UAE-based company formation specialists, Virtuzone have launched AMP – the region’s first dedicated e-commerce startup accelerator programme.
To make AMP accessible to any entrepreneur, the accelerator programme is offered free of cost with the establishment of an e-commerce company with Virtuzone.
The AMP e-commerce-focused accelerator is run in collaboration with the likes of Etisalat, Aramex, Launch DXB, HotDesk, Tasjeel.ae, HyperPay and others.
Startups that join the AMP programme will get Dhs60,000 worth of premium benefits and subsidies that cover the bulk of operating costs for trade licencing, bank account opening, e-commerce website development, payment gateway, digital marketing, shipping, warehousing, logistics, office space, and mentorship, among other e-commerce business requirements.
“AMP [by Virtuzone] brings together the leaders in the UAE e-commerce sector and unifies them to provide a complete support infrastructure for e-commerce startups. Simultaneously, we are supporting other local key players and businesses such as HotDesk and Tasjeel, who can then play a part in bringing about the next startup success stories of the UAE. Through AMP, we seek to build a community of e-commerce entrepreneurs where they can exchange ideas, build partnerships and work together to elevate the country’s e-commerce sector,” said George Hojeige, CEO of Virtuzone.
The core objective of AMP is to accelerate the growth process for aspiring e-commerce entrepreneurs, minimise the risks and challenges involved, and put them in a position to succeed.
Neil Petch, chairman and co-founder of Virtuzone, added, “With the tremendous growth of the UAE’s digital economy, which now accounts for 4.3 per cent of the nation’s GDP, we felt that it is our duty to create the perfect opportunity for aspiring entrepreneurs to harness this potential, while supporting the vision of the UAE government to build a robust digital economy and facilitate digital transformation across all sectors.”
In an effort to boost the activities of tech startups in Dubai, a new Dhs1bn Dubai Future District Fund was launched to support seed- to growth-stage tech startups. The fund is said to be designed to realise the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish 1,000 tech companies in the country within five years, encourage them to list in the Dubai Financial Markets and stock exchange, and also increase startup investments from Dhs1.5bn to Dhs4bn.