Dmitrii Basalkin, the CEO and Founder of Bright Al, is leading the charge in revolutionizing language education through AI advancements. In a strategic move to expand globally, Basalkin decided to establish headquarters in the United Arab Emirates (UAE), citing the country’s increasing influence in various industries and its welcoming tech ecosystem suited for businesses at every stage of development. The UAE boasts a robust financial marketplace, with major exchanges like DFM and ADX supporting new IPOs and raising billions of dollars in capital. The country is quickly becoming an attractive alternative to traditional financial centers like Hong Kong and London.
The UAE government has played a pivotal role in fostering a business-friendly environment, with streamlined regulations and a strong foundation of free zones that facilitate easy incorporation and operation of new companies. The country has been a pioneer in embracing AI technologies, evident through initiatives like Hub71 and MGX, a new $100 billion fund for AI investments. A progressive tax regime further incentivizes startups, with no individual taxes, low corporate tax rates, and exemptions for certain profits, making it an attractive destination for businesses looking to expand and diversify within the region.
In terms of funding, the UAE offers ample support for tech entrepreneurs through government initiatives like the Dubai Future District Fund and resources like FinTech Hive and Dubai Technology Entrepreneur Campus. The country has also made significant investments abroad, with leading entities like Mubadala and VentureSouq actively supporting startups and entrepreneurial ventures. The collaborative community in Dubai, with thousands of startups and numerous programs to train and support coders, provides a strong foundation for tech companies to thrive and grow.
Moreover, the UAE’s initiative to offer 100,000 golden visas for long-term residency to coders and tech experts further enhances its appeal as a hub for tech talent. These visas offer stability and long-term residency options, making it easier for companies to attract and retain skilled professionals. Basalkin encourages businesses to explore the diverse opportunities available in the UAE, whether it’s funding projects, expanding teams, going global, or seeking liquidity. With a supportive community, innovative programs, and a conducive business environment, the UAE presents a promising destination for tech entrepreneurs looking to harness its vast potential for growth and success.
