Foundster Introduces AI-Powered Company Formation in Dubai
- IFZA Freezone is the first integrated partner, offering company formations at official list prices through the Foundster platform.
- Foundster.com launches as the first AI-powered platform for company formations in Dubai, automating 97% of the setup process.
- The AI Assistant guides founders through all steps via chat and WhatsApp – from business model analysis to visa application.
Dubai, UAE, 16 December 2024: Foundster has launched as the first AI-powered platform for company formation in Dubai, simplifying the complex process of business establishment. By leveraging modern artificial intelligence, the platform makes company formation significantly more efficient.
Digitalization of the Formation Process
Foundster utilizes advanced AI trained on over 980,000 words of specialized content covering UAE corporate law and Freezone regulations. Entrepreneurs can easily discuss their business ideas on foundster.com or via WhatsApp with the AI Assistant, mirroring a conversation with an experienced business consultant. The AI analyzes business models, checks legal requirements, and develops tailored solutions for optimal company structures.
Personal Digital Guidance
The Foundster AI Assistant provides step-by-step guidance through the entire company formation process via natural conversations. Founders describe their project, and the AI asks targeted questions to determine the optimal setup. It offers assistance in selecting business activities, choosing a company name, and configuring the shareholder structure – all through seamless dialogue.
After formation, the Assistant also supports visa processes via WhatsApp, providing appointment reminders, directions to government offices, and answers to questions about medical checks or biometric capture. This constant support ensures a smooth and efficient experience for users.
Strategic Partnership with IFZA Freezone
IFZA Freezone has become the first strategic partner to integrate with Foundster. Jochen Knecht, CEO of IFZA Freezone, commented: “With Foundster, we have found a partner who makes AI impressively accessible for company founders. The AI Assistant exemplifies what good technology should do – simplify complex processes and provide founders with clear guidance at every step of company formation. This innovation aligns perfectly with our commitment to making the formation process as simple and efficient as possible.”
Experience and Technology
The platform is the brainchild of German entrepreneur Tobias Hieb, who founded TeamGrid in 2015, a cloud-based project and process management platform. Over the past decade, Hieb has supported more than 600 companies worldwide, ranging from small businesses to Fortune 100 corporations. Now, he applies his extensive expertise in process automation to integrate AI purposefully into the company formation journey.
“At Foundster, we use AI in a very focused way. It handles tasks where it provides founders with the greatest added value,” explains Hieb. “Our experience from supporting hundreds of companies has shown us where the common challenges lie. We address these pain points with our AI Assistant, making the formation process significantly more efficient.”
Further Expansion Plans
The Foundster team is already working on expanding the platform’s offerings. “The successful launch with IFZA Freezone is just the beginning,” says Hieb. “We are gradually expanding Foundster to include additional Freezones and integrating Mainland formation options. Our vision is to make Foundster the central digital hub for company formations in the UAE. Founders will be able to compare all available options on our platform and find the best solution for their business model.”
Expansion plans are set for 2025, with the proven AI-guided approach extending to new areas, ensuring Foundster’s growth as the go-to platform for entrepreneurs in the UAE.
