Across the Middle East, governments have increasingly seen the importance of a vibrant startup ecosystem, and have put measures and incentives in place in order to become the preferred haven for budding entrepreneurs, existing startups and venture capital firms alike. Bahrain, for example, has attracted foreign accelerator programs like Brinc and Flat6Labs to set up in the country, to complement the launch of its own FinTech Bay and regulatory sandbox. Moreover, in Saudi Arabia there have been many government initiatives to become the preferred destination of startups, such as the relaxation of laws and the launch of accelerator and incubators like Badir and 500 Startups-MiSK.
However, Dubai is working hard to create the best ecosystem for startups in the region. The city has many advantages: a large market for both B2B and B2C startups, many venture capital firms have their headquarters here, as well as many corporations that have set up in the commercial capital of the UAE in order to serve the entire Middle East. Moreover, several initiatives, like the FinTech Hive, Dubai Future Accelerators and Area 2071, to name a few, have seen Dubai become the preferred destination for startups in the Middle East, due to the favourable regulatory and commercial environment.
Learn more about Dubai’s startup ecosystem, and how the government works to create the best ecosystem for startups, here.