Scality – A pay as you grow model for tech startups in the UAE
MENA based startups saw $1BN+ invested over the course of 2020, which was a transformative year for the technology sector, with digital adoption accelerating at unprecedented rates and transacting online becoming the only way to acquire goods and services.
In 2020, the UAE saw a total of 129 startup deals take place, which amounted to $579M in funding for the country. Despite this momentum, there is still potential to provide a simpler business setup process for startups in the UAE.
The Dubai Airport Freezone Authority (DAFZA) officially launched an innovative startup program called “Scality”, solving a core problem faced by startups, of requiring high initial capital to setup and scale their business.
As a flexible and easy-to-use launchpad, Scality enables you to form your company and scale in a seamless, flexible, lean, and agile manner, via its competitive pay-as-you-grow model.
Startups can now pay per-employee-per-month, enabling them to optimize capital allocation moving away from a real estate focused model to business setup. Setting up in the UAE is now as easy as signing up to music streaming platform Anghami, with no minimum commitment thereby de risking the journey into entrepreneurship
Scality’s subscription-based program covers lease and licensing fees (during setup and the lifecycle of company operation), ability to scale a team flexibly, a modern workspace with like-minded individuals and a suite of partnerships enabling startups to grow and scale their business These include partners across tax, legal, talent, cloud solutions, banking partners, payment providers, digital marketing amongst others.
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Through this program, Scality is focused on supporting tech entrepreneurs building digital products & solutions across different industries, that cater to the MENA region. Entrepreneurs are required to either have an idea, MVP or product, to be part of Scality.
Scality is backed by DAFZA, one of the fastest growing free zones in the region. DAFZA’s network of 1,800 companies consisting of some of the top fortune 500 companies create an array of opportunities for synergies between startups building innovative products that corporates are eager to adopt.
“Scality is a membership program specifically built for the tech startup and entrepreneur, providing you with everything you need to setup and grow your business through a simple, flexible membership fee structure per employee per month. With the onset of Covid-19, you need to focus on growing your business flexibly and Scality is here to enable it.
Not only do we focus on your bottom-line cost-efficient approach, Scality also provides you with access to a wide network of potential buyers and suppliers, to build and grow your topline.” Said Hassan Waheed, Chairman of Scality.
Scality aims to be a partner in growth from inception to scale and is committed to solving the key problems entrepreneurs face in the MENA region, thereby enabling ease of access to a significant population in an emerging market.
Lee Mc Mahon, Co-founder of Clara technologies said “Scality is an innovative, flexible and much needed solution to help startups set up their business effortlessly in the UAE. With Covid-19, it has become more important to offer startups an ability to scale in a cost-effective pay-as-you go style arrangement, with transparency and ease of process. Scality focuses on achieving that as a core value proposition.”
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