Dubai SME, the Dubai Economy agency assigned with strengthening the small and medium company (SME) sector has collaborated with the American University in Dubai (AUD), to launch a new business incubator to its growing network of approved business incubators and accelerators.
The new business incubator at AUD symbolizes the 50-year vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to build free economic and creative zones across Dubai’s institutions to foster student innovation and entrepreneurship.
The initiative is a part of Dubai SME’s strategy to accredit business incubators and accelerators to provide a stimulating environment for creative entrepreneurs. University incubators will focus on worldwide best practices to stimulate the spirit of innovation, while students will have access to a variety of resources, such as communal workspaces and financial incentives to help them launch their projects.
Abdul Baset Al Janahi, CEO of Dubai SME said that these incubators will produce a generation that will be well aware of the skills and technologies required for the UAE’s long-term development and the future economy of Dubai. Dubai SME is positive that the accreditation program will equip students with the finest tools to succeed, based on its extensive expertise in numerous areas of entrepreneurship development.
Mr. Al Janahi further added that most of the projects 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.
Dr. David A. Schmidt, AUD President stated that “We are thrilled to have recognized accelerators and business incubators and to join the Dubai Network for Business Incubators under the umbrella of Dubai SME.
The AUD President added that with the official accreditation of AUD by Dubai SME’s recognized Incubator network, the AUD Entrepreneurship and Innovation Centre (AEIC), led by Dr. Sunitha Kshatriya, will achieve another leap ahead.