Cubet to be a part of the largest Tech Event in the Middle East – GITEX 2017
Ever since Cubet announced attending the GITEX 2017 DUBAI this year, we’ve received quite many questions from our well-wishers and acquaintances on why we are targeting IT enterprises in the Middle East market. Well, being a software service company primarily focusing on the UK, US markets, this was an expected question and we were trying to address this question over the last few days. I am going to talk a bit about why GITEX “is the place to be”, why we are giving a new direction of focus on the Middle East market and how this geography is going to make an impact on the global IT business trends.
The last 3 + years have witnessed a massive depreciation in the in oil prices and this has put the Middle Eastern nations in danger of missing out in the worldwide race. Everyone expected the worse, and certainly there was a big impact on the economy of the Middle East countries. Yet, despite the situation, Dubai has developed as one of the five quickest developing economies on the planet. Dubai has rather broadened and is drawing tech ability from over the globe. Dubai is already well famous as a traveller’s paradise but now the focus is switching and it is on the way to be the make of the next Tech Silicon Valley.
The new tech startups are seeing Dubai as their favourite destinations because of variety of reasons. Fundamentally, Dubai offers the perfect foundation to support the development of new companies, you can see numerous incredible startups and established tech companies opening up their centres in Dubai to target the entire Middle East market.
The UAE, Qatar and Bahrain has an incredible 100 % smartphone penetration and more than 70 % of the people are active in social media which is even higher than the United States. The government in the region have begun implementing core digitization initiatives, which is giving a large boom to its IT sector business. The digitization initiatives is expected to result in a higher GDP growth in this region, the tech companies find this as a fabulous opportunity as it will result in a large demand of IT skills and IT resources. The major tech players have already taken front seats by understanding the depth of the opportunity. Earlier this year, Amazon made its first move into the Middle East with one of its largest acquisitions in recent years – the purchase of Souq.com, the e-marketplace that serves 50 million people across the region. This is a clear indication that e-commerce has great potential on the regional scale, especially given the rise of the online retail sector.
Dubai is home to a portion of the wealthiest individuals over the world and they chose to live and work in Dubai. The luxury market, currently worth around $200 million, is expected to reach $1.7 billion in the next few years, and we are already seeing bright young entrepreneurs taking the sector online with shopping portals and virtual shopping destination. Even though the region has long played host to technology companies, it is only in the past few years that breakthrough startups have begun to secure significant investments from global players. With the technology infrastructure demands growing high, there is a big rush of tech visionaries to join the line to explore the chance.
Dubai has extraordinary exchanging and transportation framework, with many Asian and African countries developing at a rate of more than 5 % in a year, and these now being sure markets on the planet which are really developing at an awe-inspiring rate, to get to these business sectors Dubai is serving to be the entry point. Each part in Dubai is witnessing development, be it tourism, transportation, wellbeing and so forth, the most important aspect is, the target consumers to these sectors is an international crowd and therefore digitization plays an important role in connecting with this international audience.
To attract entrepreneurs to setup their base in Dubai, the Government has established Free-trade Zones, these zones are now home to a large number of digital companies. The free zones are entrepreneur friendly and it offers many great benefits such as zero income/corporate taxes, zero duties on import/exports, liberal labor laws etc.
The diversity in culture and population is another great attraction that Dubai has; having a diverse environment in terms of culture helps entrepreneurs build stronger businesses. Diversity is the key to innovation and growth because it helps in having a multitude of different perspectives and ideas to solve a problem.
Finding investors to fund a business is always a challenging task, Dubai being the favoUrite destination of richest class worldwide, the number of investors that are willing to take the risk and invest large amounts of money in a startup is increasing, especially in the technology sector.
With its unique location, the government’s continued investment in infrastructure and business development, it’s unlikely that Dubai can be the next Silicon Valley of the MiddleEast. Currently serving as one of the world’s biggest and highest-potential startup hubs, this is only the beginning of what the Dubai can offer.
Dubai is an exciting place and it is time to be an innovator. We relish the challenge and the opportunity and thus chose to be part of GITEX 2017 Dubai.
GITEX (Gulf Information Technology Exhibition) Technology Week is widely recognized annual trade event, exhibition and conference takes place in Dubai(UAE) at the Dubai World Trade Centre to identify the latest global IT trends and combine together world’s most recognized brands, startups and exclusive international investors. It is the 3rd largest technology event on the planet, with over 146,000 visitors from 144 countries expected. It is aimed at bringing together the most innovative, creative and pioneering tech startups as well as tech brands to present the world changing ideas & cutting edge technologies across the global investors. It is unquestionably the entry point to the ever-growing MiddleEast IT business market.
At GITEX, we will demonstrate our IT expertise and products that map best with your business. Our in-person meeting will help us to understand you deeply and suggesting the finest solution.
See you there!