The best place to start: an overview of business incubators in the UAE
The first step in starting a business can be the hardest. Where do you start? How do you find a team? How do you get funding? These are all questions that every aspiring entrepreneur has to face. But there's a great tool out there to help you solve these problems – a business incubator.
A business incubator is like a support system for new businesses. It gives them the resources they need to grow and succeed. It creates a safe environment where young companies can learn and grow without all the stress and hassle of starting from scratch.
Business incubators best for:
Support from the ground up: business incubators are designed to help startups that aren't ready to go it alone. They provide the resources, guidance, and other support needed to get a business off the ground. If you've just got an idea for a business, a business incubator might be the place for you.
Reduce risk: business incubator can help reduce the risks associated with starting a new business. They connect you with other entrepreneurs and experts. It gives you access to their experiences and knowledge, which can help you increase your chances of future success.
Boost your growth: business incubators have programs that can help startups achieve their goals quickly. This applies to everything, from creating and developing products to finding customers and getting investment.
Networking: Startup owners meet other entrepreneurs, investors, mentors, and partners.
Incubators are all about helping startups get off the ground. They often do not take a cut of the profits that startups make after entering the market. Usually, they are social projects funded by public institutions and the government, so they don't make money themselves. Instead, they help attract investors and help startups get off the ground. Also, there are commercial incubators out there, so be sure to read the details and terms of each program carefully.
Main advantages of incubators:
Funding access: business incubators help their members get investments and grants.
Mentorship: skilled entrepreneurs and industry experts help new businesses get off the ground, guiding and helping them avoid common mistakes.
Space for business: incubators often give their residents office space at a reduced rate.
Training and development: incubators offer hands-on training and workshops to help entrepreneurs improve their skills.
Incubators are great for budding entrepreneurs who just have an idea for their business. If you already have a solid business plan and a working prototype (MVP), startup accelerators may be more for you. They focus on helping existing companies grow.
So, if you're starting from scratch and don't know where to find support - it's here. This list will give you an idea of the popular startup incubators in the UAE and help you choose the right one for you.
Updated 09.08.24
In5
Location: Dubai
Working for: Budding entrepreneurs with just an idea
In5 is an all-in-one ecosystem for entrepreneurs and start uppers. It provides a bunch of support, like specialized workspaces, industry-specific resources, training, mentoring, networking opportunities, and connections to investors, to help businesses grow and thrive.
500+ startups, 100+ mentors and investors, and AED 3 billion in funding raised. In5 is great for tech, media, design, and science startups.
The Mohammed bin Rashid Innovation Fund is an initiative from the Ministry of Finance, started by His Highness, Sheikh Mohammed bin Rashid Al Maktoum. He's the Vice President and Prime Minister of the UAE, and the ruler of Dubai. The fund's goal is to support innovators and help them create a positive impact in the UAE's transition to a more knowledge-based economy. This will lead to prosperity and sustainability for the country.
Working closely with like-minded partners, MBRIF created two programs to meet each innovator's unique needs.
MBZUAI Incubation and Entrepreneurship Center (MIEC)
Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) Incubation and Entrepreneurship Center (MIEC) designed to help speed up the adoption of AI in businesses by making it easier to get from idea to startup. You can get up to AED 200k in equity-free funding for your AI startup idea, proof of concept (POC), and growth stage.
Area 2071 is a massive innovation ecosystem that combines the functions of a business incubator and technology park. It not only provides physical space and guidance, but also focuses on strategic partnerships between government, private industry and talent from around the world.
If you're a startup, freelancer or innovator, get access to discounted services and international markets through our Country in Residence program, startup competitions, community events and networking opportunities.
Area 2071 offers discounted licensing fees for all startups and entrepreneurs. It's only AED 1,000 per year for a commercial license that allows you to do three activities in the same area.
Hub71 is a business incubation hub and a global tech ecosystem. It connects innovators, investors, corporate executives, and forward-thinking government agencies. The Abu Dhabi government set up Hub71 to help tech startups in the emirate by attracting top venture capital firms and investors, so there's more capital available for startups and VC funds in Abu Dhabi.
The Hub71 initiative is part of Ghadan 21, an AED 50 billion investment fund launched by Sheikh Mohammed bin Zayed, President of the United Arab Emirates.
They have everything a tech startup needs to grow and thrive, from funding and mentoring to office space and access to a global network.
Goodforcelabs is a startup hub that helps businesses grow and make a positive impact on society. They're based in Dubai and wanted us to help them with their brand identity, which would reflect their goal of creating an ethical global economy.
Goodforcelabs works for agricultural, food, education and financial startups.
Bedayat is a Dubai-based business incubator and accelerator for innovative startups that focus on social, environmental, and economic sustainability. They offer training sessions and chances to meet with business professionals, while also giving aspiring entrepreneurs access to resources to conduct research and test their products and services before launching them to the market.
InnCuVation Spaces
Location: Dubai
Working for: Budding entrepreneurs with just an idea
InnCuVation Spaces It's a high-tech, innovative incubator that helps students and professors start their businesses. It placed on the The Higher College of Technology-Dubai Men’s Campus.
InnCuVation Spaces help out startup teams with everything they need to get going, from mentorship to 3D printing of prototypes, to setting up a dedicated workspace, building a website, and even helping them get a trade license from the Dubai SME (Small and Medium Enterprises) and Abu Dhabi Department of Economic Development (DED).
Concept Plus
Location: Dubai
Working for: Budding entrepreneurs with just an idea
Concept+ is a startup incubator that provides a whole range of support for new businesses to help them launch and grow successfully. They supports startups in tackling global challenges by offering customized programs for every step of the entrepreneurial process, access to financing, and connections with network partners. Concept+ can provide up to AED 500K in funding.
Ztartup.com is the UAE's first private sector "Multi-Sector Tech Business Incubator". It focuses on technology, trade, services, films, music, art, and sports. Their programs are great for startups that want to operate in Dubai or the UAE, or that are looking to expand into the GCC (Gulf Cooperation Council) and MENA (Middle East and North Africa) markets.