An online platform to share dreams, a system to check whether products are fake or genuine, and a device designed to improve communication between deaf people and others are three of the ideas that will be developed in the first intake of DP World's Turn8 seed accelerator programme.
The port operator announced the scheme in April, saying that it wanted to encourage innovation that may benefit an industry that is expected to change dramatically in coming years, and because DP World has always prided itself on being open to new ideas. Innovation is also a main theme of Dubai's bid to host Expo 2020, which DP World supports.
DP World delegated the day-to-day management of Turn8 to i360, Dubai's only commercial accelerator.
This round focuses on technology and business models that will change consumer behaviour. DP World and i360 assessed 400 ideas before inviting applications from 46 teams. A total of eight international teams from Egypt, Belarus and Ukraine will join one team from Dubai. Another two Dubai teams will join this round of i360's own programme.
"We were very pleased with the quality of the ideas," Kamal Hassan, i360's president, said. While he had hoped for more teams from Dubai, DP World had hoped for more ideas from its own employees.
"The volume wasn't as big as expected," said Yousif Al Mutawa, who is DP World's chief information officer and a member of the selection panel.
"But this is about learning and awareness. I think this first time, people just want to sit and watch, to understand the experience because it may seem a bit external to the internal work they are doing."
The teams from Dubai are working on a mobile loyalty points programme, an e-commerce platform to supply school and office supplies, and a mobile app to help decision making.
The teams will arrive at the accelerator located at The Football Centre at the Al Quoz industrial estate at the start of next month. Mr Hassan hopes the location will generate creativity and drive.
Mentors are lined up to coach the teams through the four-month programme.
Slightly unusually the coaches will get an equity stake if they stay around with their team; mentors typically donate their time for free but "we had a little bit of a struggle with that model", according to Mr Hassan.
Mr Hassan has also lined up venture capitalists who he hopes may provide funding to develop and grow the teams after they graduate from the programme.
lgutcher@thenational.ae
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Remaining fixtures
- August 29 – UAE v Saudi Arabia, Hazza bin Zayed Stadium, Al Ain
- September 5 – Iraq v UAE, Amman, Jordan (venue TBC)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Brief scores:
England: 290 & 346
Sri Lanka: 336 & 243
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
