DMCC Free Zone To Launch Tech Hub
by Lorys Charalambous, Lowtax.net, Cyprus
10 September, 2014
Dubai Multi Commodities Centre (DMCC), a free zone in the United Arab Emirates (UAE), announced recently that it has collaborated with Middle East entrepreneurship platform AstroLabs to launch the Middle East's first Google for Entrepreneurs Tech Hub, AstroLabs Dubai.
Ahmed Bin Sulayem, Executive Chairman of the DMCC, said: "We welcome Dubai's first tech hub to the DMCC Free Zone. Dubai is a city built by entrepreneurs for entrepreneurs inspired by the strength and vision of the leadership of the Emirate, and projects like the AstroLabs Dubai launch reflect the caliber of startups that make this vision a reality."
The DMCC Free Zone affords startups the benefits of zero taxation and 100 percent ownership of their businesses. Startups based at AstroLabs Dubai will also benefit from subsidized and fast-track company licensing through a single point of contact at the DMCC.
Google for Entrepreneurs selected AstroLabs Dubai as the newest member of its global Tech Hub network, making it the only Google-partnered hub in the Middle East and North Africa (MENA). Bridgette Beam, Senior Manager at Google for Entrepreneurs, said: "The AstroLabs founders are experienced entrepreneurs who know how to accelerate the growth of early stage companies. We see enormous potential for them to help startups across MENA take their ideas to the global stage."
AstroLabs has already successfully built one of the largest networks of high-growth startups in the MENA region, amplifying the potential impact of the new tech hub. In the last year alone, AstroLabs' flagship 'Scaling Online Startups' acceleration program trained the founders of over 100 startups in cities across the United Arab Emirates (UAE), Saudi Arabia, Egypt, Jordan, and Lebanon.
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