Dubai SME launches first free zone business incubator in Amity University

By Rahul Vaimal, Associate Editor
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Dubai SME
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An agency of Dubai Economy designated to promote the small and medium enterprise (SME) sector, Dubai SME has launched the first certified free zone business incubator in Amity University Dubai.

The new facility, launched under the Dubai SME University Incubators Program with the aim of promoting innovation and entrepreneurship, will further contribute to the transformation of national and private universities into independent financial and creative zones.

The ‘Ideas To Action’ at the Amity University reflects on the long experience of Dubai SME in entrepreneurship expansion and its status as the authority for accrediting business incubators and accelerators in Dubai. The accreditation program aimed to control business incubators and accelerators invested in fourth-generation technologies in the emirates and to ensure that they contribute young entrepreneurs with the best tools to carry out their innovative ventures.

Sami Al Qamzi, Dubai Economy UAE
Sami Al Qamzi,
Director General
Dubai Economy

“Business incubators accredited by Dubai SME reflect its strategy, specifically in developing the business environment in Dubai. Dubai SME seeks to provide an ideal platform that promotes entrepreneurship and embraces innovators and entrepreneurs with creative ideas, enabling them to transform their ideas into distinct projects that serve the sustainable development process. The accredited business incubators and accelerators enable to reach out to the largest segment of young entrepreneurs across various sectors and support the efforts to build a knowledge economy based on creativity and innovation, thus strengthening Dubai as a competitive economy, locally and regionally.”

The university-level incubators represent a qualitative initiative to improve educational institutions’ infrastructure to involve and inspire young talent to think innovatively and to join the field of entrepreneurship at an early age. It gives them start-up support and leads them to the most promising sectors of the economy in the UAE.

Abdul Baset Al Janahi, CEO of Dubai SME stated, “We are pleased to witness the launch of the ‘Ideas To Action’ business incubator and welcome it as the first certified free zone business incubator in the Dubai Business Incubator Network (DBIN). Such incubators help create a promising generation of entrepreneurs and those interested in the SME sector. Dubai SME, in coordination with universities, will provide integrated mechanisms to empower the youth, help them develop their ideas and entrepreneurial talent, and support them to explore business opportunities, thus paving the way for varied and innovative start-up companies, which will undoubtedly add value to the GDP of Dubai and the UAE in general.”

“The partnerships we develop demonstrate our commitment to developing an integrated ecosystem that serves entrepreneurs and SME owners. It enables us to support the national agenda of building a new generation of innovators to shape and anticipate the future, create an environment that keeps pace with future, and encourage students to evolve into entrepreneurs instead of job seekers,” added Mr. Al Janahi.

Mr. Al Janahi stressed the need for new opportunities for students to pursue entrepreneurship in sectors that are unconventional and rapidly emerging, such as artificial intelligence, space science, machine learning, robotics, digitalization, biotechnology and the Internet of Things (IoT).

Dr. Vajahat Hussain, CEO, Amity Education ME, said: “With education at the core of UAE’s National Agenda for Vision 2021, our partnership with Dubai SME signifies our commitment to ensuring that students develop the key competencies required to succeed in any industry or when building a business. Creating unique opportunities for our students, while ensuring that they contribute to the country, society and humanity is our goal as an education provider. Dubai Future Foundation’s University Entrepreneurship Programme is also a unique and pivotal step towards inspiring a future generation of innovators and leaders.”