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Dubai launches startup crowdfunding platform

Dubai Next will support entrepreneurs in setting up businesses

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Dubai Next, an integrated digital platform that allows ambitious youth and innovators from diverse nationalities in Dubai to secure funding for their projects, has gone live.

The initiative will support the small and medium enterprise (SME) sector, which is a key pillar of the UAE economy.

Dubai Next www.dubainext.ae will contribute to stimulating positive competition and encouraging youth to put forward innovative ideas as well as obtain community support through crowdfunding. It will empower a generation that is capable of innovating to succeed in a competitive commercial environment, thus reinforcing the fundamental role of SMEs in economic development.

Crowdfunding is the use of small amounts of capital from individuals to finance a new business venture. With the use of digital technologies, aspiring entrepreneurs can now present their ideas and projects to a larger segment of the community locally and globally and obtain direct financing or support in marketing the idea.

Dubai Next has been developed by the Mohammed Bin Rashid Establishment for SME Development (Dubai SME), the agency of Dubai Economy mandated to develop the SME sector

Since its launch in 2002, Dubai SME has provided support and guidance to SMEs and emerging companies, while also introducing youth to entrepreneurial opportunities, new trends, and tools to create a successful enterprise.

The launch of the initiative is also part of several efforts taken to support the growth of SMEs. A series of economic incentives and policies were introduced in the last few months that have benefited startups.

Dubai continues to promote entrepreneurship, embrace innovators and creative entrepreneurs, and provide them with all forms of support. The city has enabled entrepreneurs to implement their vision and transform their ideas into projects that support sustainable development and efforts to build a knowledge economy.

Dubai Next enables emerging enterprises to grow, expand, and launch new products. Dubai SME provides a package of incentives for those who obtain financing on Dubai Next. The package includes incubating the idea in the Hamdan Innovation Incubator (HI2) or in one of the 14 certified incubators in Dubai.

The incubators provide services and packages as well as an ideal work environment, effectively contributing to launching innovative projects and supporting them to successfully compete in the local market and expand globally.