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Dubai - A city of the future, 4 innovative businesses on high demand

Dubai – A city of the future, 4 innovative businesses on high demand

Dubai is transforming into an innovation hub and its government is investing billions of dollars to make this goal a reality. Dubai is ranked as 14th most innovative city in the world, ahead than Shanghai and Berlin, according to Dubai Innovation Index 2018.

Investment is being driven into many sectors to support numerous initiatives by Dubai government that will foster innovation across all segments of society and support emirate’s transition to knowledge based economy. Expo Live, for example, is an innovation and partnership program launched by Expo 2020 to provide funding, guidance and exposure to innovators whose creative solutions are improving lives, preserving the planet or both. This means tremendous business opportunities for companies and innovative entrepreneurs to go for business setup in Dubai.

Also Read: How Dubai has best business infrastructure in the world

In this article we have highlighted four innovative businesses that are on high demand in Dubai and for their setup we also provide guidance on how to go for company formation in Dubai.

1. Accommodating a sustainable infrastructure (Electric cars charging stations)

The UAE is ready for electric vehicles and Dubai is leading the way by making rapid developments in electric vehicle initiatives and infrastructure seen across the world.

As part of sustainability initiative taken by the emirate, Dubai Electric Water Authority (DEWA) started installations in Dubai with a target of 100 stations in 2015. Under the name “green charger initiative”, the purpose is to lower carbon emissions by 16% by 2021.

In the future, we will see big number of electric cars in Dubai. It’s cheaper as there is no maintenance cost involved, only replacement of tyres so there is 50% less maintenance cost than for a normal car.

In 2018, DEWA has added further 100 new electronic vehicle charging stations in the emirate, bringing the total number up to 200. Saeed Mohammed Al Tayer, CEO-DEWA believes that at least 10% of all newly-purchased cars will be electric or hybrid from 2016 to 2020. This presents a tremendous business opportunity to build electric cars charging stations in UAE as it is going to be a dire need in future.

2. Express Shipping (Drones Delivery/Tunnels)

Drone delivery is one of the newest technological development that has revolutionized the shipping industry and it has come to Dubai, starting its operations from March 2018.

Shipping companies are shifting from traditional truck delivery to drone delivery as it is quicker and far more environmentally friendly than the current standard of truck deliveries.

According to Khaleej Times, The Roads and Transportation Authority (RTA) of Dubai, as well as Dubai Future Accelerator, have started conducting drone delivery trials this year.

Various companies such as Eniverse Technologies, an autonomous unmanned aerial vehicle (UAV) delivery company has stepped into this sector and planning to cut their delivery cost by 30-40% by switching from truck to drone delivery. We can also expect numerous partnerships taking place in future between international and Dubai companies that will target logistics and delivery industry. For an innovative and resourceful entrepreneur, this is a good opportunity to start business in Dubai.

Also Read: Impact of logistics sector growth with Expo 2020 in UAE

3. Making a new path to travel (AI in public transport regulation)

Dubai is harnessing Artificial Intelligence in its transport and mobility sector. Dubai’s Roads and Transport Authority (RTA) is using AI techniques from customer service and feedback management to drivers’ training and mass transit.

Dubai Metro is the world’s longest driverless train network which is driven by artificial intelligence. The Autonomous Air Taxi (AAT) built by Volocopter, a German based specialist manufacturer, is a 2-seater vehicle that will be used for the world’s first self-flying taxi service. It is all set to be introduced by RTA in the next year.

As a result of AI, we will also see a dramatic decrease in road fatalities.  From smart apps and integrated transport and traffic light system, automated emergency braking and ultimately autonomous driving are important ingredients of road safety and will reduce number of road deaths in UAE.

Mohammad Al Khayyat, RTA’s Director of Smart Services explains that AI is the primary focus of RTA and it will be introduced in many areas such as traffic management, getting around Dubai, customer experience, cognitive licensing services, safety and, security, crisis management etc. The aim is also to have one in four public transport journeys driver less by 2030. Even the customers’ happiness meter is based on AI and it measures customer’s happiness through facial expression recognition.

With enough resources pushing forward the AI business in Dubai, as well as governments cooperating with the companies, SMEs and entrepreneurs efficiently—we may be living in a vastly different world by 2020.

4. Start your business with Business Consultants Dubai

If you want to innovate, you would have to come to Dubai. Start business in Dubai or across UAE with the help of our Dubai business setup consultants. Visit our website Business Consultants Dubai, Contact us for more information or send your query at info@businessconsultantsdubai.com.

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