Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has added a new business incubator to its expanding network of certified business incubators and accelerators in association with the American University in Dubai (AUD).
The new incubator at AUD embodies the vision laid down in the 50 Year Charter of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to establish free economic and creative zones across universities in Dubai, to encourage innovation and entrepreneurship among students.
Dubai SME launched the initiative to accredit business incubators and accelerators to promote a stimulating environment for creative entrepreneurs and ensure the required support for then to turn their innovative ideas into pioneering projects.
Abdul Baset Al Janahi, CEO of Dubai SME, said: “Business incubators in universities will strengthen youth orientation towards entrepreneurship and support them in launching entrepreneurial projects in varied sectors.
“Eventually, these incubators will produce a generation that is well aware of the techniques and tools needed for the sustainable development process in the UAE and the future economy in Dubai. Such initiatives are critical to enabling younger generations and entrepreneurs to achieve professional competencies and emerge as business leaders of the future.”
The business incubators in universities will focus on the best practices followed globally to encourage the spirit of innovation, while students can benefit from varied facilities, including common work spaces and incentives to launch their projects.
Al Janahi added: “Dubai SME, with its vast experience in various disciplines of entrepreneurship development, is confident that the accreditation programme will provide students with the best tools to develop their projects.”
“Most of the projects being incubated in the certified facilities are related to innovative products and services based on advanced technology and involve diverse sectors, including renewable energy, digital technology, marketing, e-commerce and sustainable energy, in addition to a number of commercial activities of importance to the local market.”
Dr David A Schmidt, AUD President, added: “We are pleased to have accredited accelerators and business incubators, and, to join the Dubai Network for Business Incubators under the umbrella of Dubai SME.
“AUD always strives to improve our educational programmes and keep pace with students’ needs by supporting pioneering and innovative ideas. By incubating these projects and providing the appropriate environment, we ensure the building of a new generation of creative graduates who are cognitively and innovatively qualified to create and anticipate the future.”
Dr Schmidt added that with AUD’s official recognition as part of the Dubai SME’s certified Incubator network, the AUD Entrepreneurship and Innovation Centre (AEIC), under the direction of Dr Sunitha Kshatriya, takes another leap forward.
