Business in Dubai Initiative: Increasing Business Formation Rates
Advancing the Establishment and Growth of Tech Companies in Dubai
Project Overview
To support the expansion and growth of tech companies in the United Arab Emirates (UAE), the Dubai Chamber of Digital Economy launched the Business in Dubai initiative, attracting both international and local businesses.
The Business in Dubai initiative connects businesses with relevant organizations to support their growth and matches them with local clients and investors.
Think Media Labs collaborated with the Dubai Chamber of Digital Economy to facilitate the implementation. Through proper planning, implementation, and expert sourcing, the program has helped numerous businesses achieve their growth objectives in Dubai. The initiative aligns with national KPIs, further emphasizing its strategic importance.
The Impact
Streamlined the entry of international businesses into Dubai and fostered local business growth, contributing to increased business formation rates.
Key Strategic Activities
The Business in Dubai initiative created enhanced business opportunities for participating companies. It facilitated the market entry of international businesses into Dubai. The program’s strategic activities helped businesses secure clients and funding, developing their growth and expansion in Dubai. It also empowered local businesses to grow.
The core of the Business in Dubai initiative was its qualification and matching process. Businesses interested in the program underwent a thorough application process, where they were evaluated based on predefined criteria. This evaluation included an assessment of their growth potential, alignment with Dubai’s economic goals, and specific business needs. Once qualified, businesses were matched with suitable partners to ensure they received personalized support made to their unique requirements.
DCDE highlighted the importance of effective partner matching to facilitate business growth. It connected businesses with the right partners and provided full assistance and introductions. The partners offered services such as investment facilitation, logistical support, and networking opportunities. Think Media Labs played an important role in this process, conducting personalized business assessments and creating detailed summaries to ensure accurate and effective matchmaking.
Detailed KPI-focused dashboards were built to track the progress of each business and regular reports were to ensure transparency and accountability. This data-driven approach enabled DCDE to make decisions and adjust strategies as needed to meet the program’s objectives. The initiative’s success was further enhanced by the corporate services provided to participating businesses, ensuring they had the necessary resources.
Conclusion
The "Business in Dubai" initiative demonstrates the UAE's dedication to enhancing government efficiency and innovation through public-private partnerships. The initiative has significantly advanced Dubai's position as a global tech hub.
The program successfully met the objectives set by the Dubai Chamber of Commerce, improving the efficiency of the business groups in their respective sectors.