Hamdan bin Mohammed Launches Digital Crowdfunding Platform Dubai Next
Dubai Crown Prince and Chairman of The Executive Council of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that the small and medium enterprise (SME) sector is a key pillar of the national economy.
The UAE continues to give increasing attention to the sector through initiatives and programmes launched to support entrepreneurship in the city.
HH Sheikh Hamdan said: “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."
His Highness’s remarks came as he launched ‘Dubai Next,’ an integrated digital platform that allows ambitious youth and innovators from diverse nationalities in Dubai to secure the required funding to launch their projects.
His Highness said: “The ‘Dubai Next’ platform will contribute to stimulating positive competition and encouraging youth to put forward innovative ideas as well as obtain community support through crowdfunding.
"It will also empower a generation that is capable of innovating to succeed 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.”
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.
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 innovative projects and supporting them to successfully compete in the local market and expand globally.