Dubai SME opens first facility under new guidelines for incubators

By Jessica Combes / CPI Financial

SOURCE : CPI Financial - Dubai SME opens first facility under new guidelines for incubators

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. 

"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,” said HE Sami Al Qamzi, Director General, DED. 

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.