The Dubai Chamber of Digital Economy has formally launched a new platform aimed at attracting and supporting digital-focused start-ups as the emirate pushes forth with its aim to become a digital economy powerhouse.
The Business in Dubai programme, which was first announced in June, is being positioned as a one-stop shop that will bridge gaps faced by start-ups in terms of access to funding, workspaces and other opportunities for growth.
The programme also aims to enable them to boost their contribution to Dubai's economy, in partnership with private and government organisations.
The initiative brings together seven new partners – the Dubai World Trade Centre, telecom operator du, Dubai Islamic Bank, Mashreq, Commercial Bank of Dubai, Tecom Group's start-up incubator in5 and workspace platform Letswork.
Their participation was formalised with a preliminary agreement, signed by their top executives at the event on Monday.
The new partners join telecoms operator e& – formerly known as Etisalat – Dubai CommerCity and digital payments platforms Telr and Safexpay, who had signed on in June.
The Business in Dubai programme focuses on two fundamental pillars – a business-matching service that will connect companies with partners, investors and customers, and a comprehensive range of institutional services delivered in co-operation with the Dubai Chamber’s partners.
It will also include incentives to attract more local and international digital start-ups to operate in the emirate.
Digital-focused companies are "extremely important ... so we try to provide what they require. We know Dubai supports people in a good way, but it's the businesses that require certain supports", Ahmad bin Byat, vice chairman of the Dubai Chamber of Digital Economy, told reporters at the event.
Partner banks of the initiative will set up dedicated teams to assist start-ups, he said.
"It won't be just cost effective – it's also more efficient. Instead of these companies going to different places, they can access this platform and get the services, with our team also available to help."
The initiative comes as part of the Dubai Chamber’s drive to create a business environment that enables digital companies to thrive and contribute to the goals of the Dubai Economic Agenda, or D33.
300 digital start-ups
Last year the UAE government announced its Digital Economy Strategy with the goal of increasing the contribution of the sector to the GDP by 20 per cent over the next 10 years, up from 9.7 per cent in 2022, as it seeks to leverage cutting-edge technologies and attract high-skilled talent.
The new initiative is also a step towards Dubai's target of attracting 300 digital start-ups to the emirate by 2024 and boosting its non-oil GDP.
The Dubai Chamber of Digital Economy attracted 69 digital start-ups during the first quarter of 2023.
Business in Dubai "not only unites our strengths but also fortifies the business landscape, empowering more companies to achieve global growth by starting or scaling up from Dubai", said Majed Al Suwaidi, senior vice president of Dubai Media City, part of Tecom Group.
Developing start-ups’ contribution to the economy will help achieve the target of doubling the UAE's gross domestic product by 2031, Abdulla bin Touq, UAE's Minister of Economy, said this month.
Last year, the Ministry of Economy unveiled its updated Entrepreneurial Nation programme, which seeks to develop more than 8,000 SMEs and start-ups by 2030.
The Emirates also aims to be home to 20 unicorns – start-ups with a valuation of $1 billion and above – by 2031, double the number initially planned.
In December, the UAE launched Future 100, a programme aimed at supporting and honouring the top 100 start-ups that are expected to have a significant impact on the country's economy.
The Dubai Chamber is also organising the Expand North Star summit at this month's Gitex Global technology conference, which is dedicated to connecting start-ups with investors.
The summit will be held in Dubai from October 15 to 18 alongside Gitex Global and is expected to attract more than 1,400 exhibitors and 1,000 investors. It could be a "record breaker" for Dubai, Mr bin Byat said.
"Dubai is becoming very attractive for such talent because these businesses require a specific type of talent from around the world. We see people moving from East and West to Dubai – a lot of young, talented individuals – and they start their company here," he added.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
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McIlroy's struggles in 2016/17
European Tour: 6 events, 16 rounds, 5 cuts, 0 wins, 3 top-10s, 4 top-25s, 72,5567 points, ranked 16th
PGA Tour: 8 events, 26 rounds, 6 cuts, 0 wins, 4 top-10s, 5 top-25s, 526 points, ranked 71st
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
