Dubai SME opens first facility licenced under new guidelines for business incubators


DUBAI, 20th May, 2018 (WAM) -- Dubai SME, the agency of the Department of Economic Development, DED, located in Dubai and mandated to develop the small and medium enterprise, SME, sector, has announced the licencing of the first business incubator in Dubai, following the introduction of the "Incubators and Business Accelerators" regulations.

The regulations were introduced to ensure necessary guidance and mentoring support to SMEs, streamline the functioning of business incubators and accelerators, as well as create an exemplary environment for creative entrepreneurs.

Dubai SME also marked the opening of the "Re: Urban Studio" business incubator in the Dubai Design District, d3. It is an integrated platform providing a range of specialised business and creativity development services to innovators, designers and entrepreneurs.

Regarding the opening, Sami Al Qamzi, Director-General of DED, said, "The opening of ‘Re: Urban Studio’ stems from the strategy of Dubai SME to provide an ideal platform to promote entrepreneurial innovations by enabling creative entrepreneurs to chase their dreams and transform their ideas into distinct projects that support sustainable development and contribute to building a knowledge economy in Dubai, thereby strengthening the emirate's economic status locally and regionally."

Abdul Baset Al Janahi, CEO of Dubai SME, also emphasised the priority given by Dubai SME to developing and sustaining the business sector in Dubai and promoting innovation towards building a knowledge-based economy, in line with the UAE Vision 2021 and Industry 4.0.

"We are proud to have licenced the first business incubator in Dubai as part of the new regulations introduced by Dubai SME, and we are confident that this will be the starting point for an integrated business system that will see SMEs specialised in fourth generation technologies and creative projects emerging in the area, thus achieving the goals set by the country for the industry, as well as the future," he said.

Fatima Al Mazrouei, Founder of Re: Urban Studio, added, "Dubai seeks to create an integrated entrepreneurial environment and system in all fields and levels, a role that is not limited to government entities, but also involves the private sector. We support the lead taken by Dubai SME in Dubai, particularly, and the Gulf region, in general, in supporting emerging enterprises. The granting of a business incubator licence to the private sector is a significant sign of promoting flexibility and innovation in business incubation."

Masha'el Al Ali, Executive Director of ‘Re: Urban Studio’, said that the incubator will provide a full programme for developing business ideas, as well as new companies, in the field of design and innovation, the first of which was set for launch in September 2018. The incubator will also provide complementary services, such as licencing support and an open workspace that welcomes creative individuals to operate out of d3.

"Our services include design in all its forms, especially in the fields of architecture, interior design, graphic design, furniture and product design and other areas, such as 3D photography and animation," he added.

WAM/MOHD AAMIR