Business

“Dubai Next” First Digital Platform to Support Creative Ideas and Projects

Last Updated on May 21, 2021 by livelydubai

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, affirmed that the small and medium-sized companies sector is one of the pillars of the national economy and enjoys all attention and care in the UAE, which is evident by continuing to launch initiatives, projects, programs and ideas that support and encourage entrepreneurship For those with innovative and creative ideas to launch from its land towards the promising future that they aspire to.

His Highness said: “His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, has always emphasized that young people are the true source of strength in laying the foundations for the future, as this calls for providing them with a full opportunity to unleash their potential and employ Their creative ideas by creating a supportive environment and providing all necessary solutions to enable them to transform this positive energy and creative ideas into achievements that benefit them and support our ambitious development path, especially within its economic axis … and we are continuing to work to achieve His Highness’s vision with solutions and initiatives aimed at empowering youth and transforming their energies. Positivity leads to achievements and taking their hand on the path to success. “

This came on the occasion of the launch of His Highness the Crown Prince of Dubai, the crowdfunding platform “Dubai Next”, affiliated with the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, one of the institutions of “Dubai Economy”, which is an integrated digital platform for young people and those with creative and ambitious ideas of various nationalities in Dubai, with the aim of presenting Their ideas to attract the necessary capital to start implementing them from Dubai, based on the concept of crowdfunding.

The concept of crowdfunding is based on attracting a group of small-sized capital from the community to participate in financing a single business project, and this type of financing is characterized by easy access to a large segment of society and entrepreneurs through social networks and crowdfunding sites .. This financing appeared in Dubai. In its early stages as financing operations between family and friends, however, technological development has opened the way for expansion in this concept by giving the owners of ideas the opportunity to present their projects to a larger segment of society, whether locally or internationally, quite easily, to obtain direct financing or support in marketing the idea, as well as shed Highlight the final product and bring it to market.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum praised the idea of ​​the new platform and said: “We continue to stimulate the spirit of positive competition and urge young people to present innovative ideas … and the new platform will contribute to providing the necessary funding for them through community support, which will empower a generation of innovators and innovators. In addition to upgrading the level of small and medium enterprises that are a fundamental supporter of economic development, the UAE will always remain an example in the field of development, motivating young people, taking care of preparing them, unleashing their energies and constructive ideas, and helping them determine the best way to benefit from them.

His Highness expressed his appreciation for all ideas that contribute to strengthening the UAE’s position among the pioneering countries in the field of support for entrepreneurship, noting the importance of commercial activity, which has always been one of the pillars of the national economic system and part of the socio-cultural heritage of the UAE, which has always been keen to provide all incentives to encourage pioneers. Businesses, especially young people, to start their own businesses, as a practical and positive alternative to traditional jobs.


Keeping pace with development

The launch of the “Dubai Next” platform comes as an extension of the services provided by the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development since its establishment in 2002 in providing support and information for this category of companies, with the Foundation’s continuous work to educate young people about entrepreneurship, its tools and strategies for success in it. To contribute to preparing the next generation of businessmen, who are able to keep pace with global development.

The new platform integrates with the many elements of support provided by Dubai to prepare the optimal environment for the growth and success of emerging businesses and small and medium-sized companies, including the economic stimulus packages that Dubai launched during the past months, which greatly benefited companies belonging to this sector, in addition to the decisions that have been taken. During the same period, with the aim of facilitating business, reducing fees and facilitating procedures, within an integrated system that aims to create all favorable conditions that open the way for business sustainability and enable it to achieve its goals.

The entrepreneurship sector is a major tributary of the global economy, as World Bank statistics indicate that companies classified within this sector constitute the vast majority of the world economy and are a major contributor to job creation and global economic development.

The World Bank estimates show that this sector represents about 90% of total businesses around the world, while its contribution to employment is about 50% globally, while the share of the officially registered small and medium companies sector reaches about 40% of the GDP of the emerging economies around the world.

According to World Bank projections, by the year 2030 the world will need about 600 million new jobs, the small and medium-sized companies sector will be an effective contributor to providing the largest part of them, which calls for supporting its companies and working on their development, and at the forefront of support is providing opportunities to access the necessary financing. To confirm the chances of success and continuity.


A perfect platform

On the occasion of the launch of the “Dubai Next” platform, His Excellency Sami Al Qamzi, Director General of Dubai Economy, expressed his sincere thanks and appreciation for the continuous support given by the wise leadership and the constant care that His Highness the Crown Prince of Dubai gives to entrepreneurs. Bin Rashid Al Maktoum Dubai continues to work on promoting entrepreneurship, embracing innovators and entrepreneurs with creative ideas, and providing them with all forms of support, in addition to enabling them to achieve their visions and transform their ideas into distinct projects that fall within the scope of the sustainable development process and contribute to building a knowledge economy. Based on the concepts of creativity and innovation, in a way that enhances Dubai’s economic position at the local and regional levels, and facilitates the process of reaching the largest segment of young entrepreneurs in various sectors.


A starting point

His Excellency Abdul Basit Al-Janahi, Executive Director of the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, said: “The Dubai Next platform comes within the framework of the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development’s strategy to expand opportunities for success for entrepreneurs, while the platform is a tangible evidence of its keenness. The Dubai government seeks to provide innovative solutions to the challenges facing the owners of creative ideas and innovators and to help them highlight their capabilities in various sectors, by providing community support, guidance and follow-up to small and medium enterprises and emerging creative projects, which serves to establish the foundations for the sustainable growth of the Emirate of Dubai and the employment of knowledge and technological development in Achieving its economic goals. “

Al-Janahi added: “We are committed in the Mohammed bin Rashid Foundation for the Development of Small and Medium Enterprises to provide and make available innovative financing solutions to small and medium enterprises, in line with the directives of the wise leadership on the need to provide the appropriate environment to support the idea of ​​citizens specifically, as the Mohammed bin Rashid Fund will To support youth projects “by providing support to finance innovative projects presented by Emirati entrepreneurs who have registered through the platform, especially those projects that have a future characteristic, provided that they are met by obtaining 50% of the value of the funding required from community funding.”


Integrated solutions

The “Dubai Next” platform provides an innovative solution to crowdfunding, by providing the community with the opportunity to participate in supporting emerging projects, in a safe and secure manner, which will benefit projects and society alike.

– The platform provides the ideal choice for students and idea holders to present their projects

The platform enables emerging enterprises to increase their development opportunities by expanding the scope of markets or introducing new products

– The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development provides a package of incentives for those who were able to obtain financing on the platform, by incubating the project in the Hamdan Center for Innovation and Creativity or in one of the 14 business incubators approved through it in Dubai, which are 14 incubators, as these incubators provide A variety of services, packages and events supporting entrepreneurs within an ideal work environment, which contribute effectively to enhancing the launch of their innovative projects, and competing in the local labor market to reach the global level.

More information about the “Dubai Next” platform can be obtained by visiting the website www.dubainext.ae http://www.dubainext.ae.

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