Overseen by Dubai Future Foundation, Area 2071 is a unique ecosystem that nurtures global talents to start and grow their business in the UAE. Members of Area 2071 have access to a network of strategic partners, entrepreneurs and investors.
Area 2071 offers subsidised licensing fees to all startups and entrepreneurs. The fees amount to AED 1,000 annually for a commercial licence allowing the entrepreneur to conduct three activities within the same segment.
Registered businessowners will have a 3-year business licence with for operation within Area 2071 and Dubai Development Authority (DDA), known before as Dubai Creative Clusters Authority (DCCA).
To register in Area 2071, companies must have an initial approval from Dubai Future Foundation Program.
Learn more how to start your business in Area 2071.
Area 2071 incubates entrepreneurs who own an established business with a minimum capital of AED 500,000 in a field approved by Ministry of Economy. Such entrepreneurs have an opportunity to acquire a 5-years visa, with the possibility to qualify for permanent residency visa if the same original conditions of the investor are met. Learn how to apply for UAE long-term visa through Area 2071.
Hub71, a business incubator
The Abu Dhabi government established Hub71 to support technology startups in the emirate by attracting top venture capital funds and investors to increase the pool of capital available for startups and venture capitals in Abu Dhabi.
Hub71 collaborates with major business stakeholders such as Abu Dhabi Global Market (ADGM), Mubadala Investment Company and other key business players to foster the next generation of tech innovators and startups.
Hub71 offers incentive monetary programmes with 100 per cent and 50 per cent subsidies for early and emergent stages of startups.
To be considered for the incentive programme, companies should:
- be sure to generate high growth
- target a large user base
- provide transformative technologies
- have secured VC funding in the last three years
- set up a meaningful presence at Hub71.
Hub71 initiative is part of Ghadan 21, a AED 50 billion investment stimulus fund launched by H. H. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Fazaa Center for Business Incubators and Accelerators
In July 2020, the UAE launched the Fazaa Center for Business Incubators and Accelerators to provide logistical support, training, qualification, studies and consultancies to Emirati entrepreneurs. The centre enables them to establish their projects through their services that help them to overcome the challenges of managing, financing and marketing entrepreneurial business ventures.
Read news coverage on WAM.
Updated on 04 Aug 2020