Dubai SME Revolutionizes Entrepreneurial Landscape with Significant Milestones in 2024
The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) had a landmark year in 2024, marking significant strides in nurturing Emirati entrepreneurship and solidifying Dubai's position as a leading global business hub.
With its efforts aligned with the Dubai Economic Agenda D33, Dubai SME has played a crucial role in advancing the Emirati SME sector, helping to double the size of Dubai's economy by 2033.
In 2024, Dubai SME facilitated the launch of 3,461 new Emirati businesses, bringing the total number of supported SMEs to 19,904. Advisory services and mentorship benefited over 3,000 entrepreneurs, with training sessions reaching 5,498 participants—an increase of more than 200% from the previous year.
The Mohammed Bin Rashid Fund for SME (MBRF) continued to empower startups with AED35.17 million in funding, supporting 44 projects in 2024 alone. Dubai SME also provided crucial relief to SMEs impacted by rainfall, offering AED2.5 million in financial aid and deferred loan repayments.
Major initiatives, such as the Emirati Tech Founder Program and the Idea Lab Programme, fostered innovation in sectors like AI, IoT, and sustainable solutions. Dubai SME also continued its longstanding support at global events like Gulfood and Expand North Star, showcasing Emirati talent on the world stage.
Ahmad Al Room Almheiri, Acting CEO of Dubai SME, emphasized the establishment's commitment to sustainable growth through innovative policies, training, and global expansion opportunities. With plans to further enhance its offerings in 2025, Dubai SME is set to continue driving Dubai's economic transformation and fostering a vibrant entrepreneurial ecosystem.
News Source: Emirates News Agency
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