Latest news with #AhmadAlRoomAlmheiri
Hi Dubai
21-05-2025
- Business
- Hi Dubai
Dubai SME Targets 8,000 New Emirati Businesses by 2033
Dubai SME is setting its sights on launching 8,000 new Emirati-owned businesses by 2033, aiming to grow its total portfolio to 27,000 enterprises, up from 19,000 at the end of 2024. Ahmad Al Room Almheiri, Acting CEO of Dubai SME, said the organization is integrating artificial intelligence and advanced technology across its services to better support local entrepreneurs. The move is designed to enhance market analysis, automate support processes, and offer smarter consultancy. 'AI will be instrumental in monitoring business progress and responding to challenges swiftly,' Almheiri said, adding that Dubai SME provides training to help entrepreneurs integrate AI into their operations, boosting innovation and scalability. To tackle funding gaps and high startup costs, Dubai SME offers seed and expansion capital through the Mohammed Bin Rashid Fund for SME. Startups can also benefit from commercial licences priced at AED1,000 and incubator space at the Hamdan Centre for Giftedness and Innovation, with a focus on AI, fintech, and the digital economy. The organization is also pushing for greater sustainability and productivity by offering tools like innovation grants, e-commerce onboarding support, and a procurement programme that requires government entities to source 10 percent of purchases from Dubai SME members. Dubai SME held monthly stakeholder workshops and provided more than 3,000 consultations last year, reinforcing its role as a key driver of entrepreneurship in the emirate. News Source: Emirates News Agency
Arabian Business
21-05-2025
- Business
- Arabian Business
Dubai SME to support 8,000 new Emirati businesses by 2033
The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) aims to support the launch of 8,000 new Emirati businesses by 2033, raising the total number of supported enterprises to 27,000, up from 19,000 at the end of 2024. Ahmad Al Room Almheiri, Acting CEO of Dubai SME, highlighted the establishment's commitment to integrating artificial intelligence and advanced technologies to enhance its services, analyse market trends, and improve the efficiency of its support. He said Dubai SME utilises smart tools to identify opportunities, provide specialised consultancy, and deliver digital training. A significant portion of licensing and technical support processes has been automated. Dubai SME support for startups Almheiri said: 'AI will also be instrumental in monitoring business progress and enabling swift responses to challenges'. He added that Dubai SME offers training programs to equip entrepreneurs with the skills to integrate AI into their operations, thereby fostering innovation, scalability, and global competitiveness. The organisation provides seed and expansion funding through the Mohammed Bin Rashid Fund for SME, as well as commercial licences for AED1,000 ($272). Furthermore, incubator space is available at the Hamdan Centre for Giftedness and Innovation, targeting sectors such as AI, the digital economy, and fintech. Dubai SME also prioritises productivity and sustainability by offering relevant tools and resources. These include a grant programme for innovative ideas, an initiative to facilitate e-commerce entry, and a procurement programme mandating government and semi-government entities to allocate 10 per cent of their purchases to members.
Zawya
21-05-2025
- Business
- Zawya
Dubai SME targets 8,000 new Emirati businesses by 2033
The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) aims to support the launch of 8,000 new Emirati businesses by 2033, raising the total number of supported enterprises to 27,000, up from 19,000 at the end of 2024. In statements to the Emirates News Agency (WAM), Ahmad Al Room Almheiri, Acting CEO of Dubai SME, highlighted the establishment's commitment to integrating artificial intelligence and advanced technologies to enhance its services, analyse market trends, and improve the efficiency of its support. He elaborated that Dubai SME utilises smart tools to identify opportunities, provide specialised consultancy, and deliver digital training. A significant portion of licencing and technical support processes has been automated. 'AI will also be instrumental in monitoring business progress and enabling swift responses to challenges,' Almheiri stated. He added that Dubai SME offers training programs to equip entrepreneurs with the skills to integrate AI into their operations, thereby fostering innovation, scalability, and global competitiveness. Al Romaithi addressed key challenges faced by startups, including access to funding and high operating costs. He noted that the establishment provides seed and expansion funding through the Mohammed Bin Rashid Fund for SME, as well as commercial licences for AED1,000. Furthermore, incubator space is available at the Hamdan Centre for Giftedness and Innovation, targeting sectors such as AI, the digital economy, and fintech. Dubai SME also prioritises productivity and sustainability by offering relevant tools and resources. These include a grant programme for innovative ideas, an initiative to facilitate e-commerce entry, and a procurement programme mandating government and semi-government entities to allocate 10 percent of their purchases to Dubai SME members. Moreover, Dubai SME conducts monthly workshops with industry stakeholders and provided consultations to over 3,000 entrepreneurs in the past year.
Hi Dubai
21-04-2025
- Business
- Hi Dubai
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
Arabian Business
20-04-2025
- Business
- Arabian Business
Dubai SME helped launch 3,461 new Emirati businesses last year
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. Dubai SME business support 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, 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 AED35.17m ($9.6m), raising the total number of projects supported to 168 and the overall funding value to AED137m ($37.3m) 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 AED2.5m ($681,000), 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. Expand North Star 2024: Dubai SME participated in Expand North Star 2024, the ultimate super connector event for global startups and investors, showcasing five of its members across several sectors including artificial intelligence (AI) in tourism, energy Internet of Things (IoT), EdTech, insurance marketplace, and cybersecurity. Additionally, HI2 sponsored the Emaratipreneur Expo 2024 which focused on promoting Emirati entrepreneurs and innovative businesses. It provided a platform for 50 Emirati startups with advanced business ideas to showcase their innovations, connect with investors, and gain market exposure Gulfood 2024: Dubai SME supported 10 Emirati businesses at Gulfood 2024, continuing a decade-long tradition of backing startups in the food and beverage industry. To date, Dubai SME has supported more than 120 of its members during this leading annual food exhibition Idea Lab Programme 2024: In partnership with Intelak Hub, Dubai SME launched the Idea Lab programme in 2024 – an intensive three-week initiative equipping Emirati talent with entrepreneurial skills tailored for the aviation, travel, and tourism sectors. Participants engaged in workshops led by industry experts covering design thinking, market analysis, and business model development Emirati Tech Founder Program (E-TFP): In collaboration with Bedayat Business Incubator, Dubai SME introduced E-TFP in 2024 to empower Emirati tech entrepreneurs. The programme supported 20 Emirati tech startups in developing sustainable solutions addressing social, environmental, and economic challenges, contributing to the UAE's net-zero vision and Dubai's economic diversification goals. Dubai SME's plans for 2025 include expanding training programmes, enhancing digital tools, offering e-commerce platforms, and forging new partnerships to elevate Emirati businesses. By strengthening collaborations with stakeholders and leveraging cutting-edge technologies, Dubai SME is poised to drive even greater impact in 2025 and beyond.
