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Dubai SME is the agency of the Dubai economy responsible for the development of the small and medium enterprise (SME) sector. It recently held the first meeting of the Dubai Business Incubator Network (DBIN), which is composed of its certified business incubators and accelerators.
The network was established after His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, promulgated a revised law in 2016, which required Dubai SMEs to develop and Develop compliant initiatives and plan their strategic goals, including certification of business incubators and accelerators.
DBIN aims to further stimulate economic activity in the UAE, especially Dubai, by establishing new facilities that can provide promising investment opportunities, thereby helping to strengthen the national economy and create more job opportunities.
The network will serve as a reference and catalyst for the country’s business incubation program, and encourage and support the private sector to invest in business incubators and accelerators.
DBIN has set out to support and promote Dubai’s business incubators and accelerators by facilitating the exchange of information and practical experience between Dubai’s business incubators and accelerators and between its customers and relevant authorities.
DBIN’s first meeting saw member incubators and accelerators showcase their experience in effective entrepreneurial methods, success stories and pioneering initiatives, which enabled hundreds of young people to start their own startup companies. The conference also highlighted the unique experiences and best practices of local and international incubators.
The meeting also discussed the mechanism to strengthen the role of DBIN and the scope of participation in Dubai’s SME initiative, as well as the challenges and opportunities faced by innovative startups and creative entrepreneurs.
Speaking of the relevance of DBIN, Dubai SME CEO Abdul Basit Al Janahi commented that Dubai already enjoys the reputation of being the region’s largest business incubator and the preferred destination for the most innovative projects. “Dubai is also unique in promoting economic development, encouraging investment and supporting the growth of start-ups. Dubai’s infrastructure and its willingness to learn from regional and global best practices, as well as its focus on stimulating innovation and entrepreneurship, will be of great importance to incubators and Accelerator’s certification program and its performance have a positive impact.”
Al Janahi also mentioned the role of Dubai Next, which is the first digital platform launched by His Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Committee, to attract Crowdfunding enters creative and innovative projects.
Dubai Next is affiliated with Dubai SMEs and is a comprehensive digital platform that allows young people of all ethnicities in Dubai to showcase their creativity and ambitious projects in order to raise the funds they need through crowdfunding. The platform provides an easy-to-obtain financing and investment option for most people and entrepreneurs in society, and also provides an ideal choice for students to develop their entrepreneurial ideas.
Those who can obtain financing on Dubai Next can incubate their projects at the Hamdan Innovation Incubator (HI2) for SMEs in Dubai or any of Dubai’s 13 certified business incubators, which provide various services, packages and activities To support a suitable working environment for local entrepreneurs.
“In view of the current trend of creating incubators that focus on the quality of specific industries and projects, the concept of business incubators in the country will undergo a qualitative change this year. The Dubai Expo will also help attract many entrepreneurs and start-ups to join these certified incubators. Potential partnerships and participation between local incubators and Expo participants will also help develop networks and transfer global expertise and experience,” Al Janahi added.
The certification program of business incubators and accelerators is consistent with the support, guidance and follow-up provided by Dubai SMEs to Dubai’s emerging SMEs. This certification is the starting point for entrepreneurs and start-ups and connects them with innovative solutions to help them thrive in local and regional markets while adding value to the economy of Dubai and the UAE.
The Dubai Business Incubator Network currently has 13 professional business incubators launched and certified in cooperation with Dubai’s private sector and educational institutions. The accreditation of educational institution incubators is in line with the 50-year charter of His Highness Sheikh Mohammed bin Rashid Al Maktoum, which aims to transform universities into free economic and creative zones to encourage innovation and entrepreneurship.
The 13 incubators that have been certified to date serve multiple professional fields, including:
Digital technology and robotics
Business incubators in this field focus on the establishment and development of digital technology emerging companies, and also provide a number of services for novice entrepreneurs in the information technology (IT) field. It also provides professional training on basic skills related to the digital industry, such as digital marketing, programming, data science (big data), software design, and business development.
To date, Dubai’s recognized business incubators in the field of digital technology and robotics include The Co-Dubai; Kind incubator supported by Astrolabs; Advance-Higher Institute of Technology (HCT); startup; and one of the American University of Dubai (AUD)
design
Business incubators in the design field provide creators, designers and entrepreneurs with a comprehensive platform. In addition to business creative development plans in the fields of interior design, graphic design, furniture, product design and support, they also provide them with a package of professional business development. Serving the fields of photography, 3D printing, animation, etc. Reply: Urban Studio in Dubai is the first business incubator certified in the design field.
Sustainability of energy, water, building materials, transportation and waste management
The Bidayat business incubator for sustainable cities is the first professional incubator in this field. It is the first fully operational sustainable community in the Middle East, providing a smart ecosystem for creative entrepreneurs who believe in making cities more livable. Sustainable project owners and startups in this incubator gain experience and have the opportunity to contact the competent authorities Develop a sustainable society. Therefore, SMEs in Dubai can participate in the sustainable development process and test their green initiatives in sustainable cities. In addition, the incubator provides the opportunity to research and experiment with ideas before applying them to ensure their effectiveness and success.
retail
The retail business incubator aims to develop innovative brands and adopt and invest in UAE projects in the fields of fashion, jewelry, cosmetics, accessories, perfumes, shoes and other luxury goods designed and manufactured by Emirati and Arabs. The incubator will help initiate these projects and enable them to grow and develop on a regional and global scale. TALG (Arab Luxury Goods Group) is the first professional business incubator in this field.
Investment and emerging projects
Dubai SMEs collaborated with Dubai’s British Business Centre (BCB) to launch a dedicated business incubator for innovative British projects. The new incubator and partnership between Dubai SMEs and BCB will help strengthen Dubai’s position as a regional and international investment and entrepreneurial destination. It also highlighted Dubai’s attractiveness, competitiveness and advantages in terms of its business environment, legislative framework and infrastructure. The new business incubator provides support and expansion for British SMEs seeking innovation in emerging areas such as information technology, e-commerce, digital economy, digital marketing, operations and logistics, and intelligent applications.
Incubator for other sectors supporting innovation
Incubators are recognized in many other areas to promote entrepreneurship and innovation, and to enable creative entrepreneurs to transform their ideas into outstanding projects that serve the sustainable development process in Dubai. It helps to build a knowledge-based and innovation-focused economy, thereby enhancing the emirate’s local and regional economic status, and facilitating the process of reaching more young entrepreneurs. The incubator also provides entrepreneurs with the education and training they need, as well as the tools needed to establish a successful business in Dubai and expand to other regions. Co-Dubai and Forward-Higher Colleges of Technology (HCT) are recognized business incubators in this field.
University-level incubator
According to Article 6 of the 50-year charter of His Highness Mohammed bin Rashid Al Maktoum, many business incubators and accelerators in the Dubai Higher Education Centre have been certified, aiming to transform national and private universities into encouraging students The free economy and creative zone innovate and grow as entrepreneurs. These incubators represent a qualitative initiative in the UAE to develop the infrastructure of educational institutions, encourage young talents to think creatively and innovatively, provide necessary support to young people in the early stages of entrepreneurship, and guide them into the future economic field in accordance with the strategic direction. The Higher Institute of Technology, Amity University and the American University of Dubai have certified business incubators, and Dubai SMEs have also received many applications from similar institutions.
School-level incubator
The launch of the school-level incubator was largely inspired by the “Young Entrepreneurs” competition held by SMEs in Dubai in the past 15 years, aiming to provide the younger generation with opportunities to participate in the entrepreneurial world. Schools bring social or school challenges to students and encourage them to find innovative solutions to solve these challenges. In addition, the school will hold multiple competitions throughout the year to select the best projects, and then nominate them to participate in the “Young Entrepreneurs” competition later. GEMS Modern Academy-Nad Al Sheba has the first certified school-level business incubator in Dubai.
Business incubators are located in many regions of the Emirate of Dubai, the most important of which are: Downtown Dubai – Burj Khalifa – Business Bay – Dubai Design District – Courtyard Al Quoz – Dubai Academic City – Sustainable City – Nad Al Sheba – Deira – Al Sufouh – Dubai Medical City
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