When Dubai Startup Hub started its journey back in 2016, its initial goal was to support as many startups as possible to set their businesses up and running. Three years later, there is not even a hint of a doubt about its success in doing so.
Till date, more than 3,000 startups have joined the hub, with a total of 7,000 startups benefitting from the programs, services and initiatives offered by it. Hamad Buamim, the President and CEO of the Dubai Chamber of Commerce and Industry, confirmed this in an interview with Arabian Business.
“What’s more interesting is the growth and interest we have seen among our international members,” Buamim said.
“In 2018, several of our international members specializing in artificial intelligence and fintech solutions launched business ventures here in Dubai, and these start-ups came from different markets, including Portugal, Azerbaijan, Lebanon and others.”
Though Dubai Startup Hub kicked off as an online interaction portal that offered information and resources, now it has turned into a full-fledged startup backer with training, mentorship and development programs.
Buamim has confirmed that the number of applications on various programs and competitions arranged by Dubai Startup Hub is increasing every year. He addressed it as an, “encouraging sign reflecting the strong appetite for entrepreneurship in this part of the world.”
Buamim also had the numbers to show on his side. For example, the Dubai Smartpreneur competition received more than 1,600 submissions over its last four cycles.
“The UAE accounted for a majority of business ideas submitted to the competition, followed by India, Saudi Arabia and Egypt,” he added.
Buamim promised that Dubai Startup Hub will continue to prioritize on education, youth engagement and skill building.
Over 400 entrepreneurs and students attended the hub’s training sessions and workshops last year. It also featured a four day long pitching bootcamp for promising Emirati entrepreneurs. 31 percent of the startups succeeded in registering their businesses.