Milestone follows the introduction of the Incubators and Business Accelerators regulations in the emirate
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.
The milestone follows the introduction of the Incubators and Business Accelerators regulations which were introduced to ensure necessary guidance and mentoring support to SMEs and streamline the functioning of business incubators and accelerators.
The regulations are 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.
Dubai SME also marked the opening of the 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.
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.”
Abdul Baset Al Janahi, CEO of Dubai SME, added: "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.
Fatima Al Mazrouei, founder of Re: Urban Studio. said: “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.”