New report released on “The Entrepreneurial Emirates”
InvestUAE, a joint collaboration between the Trade and Commercial Office at the UAE Embassy in Washington, D.C. and the US-UAE Business Council, have produced their first report titled “The Entrepreneurial Emirates: The UAE’s Startup Ecosystem and Opportunities for US Investors”, promoting UAE as the regional hub for start-ups and providing resources for investors.
A magnet for regional entrepreneurs seeking to start or scale businesses, the UAE has always been known for its ease of business and open door policies. This is particularly true for businesses in the e-commerce sector, where the country has given rise to blockbuster successes such as Souq.com, which was recently acquired by e-commerce giant Amazon.
InvestUAE’s new report highlights sector specific opportunities in the UAE, successful examples as well as resources for those exploring building or expanding their start-ups in the UAE and investors with lists of funds and up-to-date prospects.
UAE provides a business-friendly environment with low taxes, favourable regulations, strong government backing of SMEs as well as numerous co-working spaces, incubators, accelerators, training programs, and networking opportunities to get new businesses off the ground.
According to Saud Al Nowais, Trade and Commercial Counselor in Washington, D.C., “enterprising US investors looking to explore the UAE will find numerous start-ups that are set up to succeed by strong underlying economic currents and a supportive ecosystem with a demand for venture capital and attractive valuations for promising ventures and access intriguing opportunities in the wider Middle East Africa South Asia (MEASA) region”.
During a recent launch of InvestUAE’s report, US-UAE Business Council President Danny Sebright noted, “These opportunities are only increasing as attitudes and philosophies toward venture capital rapidly shift for the better and as legal and business reforms accelerate in the UAE and the wider Gulf region.”