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Abu Dhabi Global Market (ADGM) has announced a new “Tech Startup License” that gives startups the space, structure and support to develop their business model and prove their concept.
This new license:
This new license follows the UAE Cabinet decisions announced earlier in May and supports the UAE’s efforts to diversify the economy, encourage local innovation, and make the investment rules friendlier to small and medium enterprises. There is tremendous interest in this new license considering the large number of startup incubators, accelerators, financiers and professional service providers available in Abu Dhabi and the UAE.
ADGM is building on its experience in hosting fintech startups through its Fintech Regulatory Laboratory (Fintech RegLab). It is supporting fintech startups and helping foster innovation within the UAE financial services market for both new market entrants and existing financial institutions. ADGM’s long-term goal is to develop Abu Dhabi as the premier FinTech hub in the MENA region.
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