What makes UAE a hub for Indian start-ups
A serial entrepreneur explores what makes the Middle East an attractive proposition for Indian start-ups. The UAE is a hub for expats and global businesses; located strategically this place provides immense business opportunities for people all over the world thus making it a hub for Indian start-ups also. Recently Dubai also hosted the first Indian Start-up Summit, where it gave tech start-ups an immense opportunity to interact with each other and gave both the ecosystems a tremendous mentoring for Indian start-ups for their growth. The Middle East nation is keen to elevate disruptive Indian fintech start-ups by providing them an international platform and financial support. Besides business opportunities for Indian start-ups, the leaders in the UAE are very keen to foster entrepreneurship with the recent summit for Indian start-ups a proof of that drive. There are various reasons for start-ups to disrupt the UAE market. Firstly, in Dubai the taxes are lower to set up a business and also to run a business, there are several positive factors with tax being one of them. The leases of residential properties are taxed at a flat rate of 5 per cent. Leases of commercial properties are taxed at a flat rate of 10 per cent. Though landlords are required to pay license fees, there is no capital gains taxation in Dubai thus making it a good market. Secondly, there is a lot of similarity between the demographics of the population, thus if you go from India to Dubai, you will not have to adjust to aspects like learning the language. There are a lot of Indians already residing there, which makes it a great place to reside and also the proximity to India provides an added advantage. Thirdly, to reach the next 6 billion users; that will make India the second-largest ecosystem in the world. It is also easier to do business with the UAE in terms of its laws. In the UAE, there is a diverse base of industries which means demand and supply is not a barrier. The region is also one of the smartest countries in the world in terms of internet penetration and infrastructure, making it ideal for connected start-ups. In terms of tech innovation, India is the third-largest ecosystem in the world while the UAE aims to be the global hub for technology in the future. If innovation meets its hub, then with the end-product a lot of customers can be benefited. Thus by doing business together we can get requisite hand-holding and mentoring to grow and prosper. We have been very impressed by the emerging opportunities in the UAE, such as the Abu Dhabi Global Market programme that promotes innovation in financial services. As a restaurant technology company doing business in the UAE, restaurants are breaking new grounds when it comes to using technology to deliver seamless customer service that has put them ahead of the competition. Convenience drives consumers to adapt new technologies. Being great in terms of internet penetration, Dubai has some tremendous opportunities for us. Food technology is undergoing a boom today and the future of the point-of-sale (POS) industry will see the market flooded with innovative and potential products. A major feature in the reports generated by the point-of-sale software is its report and analytics tool as the owners can now remember their customer by feeding their details. Customer data can be analysed and it can help the restaurants come up with customised deals for their customers. Thus we also have an advantage of providing services that are advanced and easy to manage. Besides, the Middle East nation is also keen to work with Indian start-ups because of their market-readiness and India's abundant technical talent. The governments of India and UAE are working towards fostering a healthy relationship between the two start-up ecosystems, to increase engagement, access to funds and build innovation.