29 October 2018, Abu Dhabi, UAE: Abu Dhabi Global Market (ADGM), the leading international financial centre of Abu Dhabi announced the launch of the Entrepreneurship Support Programme on October 29, 2018. The programme, in collaboration with leading local and international advisors, provides ADGM registered entrepreneurs and start-ups with an array of business services designed to develop and enhance entrepreneurship and start-up businesses.
Since opening its doors in late 2015, ADGM has continually established initiatives to provide an ideal environment and ecosystem for entrepreneurs. Its common law jurisdiction and business-friendly legislations provides founders and financiers with clarity, confidence and flexibility to set up and operate businesses, structure investments and safeguard key assets in the most optimal ways. The extensive and growing ecosystem gives entrepreneurs access to a broad range of financial and professional services, including opportunities to collaborate with experts, accelerators and funds. The Entrepreneurship Support Programme compliments the recently launched Tech Start Up license that offers technology driven start-ups the opportunity to set up in ADGM at a highly competitive cost.
ADGM has bolstered its commitment to supporting the region’s fast-growing start-up sector with the Entrepreneurship Support Programme by partnering with an initial seven industry-leading professional service providers to create a unique portfolio of offerings to mentor, support and enhance growth for start-ups. This first of its kind programme includes Al Tamimi & Company, Disruptive Legal, KPMG, Rethink Me LTD, Squire Patton Boggs, Support Legal and E11 Advisory.
As part of the Entrepreneurship Support Programme, ADGM will provide a variety of seminars, networking sessions, mentorship clinics, and workshops for entrepreneurs and start-ups on topics relating to business set-up, growth, financial planning, legal and compliance. ADGM will also conduct workshops ranging from corporate structuring, venture capital fundraising, IP protection strategies, international expansion models to preparing for a due diligence exercise.
To address the specific business requirements of each start-up, the programme will also host one-on-one professional services and mentorship sessions to businesses. Legal professional services will cover assurance and advisory services as well as speciality advisory centred around intellectual property in accordance with R&D, innovation and patent services terms of business. Financial services will comprise of accounting, compliance, risk management and VAT services.
Dhaher Bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority commented, “The continued growth of Abu Dhabi’s start-up sector in the past few years can be attributed to trailblazing initiatives such as this. The programme is bringing together leading private-sector organizations in support of entrepreneurial development and regional expansion. Tech start-ups will now receive world-class support services from industry leaders at minimal or zero cost that will grow and develop. The programme illustrates the uniqueness of ADGM’s entrepreneurship ecosystem and start-up platform all underpinned by a common law framework.
ADGM continues to seek new partnerships to boost its programmes and offerings. There are currently over 100 professional services providers based at ADGM and they are all eager to support Abu Dhabi’s transformation towards innovation and economic diversification”.
In line with Abu Dhabi’s Economic Vision 2030 to integrate government agencies and private entities, the Entrepreneurship Support Programme alongside the UAE’s several prominent incubator and accelerator programmes exemplify the nation’s strategic objective to encourage start-ups and support business ideas. ADGM is continuously enhancing its start-up platform through trailblazing initiatives and strategic partnerships to enhance regional productivity and competitiveness with the aim of strengthening its position as a global economic hub.