SME World

Dubai Internet City (DIC), the leading technology business community in the region, inaugurated a specialised platform dedicated to the National Association of Software and Services Companies (NASSCOM), in the presence of Navdeep Singh Suri, Ambassador of India in the UAE, Debjani Ghosh, President of NASSCOM, Malek Al Malek, Group CEO of TECOM Group, Abdulla Belhoul, CEO of TECOM Group and Ammar Al Malik Managing Director of DIC and Dubai Outsource City (DOC).   

The Dubai Smart City Accelerator (DSCA), the first industry-focused accelerator award winning program of its kind in the MENA region, has issued an open call for applications from global startups dedicated to innovative smart city solutions to join its third cohort.

Latest figures by Bloomberg Intelligence revealed that the UAE has topped the list of countries in the Middle East with the highest number of financial technology (fintech) startups to date at 67. The UAE was followed by Turkey at 44 and Jordan and Lebanon at 30 each. Overall, the number of fintech startups in the region is forecasted to expand from 96 in 2019 to 465 by 2020, with a separate report, an Accenture analysis based on CBI Insights data, predicting that investments in the fintech sector will jump to USD 2.28 billion by 2022 from USD 287 million in 2019.

Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, hosted an event earlier today which provided entrepreneurs with legal and human resources advice, in addition to mentorship, networking and practical tips for finding the right co-founder for their businesses.

Several reports reveal that startups generate significant employment opportunities globally, helping drive immense economic growth prospects. 

Startup firms and other young companies provide around 50 percent of all new job prospects in the market with seed stage and those operating for two and a half years hiring an average of 12 workers.