In today's dynamic world, choosing the right location to set up your tech company is a crucial factor for success. The more accessible you are to the right market, the better your chances of having a successful business. The United Arab Emirates (UAE), with its thriving tech ecosystem, government support and strategic positioning, offers a compelling proposition for aspiring entrepreneurs. Additionally, the benefits of setting up a tech company in the UAE's free zones provide an attractive opportunity.
The UAE's tech sector is experiencing remarkable growth. According to Statista, the country is projected to reach a total capital raised of USD 1.1 billion in the venture capital market by 2024. This positive investor sentiment, reflected by increased interest, creates a dynamic environment where innovative tech companies can secure funding and thrive. The UAE’s strong investment landscape, coupled with the benefits of setting up a company in a free zone, serves as a launchpad for ambitious tech startups looking to accelerate their growth. Global investor support and a booming economy make the UAE an ideal location for tech company set-ups, especially given its young population and vibrant market opportunities.
The UAE government actively fosters a supportive environment for startups, particularly in the technology sector. It has introduced several programmes to empower tech startups. The UAE's 'National Programme to Transform Technology' targets the rapid technological advancement of industrial and production sectors. Objectives include fostering 1,000 tech projects by 2031, nurturing local talent and contributing AED 110 billion to the Net Domestic Product (NDP). Aligned with Operation 300bn, the strategy aims to boost local and global competitiveness, sustainability and digital transformation in the industrial sector. With 100% foreign ownership, free zones and this robust support framework, it will benefit entrepreneurs looking to set up their tech companies in the UAE.
The UAE boasts some of the most advanced technological infrastructure globally, making it an ideal location for tech company set-up. With leading electricity access rankings in the Middle East, as per the World Bank's Doing Business 2020 report, the country showcases its strong infrastructure. With average download speeds exceeding 180 Mbps, data transfer is seamless. Moreover, the UAE provides secure and reliable data storage, including state-of-the-art data centres, crucial for tech enterprises. Enhancing this infrastructure is the UAE's cutting-edge telecommunications network, ensuring seamless communication channels. This robust infrastructure forms a strong base for tech firms to operate effectively and connect with a global audience.
The UAE's geographical position offers a strategic advantage. Situated at the crossroads of Europe, Africa and Asia, the UAE provides easy access to a vast and diverse potential market. This allows tech companies to expand their reach quickly and efficiently, giving them access to a diverse customer base and thrive in the booming economy.
Building a successful tech company requires access to skilled professionals. With over 90% of the UAE’s population made up of expatriates, the country offers a wealth of skilled professionals. The country's booming economy, bolstered by a young and dynamic population, provides an ideal landscape for startups. Moreover, opting for a free zone set-up in the UAE unlocks a plethora of benefits, facilitating seamless business operations and growth opportunities. With its strategic location, robust infrastructure and business-friendly environment, the UAE is an ideal destination for tech startups. The government's progressive policies and investments in technology create a supportive ecosystem for innovation and growth.
Ras Al Khaimah Economic Zone (RAKEZ) offers customisable solutions to free and non-free zone businesses. We can help aspiring entrepreneurs like you navigate the set-up process to launch and grow a successful technology company in the UAE. We also offer spaces to help your business thrive, from coworking facilities to executive offices. Contact RAKEZ to set up your tech company in the UAE now. Reach us on: Phone: +971 7 2041111 Email: info@rakez.com
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