siliconindia | | JULY 20234In terms of startup and entrepreneurship, UAE has advanced profusely over the years. UAE has been recognized as the best ecosystem for startups and entrepreneurs in 2022, been ranked first globally ahead of the several others like Netherlands, Finland, and more. Even today it continues to thrive as a global business hub, attracting investors, entrepreneurs, and multinational corporations. With respect to the UAE Vision 2021 and beyond, the country is actively diversifying its economy by significantly focusing on sectors such as technology, healthcare, and renewable energy. There are new developments across all sectors. While, the UAE has seen a surge in fintech startups, with Dubai and Abu Dhabi emerging as regional fintech hubs, it is nonetheless behind in the e-Commerce space. The e-Commerce space is booming in the UAE, driven by a young, tech-savvy population and widespread adoption of smartphones. The UAE is emphasizing on promoting home-grown talent and promoting entrepreneurship. Striving for sustainable development, the country has set ambitious renewable energy targets for 2050. However, the venturing process is always a daunting journey, as the idea should be unique, product/service should possess demand and there should be scope of further growth. Entailing a serious set of steps ideation, business planning, modelling, funds, registration and more, including having strong online presence, and location, it is not easy to get it done all alone and quick. Owing to the demands new venturing poises across the market, the Company Formation Consultants sector is proliferating today, helping entities along the four intrinsic stages including Promotion of a company (MOA, AOA, Consent of the Directors, Agreement, Fee Payment), Incorporation of a company, Subscription of capital, Commencement of business. The steps to establish a company in the UAE Mainland can be furthered as, Identify the Nature of Your Business Activity, Determine Your Company's Legal Structure, Register the Trade Name, Apply for Initial Approval, Create LSA or MOA, Choose Your Business Location, Apply for Additional Government Approvals, and more. Hence choosing the appropriate Company Formation Consultant is first step to creating a long haul business journey. And this is where we are striving to fill-in providing our bit of assistance shortlisting some of the best Company Formation consultants through our current edition.Do read through and let us know what you think!Mandvi SinghAssistant Editoreditor@siliconindia.comStanding at the precipice of the digital age, is it possible for anyone to imagine life without electronic devices, today? Undoubtedly, No. Technology is the disruptor today while accelerating this digital revolution are the semiconductors- an essential component of electronic devices, enabling advances in communications, computing, healthcare, military systems, transportation, clean energy, and countless other applications. These tiny chipsor integrated circuits (ICs) are vital to overhauling the entire business and industrial ecosystem, given our significant reliance on modern infrastructural machines and computer systems to smoothen operationsthoroughly.Owing to the prolific growth of the electronics industry, India has been on an ambitious journey to becoming a global leader in the semiconductor industry, emphasizing on and establishing domestic manufacturing capabilities. According to TechSci Research, India Semiconductor Market stood at $27,788.29 million in 2022 and is forecast to grow at a CAGR of 24.56 percent by 2028. This growth is driven by the high demand for smaller electronic devices, increasing penetration of the Internet of Things, and the emergence of advanced consumer products. Another report by Counterpoint Research forecasts that in three years, telecom stack and industrial applications will account for two-thirds of the total semiconductor market value in India. Moreover, over 70 percent of the project costs for semiconductor manufacturing are incentivized by the Central and State Governments in India, of which the Central Government funds 50 percent. Also, New Delhi plans to reopen the application process for $10 billion in incentives and assistance to encourage local chipmaking. However, given the predictions, India's semiconductor industry manufacturing is yet to take off, and many manufacturers are boosting it.In this current edition `10 Most Promising Semiconductor Companies ­ 2023', of our magazine we have come up with a list of dedicated chipmakers and chip design providers that are backing up the tech giants and at the same time elevating the country's name in the digital & technology space.Mandvi SinghAssistant Editoreditor@siliconindia.com PublisherAssistant EditorAssociate EditorAlok ChaturvediMandvi SinghIndranil ChakrabortyVol 10 · Issue 08 - 02 · JULY, 2023Editorial TeamAvinash BarikHima P. MP. Tejaswini Manager - DesignPrabhu Dutta A.R.N RayArt ManagerSuanya Chakraborty Designers Mrigank SharmaAntony Arnold FGM- Sales & MarketingShashi RanjanAdvertising ManagerBhaskar Bibek Nayak advertise@siliconindia.comEditorial Querieseditor@siliconindia.comCirculation Manager Magendran PerumalTo subscribeVisit: https://www.siliconindia.com/subscribe/or send email to subscription@siliconindia.comMagazine Price is Rs. 150 per issuePrinted and Published By Alok Chaturvedi on behalf of Silicon Media Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Publisher Alok ChaturvediCopyright © 2023 Silicon Media Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.siliconindiaA Perfect Guide to Your New HustleEditorial
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