*By Vinicius Luiz
The region of the Persian Gulf has stood out more and more as a major hub of innovation and entrepreneurship. We at Orbital joined a mission of the Arab Brazilian Chamber of Commerce (ABCC) to Qatar and the United Arab Emirates approximately two weeks ago and had the opportunity to visit some leading innovation ecosystems in the two countries, and we were impressed with the infrastructure and local political will to boost the technological development.
One of the major examples that we got to know was the Qatar Science & Technology Park, which aims to develop innovative and sustainable technologies for the global market. In addition, the Digital Incubation Center in Doha is an initiative that offers support for startups in their early development stages.
In the UAE, we visited the Sharjah Research, Technology & Innovation Park (SRTI Park), a research and development center focused on information technology, biotechnology, and renewable energy. Additionally, the Dubai Future Foundation aims to foster innovation in a variety of fields, from healthcare and education to transportation and logistics.
The UAE government has specific goals for boosting innovation in the country, like creating 30 unicorns by 2030. And this isn’t just an empty target but an actual goal that has been pursued with significant investments in research, development and entrepreneurship.
Furthermore, all free zones we visited are open to receive foreign capital and offer tax incentives for companies that establish themselves in the region. This means that, besides the infrastructure and the local political will to boost innovation, the companies can also rely on a business-friendly environment and a global network of partners and clients.
For the Brazilian companies, the Gulf region is a great opportunity for overseas expansion. Instead of following a traditional pattern of looking to the North America or Europe, the companies can enjoy the local focus and infrastructure to boost their business and develop innovative projects. As numerous companies across the world are ready to do business in the region, the competition is fierce, but the opportunities are huge.
In short, the Gulf has cemented its position as a major innovation and entrepreneurship hub, with local infrastructure and will to boost the technological development. For Brazilian companies seeking to go international, the region represents a unique opportunity to develop innovative project and do business in a growing market.
Vinicius Luiz is one of the founders of Orbital, an innovation consulting firm focused on planning and implementing digital projects.
The opinions expressed in this article are those of the authors.
Translated by Guilherme Miranda
