Not all ventures will be eligible for this type of licence. An application must include a detailed business plan that demonstrates that the company is a technology-driven startup with an innovative business concept that:
Has the potential to scale.
Promotes innovation, in terms of the business application and deployment.
Can be deployed in the UAE and contribute to the development of the local economy (i.e. you must be planning to operate in the UAE under the licence following incorporation or within 6 months of the licence being issued).
Importantly, an operating entity simply using technology will not qualify. There must be an element of technology development.
In addition to having a suitable business plan, an ADGM Tech Startup is also required to lease office space on Al Maryah Island or Al Reem Island in Abu Dhabi. Before the first renewal of the commercial licence, the company must also have at least one valid employment visa issued under it, or it must have at least one employee (who is a shareholder of the ADGM Tech Startup) with a valid UAE visa under another operating licence in the UAE.