Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, has announced the launch of a new business incubator ‘Ztartup,’ in Dubai Healthcare City. The new incubator, located in Wafi Residences, is dedicated to healthcare technology, including digital media and Augmented & Virtual Reality used in healthcare; digital emergency and safety technology. The Centre will also help the entrepreneurs developing and improving smart phone applications for the healthcare, and fintech sectors.
The new incubator provides two specialised programmes – one for Business Incubation and the other, for Business Accelerators. The Incubator will evaluate the enterprises and the skill of the entrepreneurs and help them choose the best programme for them to start and launch their businesses. The incubator also offers several other services, including connecting entrepreneurs to a network of specialists and mentors to help develop their products and services as well as varied courses, training, workspaces, business start-up packages required in each phase of the project, and a number of specialized laboratories that help entrepreneurs to design prototypes for their projects
Abdul Baset Al Janahi, CEO of Dubai SME lauded the role of specialised business Incubators in supporting the economy and developing a new system tailored to the needs of the future. He stressed the importance of the private sector supporting entrepreneurs in line with its role as the engines of economic activity, as well as the need to adopt necessary policies to maintain enterprise growth and economic development.
“There should be balanced support from the public as well as private sectors to enhance the role of small and medium enterprises, create new market opportunities start-ups, open diverse financing channels for entrepreneurs with innovative ideas, and formulate systems and laws for crowdfunding. The private sector plays a major role in supporting start-ups through its community initiatives, which contributes to accelerating economic growth rate,” Al Janahi said.
Al Janahi also emphasized the role of start-ups in generating wealth and employment in the UAE. “Start-ups in Dubai have won global attention due to the significant acquisitions that took place in recent years, furthering the role of Dubai as a knowledge centre and innovation hub in the region. Dubai SME is keen to help start-ups go past the COVID-19 challenge and the government has also intensified efforts to support start-ups.”
Mohamed Shafi, CEO and Founder of Ztartup, said: “Our aim is to develop a new ecosystem that supports tech entrepreneurs. The impact of this new system will be seen on future businesses, technical skills of entrepreneurs and overall economic growth in the UAE. Ztartup seeks to incorporate entrepreneurial initiatives into incubation programmes and business accelerators to ensure their success and sustainability. Ztartup will also connect them to experts who can assist them to advance their tech innovations.”
Shafi added that Ztartup will help entrepreneurs in adapting to the new situation and reshaping their strategies as the economic impact of COVID-19 is being felt globally. Considering that digital technology has flourished and digital transformation has accelerated during this pandemic crisis Startup will also promote innovative products and services that foresee the digital future.
Ztartup brings the number of business incubators certified by Dubai SME to 13. Dubai SME has also established a Business Incubator Network (DBIN) of accredited business incubators and accelerators, which will act as a reference and catalyst for business incubation programmes in the country. The certified incubators offer a package of services, events and work spaces that support entrepreneurs in launching innovative projects and competing in the local as well as global markets. The accreditation programme is also aimed to motivate and support the private sector to invest in business incubators and accelerators.