubator, and more. These innovative industries strive to push the boundaries of artificial intelligence and blockchain technology.
Opportunities Abound for Start-Ups
Dubai has long fostered its economy by enacting business and investor-friendly regulations that streamline licensing and visa application processes and make operating businesses as foreign investors easier. These measures are continuously being adapted to bring in new talent, businesses, and investors to the area.
In the wake of the pandemic, the UAE economy has faltered. Between restricted travel and quarantines, many industries were forced to close up shop, either temporarily or permanently. However, as vaccination rates increase and travel restrictions have been reduced, the market forecast is looking far better than in previous years.
And the UAE is kicking off this economic rebound with the Expo 2020 Dubai, a massive months-long event that will host numerous celebrities, guest speakers, concerts, and more. This celebration has generated over 5.66 million visits in October and November alone and is expected to bring in far more into 2022. And thanks to this massive expo, there has never been a better time to form your new business in Dubai.
Start-Ups are Bringing Cutting-Edge Solutions to the UAE Market
So far, start-up companies from over 70 countries have taken part in the DTEC Dubai hub. These businesses are consistently pushing the envelope of innovation and creating state-of-the-art technology. And by positioning themselves alongside the celebrations of Expo 2020 Dubai, the UAE is set to see an explosion of investment potential for investors all over the globe.
In fact, part of DTEC’s key achievements included successful partnerships that allowed them to serve a larger group of start-ups throughout the UAE. More than 2000 entrepreneurs benefitted from these services in 2020 alone, cementing Dubai’s place as a global leader of innovation.
Following the economic downturn caused by the global pandemic, DTEC is making a massive impact on the start-up culture, fostering competition and building future opportunities for Dubai and the UAE.
Labor Law Reforms
In addition to the business-positive environment and the abundance of opportunities, the UAE authorities have rolled out a five-year comprehensive reform effort to help boost the economy and improve trade and travel to the region. This undertaking will cause drastic changes to existing labor laws, creating a more diverse and accepting marketplace for everyone. These decrees include:
• The prohibition of sexual harassment
Bullying of any type, including sexual, verbal, psychological, or physical, is strictly prohibited.
• The prohibition of discrimination
Under these reforms, discriminations based on race, sex, color, religion, national origin, and disability are explicitly banned.
• Equal pay for men and women
All employees shall be granted the same wages for filling the same position, regardless of whether they are men or women.
• Enhancing the ease of doing business
These reforms also work to allow employers to benefit from their work at the lowest operation cost via part-time and temporary work. It also gives employers the ability to retain workers for hire even after their work contracts have expired.
Why the Time is Right to Bring Your Business to Dubai
As we’ve mentioned, the DTEC, the Expo 2020 Dubai, and the UAEs renewed efforts to streamline business are all coming together in a perfect storm of business opportunities. If you’ve found yourself searching “business formation Dubai” more than once, you’ve come to the right place!
The UAE has made enormous strides in streamlining its company setup process. Applying for licenses, securing worker visas, and more are all at the touch of your fingertips. Whether you’re obtaining your business license for one of the many Free Zones, or forming an offshore company, there is a reason everyone trusts and uses the UAE.
But for those that don’t have the time to navigate the ins and outs of the UAE business world, many turn to the expertise of 3rd party business setup consultants like MSZ consultancy. These businesses can maximize profits while minimizing red tape. They’re also capable of offering innovative business setup ideas that make running a business a positive experience.
Forming a New Company? Connect with MSZ Consultancy Today
The Dubai Technology Entrepreneurship Campus is attracting start-ups and investors from all over the world. This institution offers high-speed infrastructure, lab spaces, access to events, workshops and networking, and much more. And by combining these cutting-edge tools with progressive business regulations and massive tourism numbers brought on by the Dubai Expo 2020.
And that’s where MSZ Consultancy comes in. We have years of experience assisting investors and businesses form their companies, handling important registrations and renewals, and more. For investors unfamiliar with UAE regulations and policies, having a team of dedicated experts can make all the difference. Our consultants can help you with Dubai company setup, handling visa applications, and even securing the assistance of PRO services. Whether you’re a single investor or part of an established corporation, we have the skills and experience to make conducting business easier. Give us a call today at +971 52 544 1248 and let our knowledgeable consultants supercharge your business.