Twofour54, the Abu Dhabi creative and media zone, yesterday revealed details of a new entrepreneurship scheme aimed at helping small start-up businesses.
For Dh13,750 the new scheme, primarily aimed at Emirati entrepreneurs, will give start-ups a work licence in the media zone without having to rent an office.
The high cost of renting office space is often considered a hurdle for would-be start -ups.
The scheme allows two visas for staff and business support for fledgling operations.
The scheme will not be solely available to Emiratis, but will treat applications on a case-by-case basis, allowing great ideas that may not need a physical space a chance to flourish.
“This latest move will provide young start-ups with an opportunity that would have otherwise not been possible and will enhance twofour54’s ecosystem by offering new options to entrepreneurs,” said Noura Al Kaabi, the chief executive at twofour54.
“Reinforcing and empowering young people to fulfil their creative potential is vital to building and sustaining our media and entertainment industries.”
Another project that has been launched in conjunction with the entrepreneurship scheme will allow entrepreneurs access to a business centre facility. This new project is open to everyone regardless of citizenship and provides a "hot desk" – a generic space with desk, computer and printer.
The new schemes will allow visa holders to start a company and employ others, a marked difference to the current freelance visa, which only allows sole work.
They will also allow start-ups to work with government companies and non-governmental organisations, which was also not covered by the freelance visa.
ascott@thenational.ae
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