Khalifa Industrial Zone Abu Dhabi (Kizad) has launched an Entrepreneurship and Incubation Centre offering cost-effective work spaces, offices and licensing options to enhance the entrepreneurship and small and medium enterprises (SMEs) ecosystem in the UAE.

Kizad, which is one of the largest industrial zones in the Middle East and a subsidiary of Abu Dhabi Ports, is situated within easy reach of both Abu Dhabi and Dubai. Businesses can be set up at the Entrepreneurship and Incubation Centre starting at Dh13,000 ($3,539), in as little as 24 hours, said a statement.

The centre is open to start-ups, entrepreneurs, traders, SMEs and consultants from across a range of sectors and has been set up as part of Kizad’s support for Abu Dhabi’s economic vision.

According to Ministry of Economy, SMEs represent more than 94 per cent of the total number of companies operating in the UAE and employ more than 86 per cent of the private sector's workforce.

Kizad chief executive officer Samir Chaturvedi said: “SMEs, start-ups and entrepreneurs are a key engine of a strong and diversified economy, creating jobs and driving innovation. This is why we have established our centre to support and nurture these businesses.”

“Businesses can be set up in 24 hours then connect with liked-minded individuals to collaborate and innovate, all at a competitive cost. And, by taking up such a fast and cost-effective service, it means they can focus their two most scarce resources – time and money – on growing their business,” he said.

The Kizad Entrepreneurship and Incubation Centre is able to accommodate thousands of SMEs, start-ups, entrepreneurs and small businesses, with workstations and free zone offices available now, having launched this month.

As well as the one-year free zone business licenses, offices and shared workstations, the centre also offers eligibility for residence visas and access to telephone services, as well as free internet and WiFi, it stated. – TradeArabia News Service