Dubai SME rolls out new business incubator to boost start-ups

The new initiative focuses on supporting entrepreneurship in food technology, energy, water and building materials sectors

Abdul Baset Al Janahi, chief executive of Dubai SME. Jaime Puebla / The National

Dubai SME, the government body tasked with the development of small and medium-sized enterprises, rolled out a new business incubator to support entrepreneurs and boost the start-up ecosystem in the emirate.

The new programme, "Bedayat", started in co-operation with the Sustainable City in Dubai, focuses on attracting ideas in food technology, energy, water, building materials, transportation, and waste treatment sectors, according to Dubai SME on Saturday.

"This incubator will further add to the accomplishments of other incubators that have contributed in supporting 50 incubated projects so far," said Abdul Al Janahi, chief executive of Dubai SME.

The incubator is the seventh such Dubai-SME-approved facility and will provide a variety of services, packages and events to support entrepreneurs.

“We are confident that this facility will attract brilliant ideas,” he added.

The authority has backed 7,000 start-ups since 2002. Last month, Dubai SME's Mohammed Bin Rashid Fund and First Abu Dhabi Bank formed a partnership to roll out a new receivable financing programme aimed at supporting smaller businesses in the emirate.

Under the agreement, FAB will offer Emirati-owned suppliers financing against sales invoices. The programme will also offer national entrepreneurs preferential rates and a broader array of FAB's suite of business banking products and services.