Dubai SME launches digital technology-focused business incubator

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The Mohammed bin Rashid Establishment for the Development of Small and Medium Enterprises (SMEs in Dubai) has launched a business incubator to support start-ups focused on digital technology.

The incubator, called Concept+, will provide broad support ― from attracting innovative ideas in emerging technologies to incubating them into commercially viable projects and guiding them through early-stage challenges ― Dubai SME, which is part of the Department of Economy and Tourism, said Tuesday.

Support will be offered in feasibility studies, legal and development advice, training and employment, coworking spaces, as well as access to investors, service providers and partners, until the project reaches the maturity necessary to sustain growth.

The new incubator’s start-ups will also benefit from marketing advice, including specialized spaces to test products and access to online and physical stores.

“As a key partner and main driver of business activity in Dubai, the private sector must continue to strengthen its role in overall economic development,” said Abdul Al Janahi, Managing Director of Dubai SME.

“Particularly in the development of small and medium-sized enterprises, the public and private sectors must align to open up opportunities for innovative companies by facilitating access to new markets and financing.”

In Dubai, SMEs make up 95% of businesses and employ 42% of the workforce, accounting for 40% of the emirate’s economy, according to government statistics.

Dubai SME has launched several specialized incubators to support the growth of the start-up ecosystem. Last year, it introduced a business incubator, Ztartup, to meet the needs of SMEs operating in the fields of health technologies, including digital media, augmented and virtual reality, emergency technologies and digital security.

In June last year, it also partnered with the American University in Dubai to create a business incubator to encourage innovation and entrepreneurship among students.

“The government is developing systems and frameworks to promote start-ups and alternative financing options, such as crowdfunding,” Mr Al Janahi said.

“Creating new business opportunities and channeling entrepreneurial talent into emerging sectors is particularly important as the UAE seeks to build a prosperous future for its younger generations by investing in people as well as science and technology. peak,” he added.

Concept+ is the latest addition to the Dubai Business Incubator Network, which is certified by Dubai SME.

“We strive to nurture creative minds and build a community that is passionate about a better future, and our knowledgeable team can help them meet the challenges of entrepreneurship. We believe that co-creation is the secret recipe for success” , said Mohammed Al Mansoori. , founder of Concept+, said.

Updated: 07 June 2022, 16:47

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