Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has announced the licensing 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 ‘Re: Urban Studio’ business incubator in the Dubai Design District (d3), an integrated platform providing a range of specialised business and creativity development services to innovators, designers and entrepreneurs.
Commented His Excellency Sami Al Qamzi, Director General, DED: “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.”
HE Abdul Baset Al Janahi, CEO of Dubai SME, also emphasized 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 the UAE Vision 2021 and Industry 4.0.
“We are proud to have licensed 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.”
‘Re; Urban Studio’ will offer workshops, training courses and mentoring programmes to support beginners in the field of business innovation, specifically on the business aspect, and also provide an innovative work environment and offices that connect creative entrepreneurs and freelancers.
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 licensing support and an open work space that welcomes creative individuals to operate out of the Dubai Design District.
Through the ‘Incubators and Business Accelerators’ regulations Dubai SME aims to invite and expand investments into business incubators, accelerators and joint workspaces. The initiative is a first step towards establishing the Dubai Business Incubator Network (DBIN), which will act as a resource to help, encourage and deliver best practices for business incubator programmes in the UAE.