Dubai SME, the Dubai Economy agency mandated to develop the small and medium-sized enterprises (SMEs) sector, has added a new business incubator at the American University of Dubai.
The Certified Business Incubator will focus on best practices followed globally to encourage innovation, with students able to benefit from a variety of facilities, including common workspaces and incentives to launch their projects.
“Business incubators in universities will strengthen the orientation of young people towards entrepreneurship and support them in launching entrepreneurial projects in various sectors. Ultimately, these incubators will produce a generation well aware of the techniques and tools necessary for the process of sustainable development in the United Arab Emirates and for the future economy of Dubai. Such initiatives are essential for enabling younger generations and entrepreneurs to acquire professional skills and become the business leaders of the future, ”said Abdul Baset Al Janahi, CEO of Dubai SME.
Al Janahi said most of the projects incubated at the certified facilities are in various sectors, including renewable energy, digital technology, marketing, e-commerce and sustainable energy, according to the state news agency WAM.
Dr David A. Schmidt, President of AUD, added: “We are pleased today to have accredited business accelerators and incubators, and to join the Dubai Network for Business Incubators under the umbrella of Dubai SME. By incubating these projects and providing the appropriate environment, we ensure the construction of a new generation of creative graduates who are cognitively and innovatively qualified to create and anticipate the future.
In a bid to further encourage young entrepreneurs in Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, last month launched a new platform called Dubai Next.
Dubai Next is an integrated digital platform that allows young innovators and entrepreneurs of any nationality in the emirate to obtain funding to launch their projects. In addition, Dubai SME will offer a set of incentives to those who obtain financing through the new platform. The package includes the incubation of the idea in the Hamdan Innovation Incubator (HI2) or in one of the many certified incubators in Dubai.
Read: Sheikh Hamdan unveils new crowdfunding platform in Dubai for young entrepreneurs