DUBAI: Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, recently hosted its end-of-year roundtable where stakeholders from Dubai’s entrepreneurship ecosystem discussed plans and new initiatives to support the growth of startups in 2021.
The virtual event, entitled Entrepreneurship in Dubai: The Big Picture, was joined by representatives from DIFC Fintech Hive,In5, Dtec, Expo Live (Expo 2020 Dubai), Dubai SME, Step Conference, BNC Publishing, C3, Letswork and The Co-Dubai.
During a brainstorming session, participants expressed their interest and readiness in aligning efforts with the aim of maximising the benefits to the startup community and identifying new business and investment opportunities. International roadshows, exhibitions and conferences (virtual and live events) were identified as the most effective platforms for attracting global startups to Dubai.
Participants highlighted the far-reaching benefits offered to startups and SMEs through stimulus packages and other business-friendly measures introduced by the Dubai and UAE governments, adding that such efforts have had a positive impact on the local entrepreneurial ecosystem. Several positive trends among incubators and accelerators were observed this year in Dubai, participants noted, including the ability of startups to secure additional funding and remain resilient in the face of new challenges.
Attendees learned about the main services and benefits available to members of Dubai Startup Hub, the role of Dubai Chamber’s representative offices around the world and other Dubai Chamber-related events and activities, which both startups and entrepreneurship ecosystem enablers can benefit from.In addition, Dubai Startup Hub and Dtec shared key learnings from the programs they delivered jointly this year, which were designed to provide tailored support to aspiring entrepreneurs, as well as growth opportunities.
Addressing participants, Atiq Juma Nasib, Senior Vice President of Commercial Services at Dubai Chamber, highlighted Dubai Startup Hub’s main achievements for 2020, including successful collaborations with entrepreneurship ecosystem partners during the year that enabledit to serve a wider network of startups and entrepreneurs through various programmes, initiatives and events.
Over 2,100 entrepreneurs benefited from Dubai Startup Hub’s various programmes and 48 virtual events in 2020, he revealed, while new programmes, initiatives, events and activities were organised under the platform to meet the evolving needs of startups in Dubai that responded to new challenges and opportunities created by Covid-19.
Dubai Chamber observed a steady increase in inquiries from international startups interested in entering the Dubai market in 2020, he noted, reflecting the emirate’s strong appeal as a global innovation hub. Going forward,startups and SMEs are expected to play a much bigger role in supporting Dubai’s transition to a digitally-driven economy in the post-Covid era, given their valuable expertise in advanced technologies and cutting-edge solutions they are bringing to the market, he added.
Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region. The initiative aims to provide clarity and guidance for entrepreneurs throughout their journey, while it also leverages public-private sector partnerships to promote innovation and develop Dubai’s entrepreneurial ecosystem.
