Starting a Company In Dubai - Need help with Ideation

[kameronja]

Hey all,

I'm based in the US but have some family out in Dubai and I think it could be a great marketplace to start something. It's not as competitive and saturated as a lot of US markets. I've done some research and realized that the city is far behind in their SEO. It's difficult to find out information and they seem to be lagging in the internet era. This, however, could turn out to be a good thing as that leaves lots of room for growth potential. I want to pick the forums brain and get some feedback on a few things:

a). any advice for ideation and innovation in foreign markets that are developing at a rapid rate
b). some help on testing ideas before I hit the ground there - there doesn't seem to be much great forum activity specific to Dubai out there.


Thanks in advance for the help!

 

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[Kingmaker]

You will need a local sponsor who will own 51% of your company & ability to show the govt your company has capital in the bank to pay liabilities (starts at $10000+). What's your background? Are you already running a successful SEO agency in the US and trying to expand?

 

[kameronja]

You will need a local sponsor who will own 51% of your company & ability to show the govt your company has capital in the bank to pay liabilities (starts at $10000+). What's your background? Are you already running a successful SEO agency in the US and trying to expand?

 

[GrayCode]

Great response!

 

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[kameronja]

So basically, my dad lives there and already has a company set up in the Jebel Ali free zone meaning no need to get a local partner. He has the company set up as a shell so he can sponsor my mother and sister. I grew up in Dubai for 14 years so I have an extensive network out there, but just not a very good understanding of the entrepreneurial climate or start up sector.I don't have an SEO company and in fact have no background in that area of expertise. Was just making a point that when researching about various industry landscapes, its hard to come by valuable information. I'm getting to know it a little bit better after speaking with one of my friends at one of the first VCs in the country and i have a business partner right now. He has a finance background, I have a marketing background and we are ideating about what best to bring to that market. So far we have a few ideas.

One is a peer to peer payment system (think venmo/paypal) but due to heavy government regulation, that are lots of complications with that idea.

Second is an app/website that allows users to directly access different recreational activities, watersports, desert safaris, sky diving, etc and book directly through the app. This seems to be the idea we are currently running with but I'm not sure if it's really a home run. Doesn't necessarily meet all the requirements to the millionaire fastlane so still want to brainstorm some other ideas.

Feel free to spew anything you think would be insightful.

 

[Kingmaker]

One is a peer to peer payment system (think venmo/paypal) but due to heavy government regulation, that are lots of complications with that idea.

Yeah, and the society is a lot more cash based than the western world.

Second is an app/website that allows users to directly access different recreational activities, watersports, desert safaris, sky diving, etc and book directly through the app. This seems to be the idea we are currently running with but I'm not sure if it's really a home run. Doesn't necessarily meet all the requirements to the millionaire fastlane so still want to brainstorm some other ideas.

This is a better idea. Tourism is a cash cow for Dubai and will become even bigger in the future.


In general, I think copying business models that already exist in the western world and applying them in Dubai is the way to go. No need to reinvent the wheel. Dubizzle (Craigslist) and Careem (Uber) are two of the bigger examples.


PS
Now if you wanted to go backwards and bring something to the US here are some ideas I liked in Dubai:
1) Food delivery. Postmates and DoorDash in the US are valued at the ~400million each in the US, but there's room for another company who works with/for restaurants. Those little food delivery motorcycles are everywhere in Dubai and all you have to do is pick up the phone and call the actual location to get what you want delivered including groceries and pharmacies.
2) Hand detail at the mall parking garages. Park your car, and get it detailed on the spot while you're watching a movie or shopping. I don't know why this isn't in the US.
3) App for checking in at event places and tracking your results. This can be any kind of events, but for example I went to the Dubai Kartdrome and they made me download an app to check in since it was my first time. It even e-mails you your lap times. If you look at the maker of the app, they have the karting industry on lockdown across the world:
https://itunes.apple.com/us/develop...29698?iPhoneSoftwarePage=1#iPhoneSoftwarePage

 

[kameronja]

Thanks Kingmaker. That's some incredible advice. You seem to have a sound understanding of what's going on in that part of the world. I especially like your idea about the parking garage cleaning service. I live in NYC now and it's funny because I always think of the US as being the king of innovation and consider Dubai to be so far behind in so many respects so never thought about idea transference from east to west. In any case, my appeal for moving back to Dubai and starting something there is I'll be able to live rent free (move in with my folks). Like that I can really just focus on my business and not have to toil with part time work to pay my living expenses. Plus my dad already has a shell company set up for me with 2 visa allotments, so it's really an ideal situation from an administrative side.

My business partner and I are developing this idea for a bookable recreational market place now, coming up with a business model, what verticals to initiate with and subsequent verticals to move into. We are currently looking for a tech guy and trying to formulate a schedule so we can head to DXB around beginning part of April to start pitching the idea..maybe get some pre sales or even some VC money. Really just want to make sure we are tracking a sizable market that can yield high returns in a few years to come, so want to vet the idea a bit more before I put all my eggs in this basket.Still open to consider different avenues in the UAE.

Let me know if you have any more advice as you've already provided some great insight.

Thanks a lot.

 

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