Dubai, UAE, 16 December 2024:
Foundster launched as the first AI-powered platform for company formation in Dubai. The system simplifies the complex process of business establishment through modern artificial intelligence, making company formation significantly more efficient.
Digitalization of the Formation Process
The Foundster platform utilizes advanced artificial intelligence, trained on more than 980,000 words of specialized content covering UAE corporate law and Freezone regulations.
Entrepreneurs can easily discuss their business idea on foundster.com or via WhatsApp with the AI Assistant – similar to a conversation with an experienced business consultant. The AI analyzes the business model, checks legal requirements, and develops tailored solutions for the optimal company structure.
Personal Digital Guidance
The Foundster AI Assistant guides users through the entire formation process in a natural conversation. Founders describe their project in the chat, and the AI asks targeted questions to determine the optimal setup. It advises on selecting appropriate business activities, assists with company name selection, and configures the shareholder structure – all in an uncomplicated dialogue.
After formation, the Assistant accompanies visa processes via WhatsApp: It provides reminders for appointments, gives precise directions to government authorities, and answers questions about medical checks or biometric capture. This constant availability ensures a smooth process for all necessary steps.
Strategic Partnership with IFZA Freezone
IFZA Freezone has been secured as the first partner. “With Foundster, we have found a partner who makes AI impressively accessible for company founders. We are very pleased to be partnering with Foundster to enable this modern form of startup support for entrepreneurs. The AI Assistant exemplifies what good technology should do – it simplifies complex processes and provides founders with clear guidance through all steps of their company formation. This type of practical innovation perfectly aligns with our commitment to making the formation process as simple and efficient as possible,” explains Jochen Knecht, CEO of IFZA Freezone.
Experience and Technology
Behind Foundster stands German internet entrepreneur Tobias Hieb. With the founding of TeamGrid in 2015, he developed a successful cloud-based platform for project and process management. Over the past ten years, he has supported more than 600 companies worldwide – from small businesses to Fortune 100 corporations. He now applies this extensive expertise in process automation to integrate AI purposefully into the company formation process. “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 most common challenges lie. We address exactly these pain points with our AI Assistant, making the formation process significantly more efficient.”
Further Expansion Plans
The Foundster team is already working on the next development stage of the platform. “The successful launch with IFZA Freezone is just the beginning,” explains Hieb. “We are gradually expanding Foundster to include additional Freezones and integrating options for Mainland formations. Our goal is to develop Foundster into the central digital hub for company formations in the UAE. Founders should be able to compare all available options on our platform and find the optimal solution for their business model.” The expansion of services is planned for 2025, with the proven AI-guided approach being extended to the new areas.
