Dubai: Dubai SME, an agency of the Department of Economic Development (DED), on Thursday launched the second phase of the Young Entrepreneur Competition.
A total of 580 projects will be demonstrated in the second phase, which was designed to encourage youth engagement in the commerce, particularly e-commerce sector.
The successful concepts will be showcased at an exhibition in Dubai which kicked off on Thursday and runs until Saturday, where participants will be marketing their projects.
The first phase of the Young Entrepreneur Competition was launched in December in collaboration with souq.com, the Dubai-based e-commerce portal, and allowed entrepreneurs to retail their products through the site.
The first phase involved competitors presenting and selling their products through the website, competing to reach the largest number of customers and providing logistical support for sales.
“The strong participation in the first phase of the competition was a refreshing testament of Arab youth’s ability to deal with e-commerce, which has become a major part of the retail sector in the UAE and across the region,” said Abdul Baset Al Janahi, chief executive officer of Dubai SME.
He added that the competition is in line with the UAE’s strategy on digital transformation and supporting entrepreneurship.
The second phase of the competition has two categories: the first for children aged five to 11, and the second for young people aged 12-25.