MBRIF Hosts Demo Day to Spotlight Cohort 9 Startups
Home » Startups » MBRIF Hosts Demo Day to Spotlight Cohort 9 Startups
The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance, announced the successful completion of its Demo Day event. The event showcased innovations from members of Cohort 9 of its Innovation Accelerator Program.
MBRIF revealed that the Demo Day aimed to highlight groundbreaking projects from startups operating in the UAE and globally. These companies are looking to expand their presence in the country and represent key sectors including health, transport, education, technology, clean energy, water, and space.
The startups competed for three key awards: Best Pitch
Best UAE Homegrown Business
Most Impactful Business
The event began with welcome remarks from Shaker Zainal, Head of MBRIF and Chief Business Officer at Emirates Development Bank. A keynote address followed, delivered by H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank.
Member companies delivered innovative presentations, showcasing their creativity and market potential. The Ministry of Finance's representative at MBRIF, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector, praised the achievements of Cohort 9.
She reported that the presentations aligned with the goals of the UAE's National Innovation Strategy. Alnaqbi emphasized MBRIF's ongoing commitment to support startups through tailored mentorship, strategic networking, and world-class resources.
She added that this support equips startups to grow and compete on a global scale. Alnaqbi congratulated all participants and noted MBRIF's readiness to continue backing their journey.
A panel of industry experts evaluated the pitches. The judges included: Ali AlMajthoob, Managing Director at MEVP
Ivo Detelinov, General Partner at Salica Investments
Karim Konsowa, Portfolio Manager at Hub71
The judges focused on the strengths and potential of each company in both local and global markets. At the end of the event, MBRIF announced the award winners. Aura received the Best Pitch Award. Mantas was named Best UAE Homegrown Business. Neuroblast won the Most Impactful Business Award.
MBRIF reported that its Innovation Accelerator Program continues to serve as a key driver of innovation and entrepreneurship in the UAE. The program supports startups in vital sectors and aligns with national strategies to foster innovation.
The Demo Day provided a platform for startups to connect with investors, gain exposure, and access growth opportunities. MBRIF affirmed its role in offering mentorship, insights, and global networking to help startups scale sustainably.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hi Dubai
9 hours ago
- Hi Dubai
Smart Budgeting Tips for SMEs in Dubai to Survive Uncertain Markets
Small and medium-sized enterprises make up over 94 percent of businesses in Dubai and play a vital role in the city's economy. But with rising costs, unpredictable markets, and global pressures, survival today depends less on scaling quickly and more on managing money wisely. What do you do when cash flow tightens or funding dries up? Even strong businesses can stumble without a clear financial plan. Smart budgeting is not about cutting corners—it is about building a system that keeps your business stable, adaptable, and ready for the unexpected. In this article, you'll find practical, government-backed strategies to help your SME in Dubai manage uncertainty, avoid costly mistakes, and grow with confidence. 1. Align Cash Flows with the 50/30/20 Rule What it is: The 50/30/20 budgeting framework, popularized by the UAE Ministry of Finance's Saving Awareness Initiative, recommends allocating 50% of income to essential business expenses, 30% to discretionary spending, and 20% to savings or debt repayment. This rule provides a clear and straightforward guideline for managing finances, promoting both operational stability and future growth. Why it matters: Dubai's official advisors encourage this model for its simplicity and adaptability, particularly in volatile markets. By adhering to this structure, SMEs can ensure they have adequate operational reserves (50%), dedicate funds to innovation and growth (30%), and build a crucial financial cushion (20%). This balanced approach helps businesses navigate unforeseen challenges without compromising their long-term vision. Best practice steps: Assign 50% of revenue to fixed costs: This includes critical operational expenses such as rent, salaries, utilities, and essential software subscriptions. Regularly review these costs to ensure they remain truly "essential" and identify any areas for optimization. This includes critical operational expenses such as rent, salaries, utilities, and essential software subscriptions. Regularly review these costs to ensure they remain truly "essential" and identify any areas for optimization. Cap discretionary spending (marketing, travel) at 30%: This category covers expenses that are important for growth and competitiveness but can be adjusted in leaner times. Examples include marketing campaigns, business travel, employee perks, and non-essential training. The Ministry of Finance emphasizes regularly assessing and prioritizing these expenses, focusing on those that deliver measurable returns. Businesses are advised to optimize subscriptions, renegotiate vendor terms, and focus marketing efforts on high-ROI channels. This category covers expenses that are important for growth and competitiveness but can be adjusted in leaner times. Examples include marketing campaigns, business travel, employee perks, and non-essential training. The Ministry of Finance emphasizes regularly assessing and prioritizing these expenses, focusing on those that deliver measurable returns. Businesses are advised to optimize subscriptions, renegotiate vendor terms, and focus marketing efforts on high-ROI channels. Commit 20% monthly to savings or debt reduction: This portion is crucial for building financial resilience. It acts as an emergency fund, a buffer against market fluctuations, or a source for strategic investments. This consistent allocation reduces reliance on external financing during a downturn and allows for proactive debt management. By anchoring budgets in this tri-part allocation, SMEs in Dubai can withstand downturns without sacrificing innovation or stability. 2. Implement Zero-Based Budgeting Annually What it is: Pioneered by the Ministry of Finance, zero-based budgeting (ZBB) is a method where every expense, from large operational costs down to individual subscriptions and services, must be justified and approved for each new budget period, rather than simply carrying over previous allocations. This approach forces a critical evaluation of all spending. Why it matters: Dubai SME programs have documented significant cost reductions, with reports indicating up to 30% savings from ZBB adoption. ZBB actively prevents "budget creep" – the gradual increase in expenses due to inherited line items or underutilized services that no longer provide value. It encourages efficiency and ensures resources are directed to activities that truly drive growth. How to execute: At year-end, list every expense without assuming continuation: This requires a comprehensive review of all financial outflows, irrespective of historical spending patterns. This requires a comprehensive review of all financial outflows, irrespective of historical spending patterns. Rate each expense on ROI to operations: Evaluate the value and necessity of each expense. Is it directly contributing to revenue, efficiency, or strategic goals? If not, question its inclusion. Evaluate the value and necessity of each expense. Is it directly contributing to revenue, efficiency, or strategic goals? If not, question its inclusion. Trim or reallocate resources to areas that drive growth: Eliminate expenses that do not align with current strategic priorities or provide insufficient return on investment. The freed-up capital can then be strategically reallocated. Eliminate expenses that do not align with current strategic priorities or provide insufficient return on investment. The freed-up capital can then be strategically reallocated. Use savings to invest in innovation or digital transformation: Reinvesting cost savings into areas like technology upgrades, R&D, or new market penetration can provide a significant competitive advantage in uncertain markets. 3. Build an Emergency Reserve Equating to 3–6 Months of Expenses What it is: SMEs in Dubai are strongly encouraged by financial advisors and government bodies to maintain a robust cash buffer equivalent to at least 3-6 months of their essential operating expenses. For self-employed individuals or business owners with unpredictable income, a more robust fund of 6-12 months of personal expenses, in addition to a separate business emergency fund, is often recommended. Why it matters: This reserve acts as a critical financial shield, insulating businesses from unexpected payment delays, sudden market disruptions, or unforeseen operational challenges. It prevents the need for high-interest short-term loans or credit lines during a crisis, ensuring business continuity and stability. It allows businesses to adapt to changes and seize opportunities without added stress. How to build it: Set up a dedicated business savings account: Segregating this fund from daily operational accounts helps prevent accidental spending and ensures its availability when truly needed. UAE banks offer various savings accounts and fixed deposits with competitive interest rates. Segregating this fund from daily operational accounts helps prevent accidental spending and ensures its availability when truly needed. UAE banks offer various savings accounts and fixed deposits with competitive interest rates. Automate transfers from profits monthly: Consistent, automated contributions, even small ones, can build a substantial reserve over time. Treat savings as a fixed expense by automatically transferring a portion of profits. Consistent, automated contributions, even small ones, can build a substantial reserve over time. Treat savings as a fixed expense by automatically transferring a portion of profits. Avoid non-business liabilities like personal expenses or post-dated cheques: Ensure the emergency fund is solely for business use and not commingled with personal finances. This maintains the fund's integrity and purpose. This financial shield ensures survival during temporary revenue shortfalls and allows for strategic decision-making even during turbulent times. 4. Perform Monthly Financial Reviews and Rolling Forecasts What it is: Regular monthly reviews of cash flow, profit & loss (P&L) statements, and loan obligations are essential for agile budgeting and informed decision-making. A rolling forecast is continuously updated, allowing businesses to adapt to changing circumstances based on the most current data. A 13-week rolling forecast is particularly valuable for managing short-term liquidity. Why it matters: Consistent financial reviews allow anomalies in payments or overdue invoices to surface early, enabling swift corrective action. Dubai SME and the Ministry of Finance strongly recommend using digital tools to make this process painless and efficient. Such proactive monitoring helps identify potential cash shortages or surpluses, guiding resource allocation and financial strategy. Steps to operationalize: Schedule monthly closeouts using finance software: Utilize accounting software (like QuickBooks Online or Zoho Books, which are popular in the UAE and offer VAT compliance) to automate data collection and reporting for cash flow, P&L, and balance sheets. Utilize accounting software (like QuickBooks Online or Zoho Books, which are popular in the UAE and offer VAT compliance) to automate data collection and reporting for cash flow, P&L, and balance sheets. Compare actuals vs. forecast; investigate variances >10%: Analyze discrepancies between projected and actual financial performance. Significant variances (e.g., more than 10%) should trigger immediate investigation to understand underlying causes and adjust strategies. Analyze discrepancies between projected and actual financial performance. Significant variances (e.g., more than 10%) should trigger immediate investigation to understand underlying causes and adjust strategies. Update projections quarterly to reflect market changes: Financial forecasts should not be static. Regularly adjust them to incorporate new market conditions, sales trends, operational changes, and economic indicators. Scenario planning (best-case, worst-case) is also recommended. Financial forecasts should not be static. Regularly adjust them to incorporate new market conditions, sales trends, operational changes, and economic indicators. Scenario planning (best-case, worst-case) is also recommended. Use rolling forecasts to guide hiring or facility expansion: By maintaining a forward-looking view of cash flow, businesses can make informed decisions about significant investments like hiring new staff, expanding facilities, or launching new products, ensuring they align with financial capacity. 5. Leverage Government-Backed Financing Appropriately Accessing government-backed financing can provide crucial support for SMEs in Dubai, especially during uncertain times. A. Emirates Development Bank (EDB): Details: EDB, a UAE state-owned bank, is a leading provider of SME finance. In 2022, EDB approved AED 6.1 billion in financing, a 673% year-on-year increase, with AED 1.8 billion specifically allocated to mSMEs. This included AED 1.2 billion in direct financing and AED 611 million through EDB's credit guarantee scheme with partner commercial banks. EDB focuses on strategic sectors including manufacturing, healthcare, renewables, food security, and advanced technology. They offer a range of solutions, including long-term finance (capex), greenfield and brownfield project finance, advanced technology financing, digitization finance, and AgriTech loans. Benefits: EDB offers business-friendly financing solutions, often characterized by longer loan tenors, working capital financing, and credit guarantee/risk mitigation solutions to partner banks. They also provide business advisory services, including financial planning and operational efficiency guidance, and support innovation projects through flexible financing and technical assistance. B. Mohammed bin Rashid Fund & Dubai SME: Details: These institutions play a vital role in empowering Emirati entrepreneurs. Dubai SME, part of the Dubai Department of Economy and Tourism (DET), supported the launch of 3,461 new Emirati businesses in 2024 and offered advisory services to over 3,000 entrepreneurs. The Mohammed Bin Rashid Fund for SME (MBRF), the funding arm of Dubai SME, funded 44 projects totaling AED 35.17 million in 2024, bringing the total funding to AED 137 million since its inception in 2015. They provide loan guarantees, mentoring, subsidized financing, and even financial assistance for specific challenges like the April 2024 rainfall impact. These institutions play a vital role in empowering Emirati entrepreneurs. Dubai SME, part of the Dubai Department of Economy and Tourism (DET), supported the launch of 3,461 new Emirati businesses in 2024 and offered advisory services to over 3,000 entrepreneurs. The Mohammed Bin Rashid Fund for SME (MBRF), the funding arm of Dubai SME, funded 44 projects totaling AED 35.17 million in 2024, bringing the total funding to AED 137 million since its inception in 2015. They provide loan guarantees, mentoring, subsidized financing, and even financial assistance for specific challenges like the April 2024 rainfall impact. Benefits: These programs offer tailored financial support, guidance, and consultancy, helping businesses build a strong market presence and expand. They also offer training programs and awareness sessions to equip entrepreneurs with essential knowledge for long-term success. C. Federal SME/EDB Guarantee Scheme (National SME Programme): Details: The National SME Programme, under the Ministry of Economy, offers certified SMEs access to various benefits, including government procurement opportunities and financing solutions. This program aims to increase the market share of Emirati entrepreneurs and enhance their contribution to the national economy. The National SME Programme, under the Ministry of Economy, offers certified SMEs access to various benefits, including government procurement opportunities and financing solutions. This program aims to increase the market share of Emirati entrepreneurs and enhance their contribution to the national economy. Benefits: The program facilitates access to high-rate financing options and federal/local tenders, supporting revenue growth and expansion opportunities for SMEs. It offers unique and comprehensive initiatives and services, including business support services and financing solutions programs, and has established partnerships with government and private institutions. How to benefit: Apply early for low-interest or guaranteed loans: Research eligibility criteria and application processes for these schemes. Research eligibility criteria and application processes for these schemes. Use funding for innovation, scaling, or CSR—aligned with program goals: Align your funding requests with the objectives of the specific government program to increase your chances of approval. Align your funding requests with the objectives of the specific government program to increase your chances of approval. Avoid reliance on short-term bank loans with fluctuating rates: Opt for longer tenors and more stable repayment terms offered by government schemes, where possible. 6. Refinance High-Cost Debt and Monitor Debt Ratios What it is: Proactively refinancing existing high-rate loans, especially as interest rates stabilize (or potentially decrease) post-2024, is a smart financial move. Alongside this, diligent monitoring of your debt-to-income ratio is crucial for maintaining financial health. Why it matters: Lowering financing costs directly frees up cash flow, which can be reinvested into operations, innovation, or building reserves. UAE banking guidelines generally favor institutions that demonstrate sound debt management and healthy debt ratios, making it easier to secure future financing on favorable terms. A high debt-to-income ratio can signal financial instability to lenders and impact creditworthiness. How to manage: Use comparative quotes from EDB, commercial banks, or fund initiatives: Don't settle for the first offer. Shop around and compare interest rates, repayment terms, and associated fees from various financial institutions, including government-backed options. Don't settle for the first offer. Shop around and compare interest rates, repayment terms, and associated fees from various financial institutions, including government-backed options. Only take additional debt for strategic growth, not routine expenses: New debt should be a strategic decision for expansion, capital expenditure, or innovation that will generate a clear return, not to cover day-to-day operational shortfalls. New debt should be a strategic decision for expansion, capital expenditure, or innovation that will generate a clear return, not to cover day-to-day operational shortfalls. Maintain a ratio where debt-servicing costs remain well within monthly revenue: A healthy debt-to-income ratio ensures that a significant portion of your income is not consumed by debt repayments, leaving sufficient cash for operations and growth. Consult with financial advisors to determine an optimal ratio for your industry and business size. 7. Automate Invoicing, VAT, and Tax Filing to Stay Compliant A. VAT Registration: Details: SMEs in the UAE must register for VAT if their annual turnover of taxable supplies exceeds AED 375,000. Voluntary registration is allowed for businesses with a turnover exceeding AED 187,500. SMEs in the UAE must register for VAT if their annual turnover of taxable supplies exceeds AED 375,000. Voluntary registration is allowed for businesses with a turnover exceeding AED 187,500. Importance: Proper VAT registration and compliance are crucial. Failure to register when mandatory can result in significant fines from the Federal Tax Authority (FTA), starting from AED 10,000. Registered businesses can also reclaim input VAT, which can reduce overall costs. B. Corporate Tax Benchmarks: Details: The UAE introduced corporate tax on June 1, 2023. It applies a 0% rate on taxable income up to AED 375,000 and a 9% rate on income exceeding this threshold. Small businesses with annual revenue under AED 3 million can benefit from Small Business Relief (SBR), which simplifies compliance. All businesses must register for corporate tax and file annual returns, even if they qualify for the 0% rate or SBR. The UAE introduced corporate tax on June 1, 2023. It applies a 0% rate on taxable income up to AED 375,000 and a 9% rate on income exceeding this threshold. Small businesses with annual revenue under AED 3 million can benefit from Small Business Relief (SBR), which simplifies compliance. All businesses must register for corporate tax and file annual returns, even if they qualify for the 0% rate or SBR. Importance: Understanding and complying with corporate tax regulations is vital to avoid penalties and audits. Allowable deductions include employee salaries, rent, utilities, and professional fees, provided they are wholly and exclusively for business purposes. Why it matters: Errors in tax filings can lead to penalties, fines, and potentially disruptive audits. Using the EmaraTax portal is mandatory for tax filings, and integrating it with accounting systems significantly reduces the risk of mistakes. Automation ensures accuracy, saves time, and provides peace of mind. Best practices: Use tax-compliant software, integrated with invoicing tools: Solutions like Zoho Books are designed to align with UAE corporate tax laws and offer features like automated VAT filing and bank reconciliation, with templates compliant with EmaraTax. QuickBooks Online also provides real-time tracking and invoicing. Solutions like Zoho Books are designed to align with UAE corporate tax laws and offer features like automated VAT filing and bank reconciliation, with templates compliant with EmaraTax. QuickBooks Online also provides real-time tracking and invoicing. Automate VAT tracking and end-of-quarter filings: Automated systems can track VAT on sales and purchases, calculate net VAT due, and prepare returns for timely submission. This helps prevent discrepancies that could trigger audits. Automated systems can track VAT on sales and purchases, calculate net VAT due, and prepare returns for timely submission. This helps prevent discrepancies that could trigger audits. Consult accredited advisors before year-end for relief eligibility: Seek professional advice from tax consultants to ensure your business fully understands its obligations and takes advantage of any applicable reliefs or exemptions, such as the Small Business Relief. Maintain accurate financial records, including invoices, receipts, and bank statements, to support all tax filings. 8. Segment Finances Across Multiple Bank Accounts What it is: UAE financial regulations and IMF standards recommend separating business finances into distinct accounts for different purposes, such as operational, payroll, reserve, and tax "buckets." Why it matters: This segmentation is a best practice for financial hygiene and helps prevent cash misallocation. It ensures funds are available for their intended purposes, simplifies audit trails, and facilitates timely tax payments. It also provides a clearer picture of financial health for each area of the business. How to implement: Maintain separate accounts for operations, payroll, savings, and tax: Operations account: For daily income and expenses. Payroll account: Dedicated solely to employee salaries and benefits. Savings/Emergency Reserve account: As discussed in point 3. Tax account: For setting aside VAT and corporate tax liabilities. Use accounting systems to monitor flow between accounts: Integrate your accounting software with your bank accounts to automatically track transactions and provide real-time visibility into the balances and movements in each segment. Integrate your accounting software with your bank accounts to automatically track transactions and provide real-time visibility into the balances and movements in each segment. Document all inter-account transfers for auditing: Maintain clear records of any transfers between these accounts, specifying the purpose of the transfer, to ensure transparency and ease of auditing. What it is: The adoption of AI-powered financial tools is rapidly increasing among UAE SMEs. Tools like GetUpfront and some features within Zoho or other ERP software offer predictive analytics, real-time financial dashboards, and automated alerts. Why it matters: AI tools can detect early warning signs such as low cash balances, overdue receivables, or rising costs automatically, often with higher accuracy than traditional methods. This allows for proactive intervention, helping businesses avoid liquidity issues and make informed decisions about investments and expenses. UAE SMEs using AI cash flow automation are reported to scale 40% faster by reducing payment delays and optimizing working capital. How to begin: Start with a demo; import bank feeds and invoice records: Many AI financial tools offer free trials or demos. Connect your existing bank accounts and accounting systems to populate the tool with your financial data. Many AI financial tools offer free trials or demos. Connect your existing bank accounts and accounting systems to populate the tool with your financial data. Set thresholds for alerts: Configure the system to trigger alerts for predefined financial metrics, such as a cash balance dropping below a certain level, an increase in days sales outstanding (DSO), or expenses exceeding a set percentage of revenue. Configure the system to trigger alerts for predefined financial metrics, such as a cash balance dropping below a certain level, an increase in days sales outstanding (DSO), or expenses exceeding a set percentage of revenue. Use insights to trigger actions: Act on the insights provided by the AI. For example, an alert about rising supplier costs might prompt you to renegotiate rates. A forecast indicating a cash surplus could inform decisions on scaling hiring or launching new projects. AI can also help with scenario modeling for expansion decisions and automated debt/equity recommendations. 10. Take Advantage of Government Procurement Quotas What it is: Dubai mandates that Emirati-owned SMEs receive a percentage of government tenders. The Dubai Government's procurement policy requires government bodies and affiliated entities (where the government holds 25% or more equity) to allocate 10% of their purchasing to Dubai SME members. The National SME Program further supports federal procurements for certified SMEs. In 2023, Emirati SME suppliers associated with Dubai SME were awarded AED 1.27 billion in contracts and purchases from local and federal government entities, semi-government organizations, and private businesses. Why it matters: Securing stable contract revenue from government entities significantly strengthens an SME's budgeting for growth and provides a reliable income stream, even during uncertain economic periods. It also signals credibility and stability to other potential clients and investors. How to act: Register on the Federal Supplier Register and DubaiSME platforms: Ensure your business is officially registered and certified to be eligible for these procurement programs. The National Program for SMEs and Projects website offers comprehensive information on services and initiatives for entrepreneurs. Ensure your business is officially registered and certified to be eligible for these procurement programs. The National Program for SMEs and Projects website offers comprehensive information on services and initiatives for entrepreneurs. Attend government SME workshops and tender briefings: These events provide valuable information on upcoming tenders, application processes, and networking opportunities with government buyers. The Ministry of Economy regularly holds training workshops to highlight mechanisms for leveraging procurements and tenders. These events provide valuable information on upcoming tenders, application processes, and networking opportunities with government buyers. The Ministry of Economy regularly holds training workshops to highlight mechanisms for leveraging procurements and tenders. Align offerings with future infrastructure priorities: Research the government's strategic development plans and tailor your services or products to align with areas of focus such as advanced technology, sustainability, infrastructure development, or specific industry sectors that the government is investing in. 11. Optimize Workspace Costs via Free Zones What it is: Free zones across the UAE, such as Meydan FZ, offer a unique business environment with strategic benefits tailored for SMEs. These benefits often include 100% foreign ownership, no paid-up share capital requirements, full repatriation of profits, zero taxation, and simplified access to government services. Some free zones also offer shared infrastructure, expedited company setup, and partnerships with banks for quick IBAN-linked enterprise accounts. Why it matters: Choosing the right free zone can significantly reduce initial setup costs and ongoing operational expenses. The streamlined processes, especially for banking, can expedite financial operations and improve cash flow management for SMEs. Meydan Free Zone, for instance, boasts license issuance in under 60 minutes and offers immediate access to visa and bank applications. How to choose: Compare license fees, visa quotas, and banking services: Different free zones cater to various industries and offer different packages. Research which free zone aligns best with your business type and specific needs. Different free zones cater to various industries and offer different packages. Research which free zone aligns best with your business type and specific needs. Opt for zones that offer IBAN accounts and services aligned to your sector: Some free zones have specific partnerships or facilities for fintech, e-commerce, or other specialized sectors, which can be highly beneficial. Quick and easy access to an IBAN for business transactions is a significant advantage. Some free zones have specific partnerships or facilities for fintech, e-commerce, or other specialized sectors, which can be highly beneficial. Quick and easy access to an IBAN for business transactions is a significant advantage. Evaluate partner ecosystems for logistics, finance, or legal services: Beyond the core benefits, consider the broader ecosystem offered by the free zone. Access to a network of logistics providers, financial consultants, or legal services can further optimize costs and support business operations. What it is: The UAE's portal and various federal and local e-government platforms provide centralized access to a wide range of SME services. These include training programs, financing opportunities, procurement processes, business registrations, and regulatory updates. In addition, the Dubai Now app offers a unified mobile platform where businesses can access over 130 government and private sector services in one place. This includes bill payments, license renewals, and document tracking, all from a single interface. Why it matters: Timely access to tax updates, new financing schemes, policy changes, or upcoming tenders can significantly impact an SME's bottom line. Staying informed helps reduce costs, opens up new opportunities, and ensures compliance with evolving regulations. Tools like the Dubai Now app make it easier to stay connected and manage essential business services on the go, saving time and reducing administrative burden. How to stay updated: Subscribe to newsletters and DubaiDET's SME channels: These platforms regularly share crucial updates through emails, social media, and dedicated business sections. These platforms regularly share crucial updates through emails, social media, and dedicated business sections. Use the Dubai Now app for real-time access: From trade license renewals to tracking government documents, the app allows you to manage key services in a few taps, without navigating multiple portals. From trade license renewals to tracking government documents, the app allows you to manage key services in a few taps, without navigating multiple portals. Join SME accelerators run by government bodies: Programs offered by Dubai SME or the Ministry of Economy provide structured mentorship, funding access, and industry-specific guidance. Programs offered by Dubai SME or the Ministry of Economy provide structured mentorship, funding access, and industry-specific guidance. Attend free government workshops for VAT, ESG, or export compliance: Government-led sessions offer practical advice on regulations and are a valuable source of networking and learning. This digital-first ecosystem ensures that SMEs can stay agile, compliant, and competitive in Dubai's evolving business landscape. There's no silver bullet. But in Dubai's fast-moving economic climate, a disciplined budgeting framework backed by technology, automation, and official resources makes all the difference. When SMEs adopt zero-based thinking, track finances monthly, and maintain adequate reserves, they do not just survive. They flourish. You do not need to reinvent the wheel. Apply these official, proven strategies today and give your SME the adaptive edge to thrive in whatever market comes next. Also read: Common Compliance Mistakes That Could Cost Your Dubai Business Avoid costly fines and legal trouble in Dubai, learn the top compliance mistakes businesses make and how to stay on the right side of the law. Export Opportunities: Using Dubai as a Global Trade Hub Dive into why Dubai stands out as a trade hub, which sectors hold the most promise and how local businesses can seize these opportunities to thrive on the world stage. Leveraging Dubai's Logistics Hub for Supply Chain Optimization Optimise your supply chain! Discover how leveraging Dubai's world-class logistics hub can boost efficiency, cut costs, and drive business growth.
Zawya
a day ago
- Zawya
MBRIF concludes its Ninth Innovation Accelerator Cohort with Demo Day spotlighting top startups across key sectors
Dubai, UAE: The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance to foster innovation and support innovators across the UAE, held its Demo Day to showcase the groundbreaking innovations presented by members of Cohort 9 from its Innovation Accelerator Program. The event featured innovative companies operating in the UAE and globally, aiming to expand their presence in the country. These companies represent key sectors such as health, transport, education, technology, clean energy, water, and space. The participating startups competed for three awards: Best Pitch, Best UAE Homegrown Business and Most Impactful Business. The event commenced with welcome remarks by Shaker Zainal, Head of Mohammed Bin Rashid Innovation Fund (MBRIF) and Chief Business Officer at Emirates Development Bank, and a keynote address by H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, followed by creative and innovative presentations delivered by member companies. Commenting on the occasion, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, and the Ministry's representative at the Mohammed Bin Rashid Innovation Fund, said: "We are proud to celebrate the achievements of the ninth cohort members of the Innovation Accelerator Program, whose contributions and presentations clearly reflected our aspirations for the National Innovation Strategy. Their outstanding efforts highlight the incredible potential of innovative businesses to shape the future of the UAE's economy." She continued: "At the Mohammed Bin Rashid Innovation Fund, we are committed to providing comprehensive support to these companies through tailored mentorship, strategic networking opportunities, and world-class resources. This approach ensures that they are well-equipped to grow, excel, and compete on a global scale." Fatima Alnaqbi concluded by congratulating all participating members and award winners, adding: "We look forward to supporting these companies as they continue their journey toward new heights of success and innovation." A distinguished panel of judges was responsible for analyzing and evaluating the creative and innovative presentations that the startups delivered. It included Ali AlMajthoob, Managing Director at MEVP; Ivo Detelinov, General Partner at Salica Investments; and Karim Konsowa, Portfolio Manager at Hub71. The evaluations focused on showcasing the unique strengths and promising potential of the participating companies in both local and global markets. At the end of the Demo Day event, the distinguished judges presented the awards to the winners. The Best Pitch Award was won by Aura, while the Best UAE Homegrown Business Award went to Mantas. The Most Impactful Business Award was awarded to Neuroblast. The MBRIF Innovation Accelerator Program continues to position itself as a key enabler of entrepreneurship and innovation in the UAE, driving the growth of innovative startups across vital sectors in alignment with the UAE's National Innovation Strategy. The program provides its members with specialised mentorship, industry insights, and global networking opportunities to enhance their competitive capabilities and expand their businesses. The Demo Day serves as a pivotal platform for startups to showcase their innovations to a select group of investors, offering them valuable exposure, funding opportunities, and the tools to accelerate their growth sustainably. About the MBRIF: The Mohammed bin Rashid Innovation Fund (MBRIF) is a federal initiative launched by the Ministry of Finance and is operated by Emirates Development Bank. Since its launch in 2016, the MBRIF has supported innovators through its first program, the Guarantee Scheme, which offers members access to affordable funding through a government-backed guarantee and without taking equity. The MBRIF's second program, the MBRIF Accelerator, was launched in December 2018. Aligned with the UAE National Innovation Strategy, the initiative aims to enhance growth potential of innovative businesses shaping the future of UAE's economy. The MBRIF Accelerator offers world-class services and coaching to member companies to accelerate their business, elevate capabilities, unlock value and achieve scale. Additionally, the MBRIF partners with the public and private sector to help facilitate growth, provide support, create opportunities and pave the way to success for its member companies in the UAE.
TECHx
a day ago
- TECHx
MBRIF Hosts Demo Day to Spotlight Cohort 9 Startups
Home » Startups » MBRIF Hosts Demo Day to Spotlight Cohort 9 Startups The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance, announced the successful completion of its Demo Day event. The event showcased innovations from members of Cohort 9 of its Innovation Accelerator Program. MBRIF revealed that the Demo Day aimed to highlight groundbreaking projects from startups operating in the UAE and globally. These companies are looking to expand their presence in the country and represent key sectors including health, transport, education, technology, clean energy, water, and space. The startups competed for three key awards: Best Pitch Best UAE Homegrown Business Most Impactful Business The event began with welcome remarks from Shaker Zainal, Head of MBRIF and Chief Business Officer at Emirates Development Bank. A keynote address followed, delivered by H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank. Member companies delivered innovative presentations, showcasing their creativity and market potential. The Ministry of Finance's representative at MBRIF, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector, praised the achievements of Cohort 9. She reported that the presentations aligned with the goals of the UAE's National Innovation Strategy. Alnaqbi emphasized MBRIF's ongoing commitment to support startups through tailored mentorship, strategic networking, and world-class resources. She added that this support equips startups to grow and compete on a global scale. Alnaqbi congratulated all participants and noted MBRIF's readiness to continue backing their journey. A panel of industry experts evaluated the pitches. The judges included: Ali AlMajthoob, Managing Director at MEVP Ivo Detelinov, General Partner at Salica Investments Karim Konsowa, Portfolio Manager at Hub71 The judges focused on the strengths and potential of each company in both local and global markets. At the end of the event, MBRIF announced the award winners. Aura received the Best Pitch Award. Mantas was named Best UAE Homegrown Business. Neuroblast won the Most Impactful Business Award. MBRIF reported that its Innovation Accelerator Program continues to serve as a key driver of innovation and entrepreneurship in the UAE. The program supports startups in vital sectors and aligns with national strategies to foster innovation. The Demo Day provided a platform for startups to connect with investors, gain exposure, and access growth opportunities. MBRIF affirmed its role in offering mentorship, insights, and global networking to help startups scale sustainably.
