When applying for an ADGM tech startup licence, a detailed business plan demonstrating that the company is a technology-driven startup with an innovative business concept must be submitted. An operating entity simply using technology will not qualify. The business plan must show that there is an element of technology development.
When preparing the business plan, the following components must be covered in detail:
Business Details
Business owner name, email and phone number
Startup name and ULR (if existing)
Startup location
Business Concept
When did you begin your startup?
What is the need you are trying to address and what is your solution?
What is the technology that you are developing? Is development done in-house or outsourced?
Who are your main competitors?
How far along are you? If you are live, what is your traction to date (e.g. users, revenue, monthly growth rates, etc.)? If not, what have you developed so far? Please share as much information as possible.
What markets are you planning to serve?
What is your strategy to acquire customers?
How will your business generate revenue?
UAE Operations
Why do you want to set up your company in ADGM?
What are your UAE operational plans (UAE and Abu Dhabi), including timeline and number of team members?
Business Financials
3 Year Financial Forecasts
How has your startup been funded to date? Have you raised funding for your startup?
If yes how much have you raised so far? What is the source of investment?
Have you raised any debt?
What is your existing runway? Would you need to raise additional finance? How do you intend to do that?
The Team
How many people would you start with (including yourself)?
For each team member please include a CV and/or a bio
Please indicate what each team member’s current level of commitment to the business is (e.g. full-time staff contributing 25% of their time etc.)
Please show a timeline of when you anticipate each team member becoming full time in the business
Business Milestones
Please provide the milestones that you aim to achieve over the next eight quarters for your product development, and your business