Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, in association with the American University in Dubai (AUD), has added a new business incubator to its expanding network of certified business incubators and accelerators. 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 and Prime Minister of the UAE 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. The university incubators thus certified, provide an educational environment that incubate ideas and instill competencies that will contribute to successful project management and growth in industries and vital sectors in the UAE.

Abdul Baset Al Janahi, CEO of Dubai SME commented:“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 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.”

Al Janahi added that instilling a culture of entrepreneurship among university students and inspiring them to be creative, responsible and ambitious leaders is essential to maintaining the advanced position of the UAE across global indicators in ease of doing business. Dubai SME also encourages businessmen and large companies to support youth and adopt their entrepreneurial projects.

The certified incubator in AUD joins similar facilities launched earlier in the Higher Colleges of Technology and the Amity University in Dubai and these incubators serve a number of specialized sectors, including digital technology and robotics, design, and innovations in sustainability of energy, water, building materials, transportation and waste treatment. Specialised business incubators are being certified in schools in Dubai too.

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.

Dubai SME is not only authorised to accredit business incubators and accelerators in Dubai but also plays a major role in streamlining the functions of incubators and accelerators invested in fourth generation technologies. Al Janahi said “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.”

Al Janahi added that 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, President of The American University in Dubai, said: “We are pleased today to have accredited accelerators and business incubators, and, to join the Dubai Network for Business Incubators under the umbrella of Dubai SME. We affirm our commitment to supporting the development of the education sector and promoting the concept of entrepreneurship among our students. 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.  We are graduating entrepreneurs and knowledge ambassadors instead of just job seekers.”

President Schmidt pointed to the importance of providing new opportunities for younger generations to enter into non-traditional entrepreneurship projects to keep pace with the rapid development in new fields such as artificial intelligence, robotics, digitisation, biotechnology, and others.

Dr. Schmidt added that with AUD’s official recognition as part of the Dubai SME’s certified Incubator network, the AUD Entrepreneurship & Innovation Center (AEIC), under the direction of Dr. Sunitha Kshatriya, takes another leap forward. “Honoured to be part of this network and thankful for the collaborative support and leadership of HE Sami Al Qamzi, Director General of Dubai Economy, and HE Abdul Basit Al-Janahi, CEO of Dubai SME, and the invaluable guidance and support of Mr. Abdulaziz Al Mazmi, Director of Business Incubators at Dubai SME, AEIC embraces and promotes the mission and goal to serve our students and enable their ambition.”

Dubai SME, through certifying business incubators and accelerators, seeks to provide an opportunity to expand investments in diverse disciplines of the entrepreneurial domain including business incubators, accelerators, and co-working spaces.

Dubai SME has also established a Business Incubator Network (DBIN) of its accredited business incubators and accelerators, which provides varied services, membership packages, workshops, training courses, and co-working spaces at competitive prices for entrepreneurs, in addition to a number of packages and services that emerging projects need during the various stages of their life cycle. DBIN 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.