Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum
Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Dubai Executive Council on Wednesday launched ‘Dubai Next’, a new digital crowdfunding platform for entrepreneurs Image Credit: WAM

Dubai: Dubai Crown Prince and Chairman of The Executive Council of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, said that the small and medium enterprise (SME) sector is a pillar of the national economy. He added that the UAE continues to give increasing attention to the sector through initiatives and programmes launched to support entrepreneurship in the city.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has continued to emphasise the role of youth in building the future and the importance of empowering them through providing them with opportunities that enable them to reach their full potential. We are committed to realising HH’s vision and introducing solutions and initiatives that will transform their creative energies into achievements that support our development journey.

- Sheikh Hamdan

Sheikh Hamdan launched ‘Dubai Next,’ an integrated digital platform that allows youth and innovators from diverse nationalities in Dubai to secure the required funding to launch their projects.

“The ‘Dubai Next’ platform will contribute to stimulating positive competition and encouraging youth to put forward ideas as well as obtain community support through crowdfunding. It will also empower a generation that is capable of succeeding in a competitive commercial environment, thus reinforcing the fundamental role of SMEs in economic development so that the UAE can continue to stand as a model for youth empowerment,” said Sheikh Hamdan.

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.

Ideal platform

“Dubai continues to promote entrepreneurship, embrace innovators and entrepreneurs and provide them with all forms of support, as per the directives of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Additionally, Dubai has enabled entrepreneurs to implement their vision and transform their ideas into distinct projects that support sustainable development and efforts to build a knowledge economy. The city’s ongoing efforts will contribute to enhancing the emirate's position locally and regionally and enable it to reach the largest segment of young entrepreneurs in diverse sectors,” said Sami Al Qamzi, Director General of Dubai Economy.

Integrated solutions
• ‘Dubai Next’ offers a crowdfunding solution, enabling the community to participate in supporting emerging projects in a safe and secure manner, which in turn promotes growth of enterprises and society alike.
• The platform provides the ideal choice for students to present their projects to potential investors and supporters.
• 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 projects and supporting them to successfully compete in the local market and expand globally.