Take advantage of Dubai’s tech innovation and launch your tech startup in Dubai. The city is known for modern infrastructure, tourist attractions, and a flourishing tech startup market with many innovative products and services. There has been a significant increase in tech startups in the UAE, especially in Artificial Intelligence (AI), Fintech, e-commerce, and Virtual Reality (VR).
The UAE is positioned to become the international hub of IT, which is why it offers many incentives and benefits for tech startups. Due to the government’s continuous support for tech innovations, Dubai has become one of the best places for investment in the tech industry. Let us look at the top innovative startups in Dubai.
Top Tech Startup in Dubai
Here are the top startups in Dubai,
Huspy – Tech Startup in Dubai
Huspy is a Dubai-based startup founded in 2020. It provides real estate solutions to foreigners in the region. The fintech company helps customers get loans at a reasonable price to buy the homes they want. The mortgage problem can be challenging for foreigners. Huspy allows them to get homeownership without any paperwork to resolve this issue. Through this app, people can buy, sell, and lease properties.
Huspy not only helps foreigners but also local UAE residents can benefit from it. The app lets the users easily access major banks of UAE and their offers without any additional charges. The process of getting a loan becomes straightforward as the users can easily check their application immediately. The key points about Huspy are given below.
Time of establishment. 2020
Industry. Fintech
Funding Amount. $47 million
Applications. Mortgage
Goal. To bring peer-to-peer (P2P) payments to the UAE.
Bayzat – Tech Startup in Dubai
Bayzat is one of the top tech startups in UAE, having started in 2011. It is an IT-based HR and insurance-related company operating in different sectors, such as Human Resources, Insurance, and employee benefits. With the help of its cloud-based software, the platform allows companies to automate payrolls and other insurance-related procedures.
Over a thousand companies trust Bayzat. It is a Human Resources Management System company that helps run a company, not just the human resources team. About 250 employees actively take part in running the company.
Time of establishment. 2011
Industry. Human Resources Services
Funding Amount. $60 million
Applications. HR, Payroll, insurance software
Goal. To help companies improve employee relations and streamline HR processes
Fenix Games – Tech Startup in Dubai
Fenix Games is a UAE-based startup that presents an innovative approach to web 3.0 gaming in Dubai. It invites the players in the games to be shareholders, which has revolutionized gamers’ relationships. The company includes multiple game developers and Wall Street veterans.
Fenix Games also stands out because of its focus on Blockchain technology. The company will also build video games within the Net 2.0 environment. Since its launch, the company has raised $150 million to assist its operations.
Time of establishment. 2022
Industry. Gaming
Funding Amount. $150 million
Applications. Games production
Goal. To revolutionize the relationship of players with games
Flare Network
Flare Network was founded in 2019 and is based in Dubai. It is invested in the blockchain market and provides innovative improvements by developing layer one blockchain. With the help of this technology, blockchain apps with the help of the internet and other chains.
With Flare, teams can connect the currently established new solutions with the data of other blockchains. This helps them expand their project’s reach, which increases their expected profit. Flare provides different services such as Web Two connectivity, Bridging, State Acquisition, Decentralized Data Feed, and Scalable Smart Contract.
Time of establishment. 2019
Industry. Blockchain
Funding Amount. $8 million
Applications. Interoperability Protocol
Goals. Increase blockchains connectivity
Ziina
Ziina was founded in 2020 and is a UAE-based startup. It is the UAE’s first peer-to-peer (P2P) payment software, making digital payments faster and easier. With the help of Ziina, its users can pay with debit, credit, google and Apple Pay and accept and send payment requests.
The startup operates inside the fintech market and has designed a P2P fee solution for the USA. From the beginning, the company has made many investments, which has helped its development.
Time of establishment. 2020
Industry. Fintech
Funding Amount. $8 million
Applications. No-code development, UX Design
Goals. Bringing P2P payments to UAE
GrubTech
GrubTech is a top tech startup in Dubai offering management solutions to hybrid and virtual restaurants. It offers software and payment methods that help improve the operations of cloud kitchen companies. Their platform provides food aggregators, POS systems, and other integral systems to help with the smooth delivery of online orders.
Time of establishment. 2019
Industry. Cloud Kitchen
Funding Amount. $36.9 million
Goals. To provide food businesses with technological solutions.
Souq
Souq is one of the most famous e-commerce websites in the Middle East. The company was established in 2005 in Dubai, United Arab Emirates. It operates its own e-commerce business and provides a marketplace for third-party sellers in the Middle East and North African region.
Amazon.com acquired Souq.com for $580 million in March 2017. It has branch offices in Dubai, Saudi Arabia, Jordan, Kuwait, and India.
Time of establishment. 2005
Industry. Retail and online marketplace
Funding Amount. $425 million
Goals. Empowering small and medium enterprises (SMEs) to sell online easily
Dataiku
Dataiku is a tech company building software and was founded in 2013. It is a platform for systemizing the use of data for extraordinary business performance and Everyday AI. With the help of Dataiku, more than 500 companies worldwide are systemizing their use of data, AI and analytics. It helps with fraud detection, customer satisfaction, maintenance to optimize the supply chain and more.
Time of establishment. 2013
Industry. Everyday AI
Funding Amount. $1.04 billion
Goals. To enable organizations to master the use of AI to drive growth.
Ripple
Founded in 2012, Ripple is the leading provider of cryptocurrency solutions for companies. It is powered by blockchain technology which helps companies to send cross-border payments in real-time, engage with digital assets and tokenization. Ripple is an all-in-one platform to securely store and manage digital assets that power payments, management of financial assets and more.
Time of establishment. 2012
Industry. Financial technology industry
Funding Amount. $393.91 million
Goals. To provide a network that allows fast and easy transactions.
Shield AI
Shield Al is a leader in AI for aviation that provides the best AI and autonomy technology to the Department of Defence of the USA and its allies to protect their civilians and service members. With the help of AI and autonomy, it develops and deploys the best AI pilots in the world.
Time of establishment. 2015
Industry. Defence technology
Funding Amount. $500 million
Goals. To build AI systems to protect its service members and civilians.
How to Start a Tech Startup in Dubai?
The first step in starting a startup in Dubai is selecting the right location, i.e,
- Start your company in the UAE mainland
- Start your company in UAE free zones
Methods to Apply
There are two methods to apply for your business, such as,
- Apply online through the Basher platform
- Apply by visiting one of the offices given below,
Government Service Centre
- Tasheel Offices
- Legal Services Offices
- OnTime offices for government services
- Customer happiness centres affiliated with the economic development departments in all Emirates
For Mainland Business Setup
Given below are the steps involved in mainland business setup,
- Select the right business activity.
- Determine your company’s legal structure.
- Register your company’s trade name.
- Get initial approval
- Create MOA or LSA
- Select a location for your company
- Get additional government approvals
- Submit required documents
- Pay your fees and get a trade license
- Register your company with the Chamber of Commerce and Industry
For Free Zone Business Setup
For a free zone business setup, follow the given procedure,
- Determine your business activity.
- Determine a legal structure.
- Register company name
- Select a location and office
- Get initial approval
- Registration and fee payment, along with the required documents
Summary
A tech startup in Dubai can be very successful due to the UAE’s flourishing business market and government policies. Tech startups in the UAE bring technology products and services to the industry in new ways. You can start your company on the mainland or in a free zone and get your trade license through the UAE’s economic development department.
Al-Riyady is here to help you with your tech startup process in UAE. Our expert team will help you with the economic development department’s requirements, the setup process and top tech companies to set the right course for your business. We can also help you with tax consultation, business feasibility study, accounting services, auditing, etc.
