twofour54 leads the way in support for media, entertainment and digital entrepreneurs
17 Nov 2015
twofour54 is leading the way in supporting media entrepreneurs with a dedicated scheme that has already helped ten UAE Nationals to set up successful businesses in the creative industries. This week is Global Entrepreneurship Week, and will be followed by UAE Innovation Week next week.
Introduced in 2014, twofour54’s entrepreneurship scheme allows entrepreneurs to obtain a business licence for the media zone without the need to rent office space. Through this scheme, start-up companies are also provided with two visas for staff, access to a shared business centre facility, networking opportunities, and advice on developing and growing their business. This model is cost-efficient for start-ups to get off the ground, while widening the talent pool available to the growing Abu Dhabi media community.
twofour54’s investment in supporting entrepreneurs has already yielded some great success stories. RideBlock, the world’s first skateboard fitness tracking device was prototyped in Abu Dhabi after securing investment funding. Eyal Al Dar was started by one of very few Emirati stand-up comedians and is now a fully-fledged production company filming a complete TV series.
Commenting on the success of the scheme, CEO of twofour54 Noura Al Kaabi said: “Supporting entrepreneurs and start-up businesses is hugely important when you consider that SMEs contribute a huge component of the UAE’s non-oil GDP and account for a high percentage of private sector employment. I’m delighted that, with twofour54’s help, entrepreneurs have been able to create and grow businesses to a level where they require their own office space, have taken on staff and have secured investment funding to expand. These will be the employers of the future.
“The UAE was ranked first in MENA and 31st globally for ease of doing business by The World Bank this year, which is testament to the efforts that twofour54 and other entities throughout the UAE are making towards supporting entrepreneurs and start-up business owners,” she added.
In addition to its entrepreneurship scheme, twofour54 has invested in Abu Dhabi’s first start-up accelerator, Flat6Labs, to further support those with commercially strong media, entertainment and digital concepts. This year Flat6Labs has helped to launch seven new Abu Dhabi-based start-ups, with another eight now participating in the five month programme.
Companies setting up at twofour54, big or small, enjoy easy licensing and business set-up services in addition to 100% company ownership in a tax-free environment.
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