Dubai Economy’s dedicated agency for the support of the Small and Medium enterprise (SME) sector, Dubai SME has launched a new business incubator ‘Ztartup,’ in Dubai Healthcare City.
The new incubator, located in Wafi Residences, is dedicated to healthcare technology, including digital media and Augmented & Virtual Reality used in healthcare, as well as digital emergency and safety technology. The center will also assist entrepreneurs in developing and improving smartphone applications for the healthcare and fintech industries.
According to the company statement, the new incubator offers two specialized programs, one for business incubators and another for business accelerators. The Incubator will evaluate the enterprises and the entrepreneurs’ skills and assist them in selecting the best program for them to start and launch their businesses.
Furthermore, the incubator provides a variety of other services, such as connecting entrepreneurs to a network of specialists and mentors to assist in the development of their products and services, as well as a variety of courses, training, workspaces, business start-up packages required in each phase of the project, and several specialized laboratories that assist entrepreneurs in designing prototypes for their projects.
“There should be balanced support from the public as well as private sectors to enhance the role of small and medium enterprises, create new market opportunities start-ups, open diverse financing channels for entrepreneurs with innovative ideas, and formulate systems and laws for crowdfunding. The private sector plays a major role in supporting start-ups through its community initiatives, which contributes to accelerating economic growth rate.”
Mohamed Shafi, CEO, and Founder of Ztartup said, “Our aim is to develop a new ecosystem that supports tech entrepreneurs. The impact of this new system will be seen on future businesses, technical skills of entrepreneurs, and overall economic growth in the UAE.”
“Ztartup seeks to incorporate entrepreneurial initiatives into incubation programs and business accelerators to ensure their success and sustainability. Ztartup will also connect them to experts who can assist them to advance their tech innovations,” Mr. Shafi added.
Ztartup brings the number of business incubators certified by Dubai SME to 13. Dubai SME has also established a Business Incubator Network (DBIN) of accredited business incubators and accelerators, which will serve as a resource and a catalyst for business incubation programs throughout the country.