By Jessica Combes / CPI Financial
‘The Co-working Popup,’ follows new regulations on incubators and business accelerators introduced by Dubai SME.
Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, marked the opening of ‘The Co-working Popup,’ the latest business incubator to come on stream in the emirate following the introduction of the new regulations for ‘Incubators and Business Accelerators earlier this year. Abdul Baset Al Janahi, CEO of Mohammed Bin Rashid Establishment for SME Development, and Sheikh Khalid Al Qassimi, the entrepreneurs behind the new incubator, attended the opening of the new facility at Downtown Dubai.
The new regulations introduced by Dubai SME seek to provide support, guidance and follow-up to SMEs, enable business incubators and accelerators to promote investment in fourth generation technologies in Dubai, and create an ideal environment for entrepreneurial startups.
‘The Co-working Popup’ is an integrated business incubator, offering business development programmes, a membership-based business space for entrepreneurs who want to establish their own creative enterprises, and a close space for start-ups to incubate their businesses. The facility offers workshops and training courses to support beginners in business innovation and guide them through the necessary advisory and mentoring so that they can understand and overcome varied business challenges.
"We are pleased to inaugurate the latest business incubator in Dubai, particularly since it comes as part of our strategy to provide an innovative entrepreneurship support platform and empower entrepreneurs and enterprises to transform their ideas into projects that contribute towards sustainable development and achieving a knowledge economy based on the concepts of creativity and innovation, thereby enhancing the emirate's economic position regionally and internationally,” said Al Janahi.
Al Janahi added that Dubai SME will continue to provide all possible support for the development and sustainability of entrepreneurship in Dubai in line with the objectives of the UAE Vision 2021 and the requirements of the Industry 4.0.
Sheikh Khalid Al Qassimi said: “We are excited and grateful to be trusted to support and grow the startup sector within Dubai. We aim to support the entrepreneurs in all aspects of their business by ensuring they have the right education and facilities to create successful businesses to showcase Dubai as a startup hub for the world.”
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.