Bright idea. Create an innovative concept. Major hurdle. Sudden inspiration. First client. Investors confirm. Brand awareness. Regional crisis. Change in the team. Future growth.
Any successful entrepreneur can easily relate to the above.
But it is also the path that the UAE – and Dubai in particular – took, when it embarked on its ambition to become a startup hub – not just for this region, but for the world – a feat rather herculean considering its size. And yet here we are, with the country ranked first in the Middle East and fourth worldwide on the Global Entrepreneurship Index (GEI) 2020, ahead of the US, the UK and China. The country has attracted several successful founders and startups, including Souq.com (sold to Amazon), Careem (acquired by Uber), Swvl (first $1.5bn unicorn from the Middle East which is set to list on Nasdaq New York) and Anghami (first Arab tech startup to list on Nasdaq New York), among others. The country has also birthed innovative and disruptive startups such as on-demand refueller Cafu, cloud kitchen Kitopi – which raised $415m funding in the past year – and agritech business Pure Harvest, which also garnered $110m in the last year.
As a pioneer in the UAE’s business setup landscape, Virtuzone has seen the evolution of Dubai as a startup hub – how it has successfully navigated the various stages of growth – and how it is powering ahead towards the future. Set up in 2009, Virtuzone has helped more than 60,000 entrepreneurs from 180 countries set up their businesses in the UAE, and almost 90 per cent of them renew their trade licence with the company every year. Virtuzone is also seeing strong growth this year, especially in sectors such as e-commerce and fintech.
This story is from the September 2021 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2021 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Green lights
It hasn’t even been a full year that Stellantis, one of the world’s biggest auto companies, has been in existence. Still, its wheels are spinning furiously. Here’s what it has in store for the region
Purpose through corporate responsibility
Every organisation must deeply reflect about whether they are leaving behind a legacy or a liability, says Abdulaziz AlSowailim, EY MENA chairman and CEO
Analysing the layers of a coconut
When we have a sense of clarity as to our purpose in life, then we institute the correct practices and habits around us, and set realistic and achievable results
DUNES TO DOMINION
FOR A COUNTRY RICH IN TRADITION AND DRIVEN BY AMBITION, THE UAE’S JOURNEY DURING THE PAST 50 YEARS HAS BEEN UNPRECEDENTED. WHAT’S IN STORE FOR THE NEXT 50?
Building strong
International investors are boosting Dubai’s residential property market, which has rebounded strongly from the Covid crisis, writes Aarti Nagraj
CHASING THE AMERCIAN DREAM
FOR SHAI ZAMANIAN, THE US IS A LAND OF LIMITLESS POSSIBILITIES, AN AVENUE HE AIMS TO OPEN FOR FAMILIES WORLDWIDE VIA IMMIGRATION. HERE’S HOW HE IS BRINGING HIS GOAL TO FRUITION
OBITUARY: JOCELYN HENDERSON (1921-2021)
THE GRANDE DAME OF ABU DHABI – THE WIFE OF A FORMER DIPLOMAT – PASSED AWAY IN THE UAE CAPITAL AGED 100
THE DIGITAL DISRUPTORS
IN THE COMING YEARS, THE GCC IS EXPECTED TO PLAY A SIGNIFICANT ROLE IN SECTORS SUCH AS HEALTHCARE, MANUFACTURING, EDUCATION AND RETAIL, WHICH WILL HELP BOOST THE GROWTH OF ITS NON-OIL ECONOMY
Signed, sealed, delivered
Nicolas Baretzki, CEO of Montblanc, partnered with one of the world’s most recognisable luxury brands, Ferrari, earlier this year. Here’s where the partnership, and the German company as well, is headed next
UP, UP AND AWAY
AS THE FIRST IN-PERSON AIRSHOW TO TAKE PLACE SINCE THE OUTBREAK OF THE PANDEMIC, THE EVENT SAW SEVERAL DEALS ANNOUNCED
