Incubators, an individual or an organization engaged in the business of fostering start-ups through their different developmental stages. It provides opportunities to set up and establish new business in the early-stages of many promising companies. Every start-up relentlessly works on new and innovative ideas with the aim of reaching great heights. However, these companies or entrepreneurs sometimes have little knowledge of the overall management and operations, which may stand as an obstacle in their business. In such cases, Incubators play a major role in assisting the startups to run the business at a local level making the foundation level robust and ensure proper utilization of money. Incubators help to scale the level of the start-ups gradually.
A new era of incubators has unfolded around the globe due to the heightened entrepreneurship, new technologies, corporate downsizing and economic globalization.
UAE’s Top Incubators
Incubators are an indispensable part of the entrepreneurial ecosystem in UAE. They have proved to be the best platform for new ideas to be spun into a prosperous business. Incubators in UAE act as learning hubs, promoting creative and technical minds, along with providing a well-established infrastructure and network to operate for the start-ups. There are many start-up incubators in the UAE whose support is crucial for the advancement of an early-stage company. In5 is an enabling platform for entrepreneurs and start-ups that provides innovation for tech, media and design growth. Astrolabs is a co-working space that spans business across the technology spectrum. Other established incubators such as Dubai Technology Entrepreneur Centre (DTEC), FinTech Hive and Turn8 provide tertiary services that facilitate business under their memberships. TechStars, Faster Capital and Silicon Oasis Founders are some of the top start-up incubators in Dubai. Incubators free up entrepreneurs to focus on fine-tuning their ideas and act as an economic development tool.
WHY SHOULD YOU CHOOSE INCUBATORS?
- Physical Facilities
Services provided by incubators include office space, administrative functions, mentorships, access to investors and capital
- Networking Facilities
To grow the business incubators, equip startups with networking facilities through various programs, events and better platforms to reach out to the potential customers.
- Support Facilities
After the early-stages of establishment the company stands on its own, incubators offer numerous support services such as assistance in building a team, expanding marketing plans, fund raising, professional services and many more to run the business smoothly.
In5 One of the Best Incubator
In5 supports innovative, effective and active start-ups and nurtures ideas and businesses to their next phase of growth. In5 performs a significant role in filling the resource void that start-ups confront. It enhances the entrepreneurial spirit and assists the potential business model to keep up with others in the industry. Following are the services provided by In5 to its startups:
- Business set up
In5 helps start-ups access physical location spaces, business hardware and software. Moreover, it also provides trade licenses and visas. In5 aims to provide an environment for exchanging ideas with a populace of established companies that all share overhead costs. In5 mostly promotes collaboration and pushes start-ups to enhance their ideas and discover how to articulate their agendas to consumers and potential investors. After the incubation period at in5 Innovation Centre, it also offers lease options for start-ups.
Start-ups need guidance on how to compete with established companies. So in5 uses its networks of skilled entrepreneurs, managers and retired executives who can provide management support and operational advice. They act as mentors and advisers to stimulate the start-ups in all sorts of issues and performances. To set up a brand name in5 offers marketing and PR assistance to start-ups. One can access experienced business consultants and management executives. A strong network of influential people provided by In5 helps in the growth proficiency of the company.
- Community Events and Workshops
In5 organizes a wide range of community and networking events to support building the next start-ups and nurture innovations and ideas in all aspects.
In5 helps nurture a start-up by cultivating strong ideas into a viable product. In5 brings credibility and helps companies get credit facilities from financial institutions. It helps the companies to create an effective pitch to impress venture capital and angel investors. It provides a good understanding of basic operations for start-ups and access to financial management through alliances with different financial partners.
Besides these accessibilities, in5 furthermore delivers 3 innovation centres named TECH, MEDIA and DESIGN innovation centers.
TECH Innovation Centre
It is home to hundreds of start-ups across UAE that have raised more than AED 465 million in investment supported by in5 incubation. It offers workplace, training and meeting rooms that are concentrated on activities such as seminars, training sessions and workshops. It provides a smart lab that accesses modern technology and devices to strengthen the quality of life through community-building training.
MEDIA Innovation Centre
It empowers start-ups and the media entrepreneurial community to accelerate development. The latest technologies provided by in5 helps start-ups seeking new ideas in Dubai’s competitive markets. In5 furthermore, open to all nationalities where like-minded start-ups get the opportunity to join forces on different projects using the facilities that include fully equipped production and recording studios, screening rooms and editing suites.
DESIGN Innovation Centre
In5 is home to one it’s kind prototyping lab where equipment such as 3D printers, electronics and modern machinery for designing works are accessible. It also delivers the latest skill set for startups in the field of design.
Top Incubated Startups in UAE
UAE startups are robust and creative that contribute to the country’s thriving, well-developed infrastructure and growing start-up ecosystem. Many startups came to the limelight with the help of business incubators. Top start-ups such as Bridg, a smartphone payment system nurtured by Turn8 incubator reached the height in the UAE market. Other top start-ups like Careem; a travel startup that works on an online-based vehicle booking, Quiqup; delivery facilities for retailers and restaurants that deal with high levels of demand, The Luxury Closet; designer clothes without the designer price, Almentor; e-learning and educational start-up stood out as the best start-ups in UAE under the umbrella of incubators. Many startups in Dubai such as Yallacompare, Reserveout, Plantshop.ae and Okadoc also made their thriving growth in the UAE market with great business ideas and also thanks to incubators.
Incubators contribution to the Economic Development
Incubators establish long-lasting jobs for start-up communities by helping and assisting them. As the start-ups evolve, they create job opportunities for the newbies, mid-career personnel as well as veterans. This opportunity drives profitability in the community and leads to economic development.
HUMD, an Incubated Company
HUMD is a printing marketplace incubated by In5, that supports SMEs and allows e-commerce expertise and technology from the printing products for boosting the print industry. It targets small, medium, online and offline companies with locally sourced printing products to furnish an opportunity for start-ups. In5 has provided guidance and mentorship to HUMD right from its inception days, to keep up with the expectations of Dubai market. It has helped HUMD have a rather easy start in UAE through their team of experienced legal, PR and startup advisors. In5 continues to provide networking opportunities and access to various events held across the UAE. It is enabling HUMD to establish connections to all the resources and big organizations.
Overall, this collaboration has provided HUMD with creative space, specialized industry center, training and mentorship programs. In5 nurtured the ideas of HUMD and is continuing to do so. In5 delivered an incubation platform for HUMD to understand the UAE marketing policy and facilitated a tranquil journey into the UAE market.
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