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Dubai SME, the Dubai economic agency responsible for the development of the SME sector, has announced the launch of its latest certified business incubator at BITS Pilani University in Dubai International Academic City. The new facility will contribute to the strategic efforts of Dubai’s SMEs to transform Dubai’s national and private universities into free economic and creative districts, just like His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Vice President As envisaged in Article 6 of the Fifty Years Charter. Prime Minister of the UAE and Chief of Dubai.
The new business incubator aims to provide students with opportunities to transform their ideas and inventions into successful companies in various economic fields, and cultivate their creativity and innovative thinking from an early age.
Students enrolled in the business incubator will also be able to benefit from “Dubai Next”, Dubai’s first comprehensive digital platform for creatives of all nationalities, through crowdfunding to express their ideas and attract needed funds.
Abdul Baset Al Janahi, CEO of Dubai SMEs, Said: “Since Dubai SMEs have assumed the responsibility of leading innovation and entrepreneurship in the Emirate of Dubai, we have been researching strategies to support entrepreneurial journeys, promoting creative thinking, developing innovative products, and solving the challenges faced by pioneering ideas. And projects.”
Dubai SMEs launched a business incubator and accelerator certification program in 2017 to provide further support for innovative entrepreneurs and provide more investment opportunities for cultivating business leaders in different industries through monitoring, guidance and shared workspaces.
BITS Pilani Dubai has also become part of the Dubai Business Incubator Network (DBIN) supervised by Dubai SMEs to coordinate the implementation of ideas and initiatives initiated within the network. The network is also used to formulate policies and operational plans, evaluate proposals and opportunities to support Dubai entrepreneurs, and collaborate with governments, private entities and educational institutions to promote start-ups.
Currently, the network has 15 business incubators, each of which focuses on different fields such as digital technology and robotics; design; sustainability of energy, water, construction, transportation and waste management; retail; investment and emerging projects, And other forms of innovation, as well as incubators recognized by higher education institutions and schools in Dubai.
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, recognized business incubators in the field of digital technology and robotics in Dubai 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) Place
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, it also provides 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 start-ups in this incubator can gain experience and get in touch with competent authorities Opportunities to 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 an 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 the British Business Centre (BCB) in Dubai 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 enable creative entrepreneurs to transform their ideas into outstanding projects that serve the sustainable development process of 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 required education and training, 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
These incubators represent a qualitative measure to develop the infrastructure of educational institutions, encourage young talents to carry out creative and innovative thinking, provide necessary support for young people in the early stage of entrepreneurship, and guide them into the future economic field according to the strategic direction. United Arab Emirates. In addition to BITS Pilani, the Higher Institute of Technology, Amity University and the American University of Dubai have recognized business incubators, and SMEs in Dubai have also received applications from many 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 motivate them to find innovative solutions to solve these challenges. In addition, the school will hold a number of competitions throughout the year to select the best projects, and then nominate them to participate in the “Young Entrepreneur” competition later. GEMS Modern Academy-Nad Al Sheba has the first certified school-level business incubator in Dubai.
Al Janahi stated that the high demand for certification to join DBIN confirms the success of the program in finding opportunities and support for entrepreneurs. The plan helps to stimulate innovation and entrepreneurship, encourages the adoption of modern technologies in important and emerging fields, and prepares young people for the future through entrepreneurship.
“We are proud to work with BITS Pilani Dubai to support aspiring talent. Cooperation between government agencies and academic institutions is essential to shaping entrepreneurial talent in accordance with the best practices for fostering innovation globally,” Al Janahi added.
Professor Srinivasan Madapusi, Director of BITS Pilani Dubai, Said that universities need to prepare students for the market by providing practical training in technical and non-technical skills. Entrepreneurship skills are becoming more and more important not only for those interested in start-ups, but also for companies and industry sectors. He added that BITS Pilani and its vibrant entrepreneurial ecosystem are in line with the UAE government’s vision to encourage innovation and student entrepreneurship.
“Our Innovation, Incubation and Entrepreneurship Center encourages students to think creatively and encourage them to devote themselves to innovative ideas. Over the years, we have offered courses in entrepreneurship, new ventures, business communication and entrepreneurship minors to cultivate successful entrepreneurs. Therefore, BITS Pilani’s alumni have been at the forefront of creating wealth through start-ups,” said Professor Srinivasan.
“Today, our entrepreneurial ecosystem is moving forward by partnering with Dubai SMEs to become a certified business incubator and joining the Dubai business incubator network. This partnership will support students to obtain mentors, business experts, and legal advisors. The transformation of universities into entrepreneurial centers creates new opportunities for our student entrepreneurs and makes significant contributions to the intellectual capital and wealth of Dubai and the UAE,” Professor Srinivasan concluded.
Established in 2000, BITS Pilani Dubai is the only international branch of the Birla Institute of Technology and Science, the prestigious and highest-ranked private university in India. The university also cooperated with QS to obtain a 5-star rating from the Dubai Knowledge and Human Development Authority (KHDA) based on the four core categories of research, employment, teaching and internationalization. BITS Pilani Dubai is ranked in the top 100 in the QS BRICS University Rankings and also in the top 200 in the QS Asian University 2021 Asian University Rankings.
More than 5,000 students graduated from the Dubai campus. They either work in leading global companies such as Microsoft, Oracle, Siemens, L&T, Emirates, Honeywell, Petrofac, and Schlumberger, or are studying for graduate studies at leading universities, including Harvard University , Stanford University, Massachusetts Institute of Technology, Cornell University, Monash University and National University of Singapore. Alumni of BITS Pilani Dubai have also become outstanding entrepreneurs, with more than 20 start-up companies this year.
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