logo
Dubai SME reaches huge milestones, reshapes entrepreneurial landscape

Dubai SME reaches huge milestones, reshapes entrepreneurial landscape

Gulf Today20-04-2025

The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), part of the Dubai Department of Economy and Tourism (DET), marked a breakthrough year in 2024, delivering milestone achievements that reinforced Dubai's position as a major hub for entrepreneurial growth.
The 2024 results contributed significantly to advancing Emirati entrepreneurship and accelerating the expansion of the SME sector. These accomplishments align with the ambitious goals of the Dubai Economic Agenda D33, which aims to double the size of the city's economy by 2033 and further consolidate its position as a leading global destination for business and leisure.
The past year saw Dubai SME reinforcing its role as a catalyst for economic transformation and a driver of Emirati entrepreneurship through a comprehensive range of services and opportunities.
In 2024, Dubai SME facilitated the launch of 3,461 new Emirati businesses, 524 more than in the previous year, bringing the total number of supported SMEs to 19,904 since 2002, the year Dubai SME was founded.
Advisory services were also offered to 3,075 entrepreneurs who benefited from expert guidance and mentorship, more than double the number supported in 2023, bringing the total number of beneficiaries to 53,206 since 2002.
In line with the UAE's Year of Community, which aims to unlock the potential of individuals, families, and organisations by developing skills, nurturing talents, and fostering innovation and entrepreneurship, Dubai SME continues to support home-grown businesses throughout their journey – from ideation to expansion – enabling them to develop their skills, thrive locally, and scale globally.
In line with its mission to build operational excellence among startups, the establishment delivered training programmes and awareness sessions to 5,498 entrepreneurs in 2024, compared to 1,627 in 2023, further reinforcing its commitment to equipping entrepreneurs with the knowledge needed to achieve long-term success.
Dubai SME also extended commercial promotion and digital marketing support to 531 startups in 2024, up from 363 startups in 2023, boosting the online presence of 3,989 entrepreneurs to date.
The Mohammed Bin Rashid Fund for SME (MBRF), the funding arm of Dubai SME, remained instrumental in empowering entrepreneurs through financial support, guidance, and consultancy. In 2024, MBRF funded 44 projects, amounting to AED35.17 million, raising the total number of projects supported to 168 and the overall funding value to AED137 million since its inception in 2015.
In addition, the Hamdan Innovation Incubator (HI2), an initiative by Dubai SME, supported 66 entrepreneurs in 2024, a significant increase from 29 businesses in 2023, reaching 826 total startups supported through increased market access, expansion, and financial guidance.
Ahmad Al Room Almheiri, Acting CEO of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), said, 'Inspired by the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we have laid the foundation for sustainable growth through innovative policies and robust support systems. As we continue to advance towards achieving the D33 goals, Dubai SME remains committed to supporting the growth of the next generation of entrepreneurs across various sectors. By providing financial and technical guidance, we enable businesses to build a strong market presence, including the development and global expansion of Emirati companies.
'Our achievements in 2024 reflect the tangible impact of our comprehensive strategy around supporting SMEs. By actively integrating entrepreneurs and Emirati talent into the SME ecosystem, we are empowering them to scale their operations and drive the city's economic growth. This reflects our unwavering commitment to fostering a vibrant business environment that benefits both individual enterprises and the broader community. Looking ahead, we will continue focusing on strengthening our collaborations with both the public and private sectors to maintain Dubai's economic competitiveness and solidify its position as a leading global city for business, investment, and innovation.' Throughout 2024, Dubai SME rolled out transformative initiatives that amplified its reach. In February 2024, Dubai SME participated in the inaugural Hatta Farming Festival, where it showcased entrepreneurs and SMEs from Hatta's agricultural sector. During the festival, Dubai SME conducted a workshop to introduce its support services, inspiring and encouraging SMEs to turn ideas into viable ventures.
Through MBRF, Dubai SME launched an initiative to support UAE-based SMEs impacted by the rainfall that took place in April 2024. The relief included financial assistance exceeding AED2.5 million, grace periods of up to six months, and deferred loan repayments for eligible Emirati SME owners.
Dubai SME also continued to support businesses by giving them access and prominence at major events, including: Global Village: Dubai SME continued its long-standing partnership with Global Village, the region's leading family destination for culture, shopping and entertainment. During Global Village's 28th edition, which ran until April 2024, Dubai SME allocated 30 kiosks to Emirati entrepreneurs. Since 2005, this collaboration has supported more than 730 projects.
WAM

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ruwad records 23.9% growth in government contracts in 2024
Ruwad records 23.9% growth in government contracts in 2024

Sharjah 24

time2 hours ago

  • Sharjah 24

Ruwad records 23.9% growth in government contracts in 2024

Improving national economic performance Acting Director Fatima Al Ali stated that this rise underscores RUWAD members' strong position as trusted providers to federal and local government agencies. It also demonstrates a growing trust in the quality of services and goods provided by Emirati entrepreneurs, reinforcing their position in national development and public-private collaborations. Enhancing member competitiveness She stated that RUWAD is dedicated to increasing its members' competitiveness through focused training programs, awareness workshops, and discussions on government procurement methods. Members are also urged to join approved supplier platforms and take part in digital tendering processes. Government partnerships Al Ali also stated that the foundation works with key authorities such as the Ministry of Finance and Sharjah's Central Finance Department to foster a conducive business environment. These collaborations enable increased participation in bids and provide additional incentives and opportunities for enterprises. Expanded reach throughout federal contracts In 2024, 46 RUWAD projects signed 318 contracts with 42 federal agencies. The services provided varied from hospitality and catering to facility management and office operations. Leading contracting bodies included the Sharjah Police Academy, Kalba Municipality, and the Districts Affairs Department. Expansion of supplier base by 250%. By the end of 2024, the number of RUWAD members registered as suppliers with Sharjah's Central Finance Department had grown to 129, up from 14 the previous year, representing a 250% increase. This extension allows more projects to benefit from government procurement privileges. RUWAD members also closed 22 mutual deals as part of the "Tashbeek" initiative, which aims to develop entrepreneurial relationships while also boosting collaboration and service integration.

ECI highlights role of skilled professionals in driving national export growth, economic diversification and sustainability
ECI highlights role of skilled professionals in driving national export growth, economic diversification and sustainability

Web Release

time6 hours ago

  • Web Release

ECI highlights role of skilled professionals in driving national export growth, economic diversification and sustainability

Etihad Credit Insurance (ECI), the UAE Federal export credit company, underscored the importance of attracting top talent and skilled professionals to catalyse the growth of the national export sector, in support of fostering a highly diverse and sustainable economy. The organisation also highlighted the role of skilled and experienced individuals within the UAE's human resources ecosystem in nurturing creativity, while expanding the growth opportunities in export, re-export, and foreign non-oil trade sectors. Her Excellency Raja Al Mazrouei, CEO at ECI, said, 'The UAE is committed to implementing forward-thinking policies that prioritise human creativity and investment in human resources. In line with this vision, our wise leadership regularly invests in education and training initiatives to empower Emirati talents and offer various avenues for youth to develop their skills and knowledge. Moreover, the country has opened its doors to welcome foreign talents and create a competitive business environment equipped with a diverse range of expertise. At ECI, we strive to advance the goals of the UAE's ambitious national vision, which aims to nurture a diverse, sustainable and innovation-driven economy. In addition, we remain steadfast in our efforts to attract top Emirati talents and integrate outstanding professionals into our workforce to enhance the efficiency of our operations, solutions and support resources.' H.E Al Mazrouei added: 'The integration of experts from diverse domains into ECI's workforce, reflects our ability to attract and retain top national talents. We are fully confident that their expertise and skills will help us achieve ECI's strategic goals, consolidating our position as a leading player in the export insurance sector. Through these concerted efforts, we further reiterate our commitment to strengthening the UAE's workforce, in line with the nation's long-standing vision to build a dynamic and sustainable economy.' As part of its broader efforts to nurture national talent, ECI recently welcomed three distinguished Emirati professionals to its managerial team. Mohammed Jamal Tahlak was appointed as the Director of Corporate Support, Mohammad Sulaiman as the Head of GRC (Governance, Risk & Compliance), and Hamad Al Omran as the Head of Strategy & PMO. These important appointments reflect ECI's long-term Emiratisation strategy aimed at cultivating a robust workforce base encompassing specialised national talent, wherein Emiratis occupy approximately 71 per cent of all senior managerial positions.

Massive AI Surge: UAE's GenAI growth hits 344%, leading the region
Massive AI Surge: UAE's GenAI growth hits 344%, leading the region

Gulf Business

time7 hours ago

  • Gulf Business

Massive AI Surge: UAE's GenAI growth hits 344%, leading the region

Image credit: Getty Images The UAE has recorded a 344 per cent year-over-year increase in Generative AI (GenAI) enrollments, significantly outpacing the MENA regional average of 128 per cent and the global average of 195 per cent. The findings are based on the Global Skills Report 2025 from Coursera, a leading online learning platform with over 170 million users worldwide. Read- The report highlights the UAE's growing emphasis on future-ready talent, with 87 per cent of employers in the country prioritising technology literacy, AI, and big data skills. The country continues to lead the region in digital upskilling, with 13 per cent of the labor force actively engaging in online learning. Workforce transformation driven by AI Professional certificate enrollments rose by 41 per cent, including a 14 per cent increase in cybersecurity courses—demonstrating rising demand for job-relevant, tech-focused credentials. The report analyses skill trends and learner behavior across more than 100 countries. The sharp increase in GenAI enrollments reflects the UAE's broader strategy to cultivate a knowledge-based economy powered by Emirati talent, aligning with the national 'We the UAE 2031' vision. UAE ranks first in Arab world on AI Maturity Index A new feature in this year's study is the AI Maturity Index, which evaluates national readiness for AI by combining learner engagement data with indicators from the International Monetary Fund (IMF) and the OECD. The UAE ranks first in the Arab world and 32nd globally out of 109 countries. This ranking is supported by national initiatives such as the planned 5GW AI Campus and the integration of AI into public school curricula. These efforts align with the UAE's National Artificial Intelligence Strategy 2031, which aims to make AI a key contributor to over 20 per cent of the non-oil GDP by that year. 'The UAE is rapidly scaling AI learning and infrastructure to drive workforce transformation and regional innovation. Its strong performance on the AI Maturity Index, combined with high rankings in overall skills proficiency, demonstrates the country's growing ability to close skill gaps, nurture future talent, and lead in AI readiness,' Kais Zribi, General Manager for the Middle East and Africa at Coursera, said. Key challenges: Gender gap and skills shortage remain Despite the UAE's progress, challenges persist. The country ranks 38th globally in overall skills proficiency across business, technology, and data science, though it leads the Arab world. Notably, the UAE shows high proficiency in business skills (85 per cent), moderate strength in data science (59 per cent), and room for improvement in technology (52 per cent). Among the 10.8 million learners in the MENA region, 1.3 million are based in the UAE, with a median age of 36. Mobile learning continues to grow, with 41 per cent of users accessing content via mobile devices. However, 72 per cent of UAE employers still cite skills gaps as a major barrier—above the global average. Increasing women's participation in emerging tech fields remains critical. Women currently make up 32 per cent of online learners in the UAE, with just 24 per cent enrolled in STEM courses and 21 per cent in GenAI, highlighting a significant opportunity for more inclusive growth.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store