When it comes to startups, a general perception is that it needs to be in a developed country where all the resources are available. In truth, that misses the point: startups can begin anywhere, and it's often the countries with the greatest needs that present the biggest opportunities. Startups are at home in underdeveloped countries, nations in conflict, and those countries new to entrepreneurship. Each of these environments offer untapped problems which startups can take advantage of not just to make a profit, but also to make an impact.
Role of Startups in Economic Prosperity:
Startups may be small companies but they can play a significant role in economic growth.
Environment suited for start-ups:
Various schemes launched in UAE to encourage Start-ups:
As the emerging entrepreneurial capital of the MENA region, the U.A.E. has both given rise to a large number of local startups and attracted numerous regional startups seeking to scale their operations. Several of these startups have become huge regional success stories, perhaps above all e-commerce giant Souq.com.
Souq.com and others in capitalizing on the regions’ large and growing e-commerce market. Meanwhile, other startups are seeking to harness the power of new technology in different ways to introduce innovative products and services for the region’s growing number of tech-savvy youth. The following makes UAE as an ideal place for entrepreneurship:
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