Dubai SME launches new business incubator in American University

Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has added a new business incubator in American University in Dubai.

The certified business incubator will focus on the best practices followed globally to encourage innovation, with students standing to benefit from varied facilities, including common workspaces and incentives to launch their projects.

“Business incubators in universities will strengthen youth orientation towards entrepreneurship and support them in launching entrepreneurial projects in varied sectors. Eventually, these incubators will produce a generation well aware of the techniques and tools needed for the sustainable development process in the UAE and the future economy in Dubai. Such initiatives are critical to enabling younger generations and entrepreneurs to achieve professional competencies and emerge as business leaders of the future,” said Abdul Baset Al Janahi, CEO of Dubai SME.

Al Janahi said that most of the projects being incubated in the certified facilities are across diverse sectors, including renewable energy, digital technology, marketing, e-commerce and sustainable energy, among others., according to state news agency WAM.

Dr. David A. Schmidt, AUD president, meanwhile added: “We are pleased today to have accredited accelerators and business 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 building 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 youth entrepreneurs in Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launched a new platform called Dubai Next last month.

Dubai Next is an integrated digital platform that allows youth innovators and entrepreneurs of any nationality in the emirate to secure funding to launch their projects. Furthermore, Dubai SME will provide a package of incentives for those who obtain financing via the new platform. The package includes incubating the idea in the Hamdan Innovation Incubator (HI2) or in one of the several certified incubators in Dubai.

Read: Sheikh Hamdan unveils new crowdfunding platform in Dubai for youth entrepreneurs