"Mohammed bin Rashid for Project Development" Launches a new accelerator to support startups
DUBAI, 22nd October, 2018 (WAM) – The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, one of the institutions of the Department of Economy and Tourism in Dubai, today launched the Business Accelerator Program in cooperation with the global innovation company “Plug and Play”.
The new program aims to expand the scope of work of emerging companies owned by Emiratis, by providing them with the tools, expertise, knowledge networks, and relationships necessary to achieve success in the local market, expand globally, and attract sustainable investments, which enhances their contributions to economic diversification efforts and supports the long-term growth of the Emirate of Dubai.
The program focuses on technology-driven projects and businesses, providing them with customized mentoring services, supporting global outreach, and enhancing market access, giving participants the opportunity to improve operations and accelerate the adoption of their innovative solutions by government and private sector partners.
The launch of this program reflects Dubai’s commitment to achieving the ambitious goals of the Dubai Economic Agenda “D33”, which seeks to double the size of the emirate’s economy by 2033, in addition to supporting efforts aimed at making Dubai the most attractive global center for small and medium-sized companies and local entrepreneurs.
The program is managed by the “Plug and Play” company, as part of a series of events and workshops held within the framework of the “Dubai Entrepreneurs’ Headquarters” initiative, which was launched by the Department of Economy and Tourism in Dubai at the beginning of this month, in cooperation with the Dubai Chamber for the Digital Economy, with the aim of unifying and strengthening the ecosystem of emerging, small and medium-sized companies in the emirate.
Participating startups will benefit from the range of services and support provided by the initiative, including access to the headquarters within the “25 Hours” Hotel in the “One Central” area.
Ahmed Al-Roum Al Muhairi, Acting Executive Director of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, said that the Foundation seeks, through the partnership in this initiative with “Plug and Play”, to support emerging companies owned by individuals and provide them with world-class practices to accelerate the pace of their growth, in addition to laying the foundations for achieving sustainable and innovation-based growth, which in turn contributes to strengthening Dubai’s position as a A global center for startups, the new accelerator program embodies the close cooperation relations between government agencies and the private sector, something that is unique to the entrepreneurship system in Dubai.
The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development supervises the implementation of the program in cooperation with a number of prominent governmental and semi-governmental agencies, including Emirates Aircraft Catering, the General Directorate of Identity and Foreigners Affairs – Dubai, Dubai Health, Dubai Police, and Dubai Municipality.
The program calls on these entities to identify the most prominent challenges in their sectors, to urge Emirati startups to develop innovative and practical solutions for them. This methodology supports constructive cooperation between the public and private sectors, allowing government agencies greater access to local innovations, and enabling Emirati entrepreneurs to meet market needs on the ground.
Through this exchange, the program aims to strengthen the entrepreneurship system in Dubai, establish a culture of innovation, and drive sustainable growth in the most important sectors.
Saeed Amidi, founder and CEO of Plug & Play, said that the company seeks, in cooperation with the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, to provide its expertise to support and develop the local system, pointing out that there is great potential for cooperation through which it can contribute to shaping the future of innovation in Dubai.
He added that the program’s goal is to empower local entrepreneurs by providing them with world-class resources, including specialized guidance, investment opportunities, and expansion prospects in regional and global markets, as well as providing the opportunity for participating stakeholders to communicate directly with leading Emirati startups to achieve their strategic goals.
The program hosts two groups annually, each of which includes 10 Emirati startups that will benefit from Plug & Play’s innovative methodology.
The program includes workshops, advisory sessions, and direct communication with potential partners. Participants receive training to ensure their readiness for investment, in addition to the opportunity to showcase their innovations to government agencies, leading companies, and investors, which accelerates the transformation of inspiring ideas into successful projects.
The new program goes beyond providing support to startups to providing a platform for long-term growth, by establishing strong ties that bring together founders, companies and investors.
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