Dubai SME, recently held the first meeting of the Dubai Business Incubator Network (DBIN) of its certified business incubators and accelerators.
DBIN aims to accelerate the economic activity in the UAE, particularly in Dubai, by establishing new facilities capable of providing promising investment opportunities that contribute to strengthening the national economy and creating more job opportunities.
The network will act as a reference and catalyst for business incubation programmes in the country, as well as motivate and support the private sector to invest in business incubators and accelerators.
DBIN has set out to support and promote business incubators and accelerators in Dubai through enable the exchange of information and practical experiences among the businesses and between their clients and relevant authorities.
The first meeting of DBIN involved discussions between member incubators and accelerators where they presented their experiences in effective entrepreneurial approach, success stories and pioneering initiatives that enabled hundreds of young people to launch their start-ups. Unique experiences and best practices among incubators locally and internationally were also highlighted at the meeting.
Mechanisms to strengthen the role of DBIN and scope for participation in Dubai SME initiatives as well as challenges and opportunities ahead for innovative startups and creative entrepreneurs were also discussed at the meeting.
Abdul Basit Al Janahi, CEO of Dubai SME, commented,
“Dubai also stands apart in promoting economic development, encouraging investments and supporting startup growth. The infrastructure in Dubai and its willingness to learn from regional and global best practices, along with the focus on stimulating innovation and entrepreneurship, will positively reflect on the accreditation programme for incubators and accelerators and their performance.”
Al Janahi also mentioned the role of Dubai Next, a state-of-the-art digital platform launched to attract crowdfunding into creative ideas and innovative projects.
Dubai Next, affiliated to Dubai SME, is an integrated digital platform that enables young people of all nationalities in Dubai to present their creative ideas and ambitious projects in order to raise the capital required through crowdfunding. An easily accessible financing and investment option for a large segment of the society and entrepreneurs the platform also provides the ideal choice for students to develop their entrepreneurial ideas.
Those who are able to obtain financing on Dubai Next can incubate their project at the Hamdan Innovation Incubator (HI2) in Dubai SME or any of the 13 certified business incubators in Dubai, which provide a variety of services, packages and events that support entrepreneurs within the appropriate work environment.
Al Janahi also stated,
“This year will witness a qualitative shift in the concept of business incubators in the country, given the current trend towards creating incubators focusing on specific sectors and project quality. The Expo in Dubai will also contribute to attracting a number of entrepreneurs and start-ups to join these certified incubators. Potential partnerships and engagement between local incubators and those participating in the Expo will also contribute to developing the network and the transfer of global expertise and experiences,”
The accreditation programme for business incubators and accelerators is aligned to the support, guidance and follow-up provided by Dubai SME to emerging SMEs in Dubai. The accreditation serves as a starting point for entrepreneurs and start-ups and connects them to innovative solutions that help them thrive in the local and regional markets while adding value to the economy in Dubai and the UAE.
The Dubai Business Incubator Network has currently established 13 specialised business incubators and they are accredited in cooperation with the private sector and educational institutions in Dubai. The accreditation of incubators in educational institutions is aligned to the 50-Year Charter of HH Sheikh Mohammed bin Rashid Al Maktoum, which seeks to transform universities into free economic and creative zones to encourage innovation and entrepreneurship.
