Hamdan launches Dubai Next crowdfund platform

Eudore R. Chand

DUBAI 20 May 2021: Dubai Next, an integrated digital platform that allows ambitious youth and innovators from diverse nationalities in Dubai to secure the required funding to launch their projects, was launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

He said that the small and medium enterprise (SME) sector is a key pillar of the national economy, and that the UAE continues to give increasing attention to the sector through initiatives and programmes launched to support entrepreneurship in the city.

Crowdfunding is the use of small amounts of capital from individuals to finance a new business venture. With the use of digital technologies, aspiring entrepreneurs can now present their ideas and projects to a larger segment of the community locally and globally, and obtain direct financing or support in marketing the idea.

H.H. praised the Mohammed Bin Rashid Establishment for SME Development (Dubai SME), the agency of Dubai Economy mandated to develop the SME sector, for its role in strengthening the UAE’s status as a leading pioneer in promoting entrepreneurship. Trade is an essential component of the national economy and part of the social and cultural heritage of the UAE, Sheikh Hamdan said, noting that the UAE has always been keen to provide youth with incentives to launch their own businesses as an alternative to working in traditional jobs, said Wam.

Since its launch in 2002, Dubai SME has continued to provide vital support and guidance to SMEs and emerging companies, while also introducing youth to entrepreneurial opportunities, new trends and tools in order to create a successful enterprise.

The launch of the initiative is also part of several efforts taken to support the growth of SMEs. A series of economic incentives and policies were introduced in the last few months that benefited many startups.

The platform enables emerging enterprises to grow, expand and launch new products. Dubai SME provides a package of incentives for those who obtain financing on Dubai Next. The package includes incubating the idea in the Hamdan Innovation Incubator (HI2) or in one of the 14 certified incubators in Dubai.

The incubators provide varied services and packages as well as an ideal work environment, effectively contributing to launching innovative projects and supporting them to successfully compete in the local market and expand globally.

For more details on Dubai Next and to pitch for crowdfunding on the digital platform, visit www.dubainext.ae.

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