Media ININ Economy We Trust
MediaIn-Dubai / Rasha Al-Sharqawi
The Mohammed Bin Rashid Establishment for Small and Medium Enterprises (SME) is supporting entrepreneurship through a series of initiatives aimed at developing the SME sector as an important and vital sector of the emirate’s economy because of its diversity and sustainability in business.
In this regard, the Foundation seeks to launch programs and initiatives in favor of supporting and developing entrepreneurship at the level of existing SMEs in the Emirate of Dubai. These projects represent 95% of the companies operating in the Emirate. They comprise about 42% of the total workforce. By 40% of the GDP of the Dubai economy.
Since its establishment, the Foundation has supported entrepreneurs and encouraged young people to innovate and establish projects. Based on this vision of the Government of Dubai and its recognition of the importance of the role played by the SME sector to develop the economy, the Foundation has supported a large number of young entrepreneurs to start their projects. To create opportunities for competition and market entry by providing government contracts to its members by more than one billion dirhams.
Based on its core role in spreading the entrepreneurial culture among UAE nationals and developing their leadership skills, the Foundation focused on the training and qualification of entrepreneurs through its teaching arm, the Dubai Academy of Entrepreneurship, which trained and qualified 1,480 entrepreneurs in the first half of 2017 Compared with 1100 graduates in 2016, an increase of 43%, while in the first half of this year, about 50 training programs and specialized workshops were held.
The Foundation also provided opportunities for young entrepreneurs to launch their own businesses through the “Small Merchant Competition”, which aims to develop and promote early entrepreneurship for distinguished individuals by giving secondary and university students the opportunity to set up their own business on a temporary basis over several days in the number of Of local commercial centers.
The Foundation has not forgotten the importance of encouraging entrepreneurs on a permanent basis, and has launched the Mohammed Bin Rashid Award for Young Business Leaders to honor outstanding entrepreneurs in the UAE. A number of entrepreneurs have received this prestigious award in recognition of their contributions to the local community and other industries. As well as honoring individuals and institutions that have contributed to the development of entrepreneurs.
