The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), one of the agencies of the Department of Economy and Tourism (DET) in Dubai, has announced the launch of ‘Concept +,’ a new business incubator focusing on digital technology and supporting young people to develop their creative ideas into successful projects.
From attracting innovative ideas in emerging technologies and sectors to incubating them into commercially viable projects and guiding them through early-stage challenges, Concept + will provide a full range of support, including feasibility studies, legal and development consultancy, training and employment, co-working spaces, as well as access to investors, service providers, and partners, till the project attains the maturity to sustain growth.
The latest addition to the Dubai Business Incubator Network (DBIN) of business incubators and accelerators certified by Dubai SME, Concept + seeks to encourage young entrepreneurs unleash their creativity and reach their full potential. Tenants in the incubator will also receive marketing consultancy and support, including specialised spaces within the incubator to test-market products, and access to online as well as physical stores.
Welcoming Concept + to DBIN, Abdul Baset Al Janahi, CEO of Dubai SME praised the role of specialized business incubators and the private sector in supporting the economy and developing a new system that meets the needs of the next phase of entrepreneurship
“As a critical partner and chief engine driving commercial activity in Dubai, the private sector should continue to strengthen its role in overall economic development. Particularly in developing small and medium enterprises, the public and private sectors need to be aligned in unlocking opportunities for innovative enterprise through facilitating access to new markets and financing,”
said Al Janahi.
“The government is developing systems and frameworks to promote start-ups and alternative financing options, like crowdfunding. Creating new business opportunities and directing entrepreneurial talent to emerging sectors are particularly important as the UAE seeks to build a prosperous future for its young generations through investing in humans as well as in advanced science and technology,”
Al Janahi added
Referring to the contribution of start-ups to the gross domestic product and job creation in Dubai Al Janahi said these companies have gained global prominence during the past decade on the back of a number of prominent acquisitions, thus further consolidating Dubai's position as a hub for innovation and knowledge in the region.
Mohammed Al-Mansoori, founder of Concept +, said:
"Concept Plus is proud to be a part of the Dubai Business Incubator Network as we believe in the potential of our younger generations in making a difference in the world of entrepreneurship. At Concept Plus, we strive to nurture creative minds and build a community that is passionate about a brighter future, and our competent team can help them to navigate the challenges of entrepreneurship. We believe that co-creation is the secret recipe for success.”
Al-Mansoori said Concept + will provide the full range of services required by startups for a successful business journey.
“Through our in-house services and our strategic partners, we provide all the services that any company would require to thrive in the UAE and the global market, whether it is commercial support, technical support, marketing support or financial support.”
Concept + joins 15 other certified business incubators and accelerators in the Dubai Business Incubator Network. The incubators in the network provide a variety of services, packages and events that support entrepreneurs operate in a conducive environment, in addition to specialised labs for innovators to design, develop and test-bed their prototypes before launching them as projects. DBIN also acts as a reference and catalyst for business incubation programmes in the country, also motivating and supporting the private sector to invest in business incubators and accelerators.
Concept + will enable entrepreneurs in adapting and reshaping their strategy to the post-COVID phase and assist them in focusing on sectors that showed remarkable resilience during the pandemic, particularly advanced technologies critical to digital transformation and future economy.
News Source: Dubai Media Office