DUBAI AS A START-UP HUB

There is no doubt today that Dubai is one of the richest cities in the world with the population growing from one million a decade ago to 9 million today. There is also no doubt that it is one of the world’s capitals for large corporate investments, as it has established itself to be the center of an enormous market spreading to Middle East, Africa and South Asia. Dubai business environment serves as a gateway for much larger potentials of surrounding markets. For international corporates, coming from the far West it represents secure ground for much larger ambitions.

Investors who aim at expanding their business at markets of Africa and South Asia that are ready to explode are taking Dubai as a starting point, geographically and strategically. As the whole region can be reached easily Dubai offers many unique opportunities and has proven to be economically diverse. Huge financial investments, of course, but it has a growing tendency of becoming entrepreneurial paradise and start-up hub. There are incubators and accelerators made to help entrepreneurs make their business idea a reality, while the government also supports entrepreneurial activities.

 

Let’s talk about Careem, a transportation network company based in Dubai, but operates in 53 cities in 11 countries and uses 150,000 drivers. Careem works as an online application. To use it you simply need to download Careem and of course create an account. From that point on you can easily book a ride whenever and wherever you need it. Careem will automatically pick up your location, while you should precise if you want to ride now or later and choose your location which will enable you to get a cost estimate. An application enables you to follow your Careem car on the map in real time, so you know how long it takes until it reaches you and how long it will take to get to your desired location. Careem offers a variety of different cars – from delivery vehicles, economy cars for everyday ride, cars with more space or family friendly cars equipped with child seats, cars with a female captain to luxury rides.

 

Careem is a relatively new company, founded in July 2012 as a online service for corporate car bookings. In the meantime it evolved in a transportation network company. According to the Financial Time, in December 2016 Careem raised $350m, while its previous funding round raised $72m. With examples like this Dubai is reaching its leading position in the start-ups world.