Dubai SME Licenses The First Business Incubator Under Its New Guidelines
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Dubai SME, the SMEs-focused agency of Dubai’s Department of Economic Development, has licensed its first incubator in Dubai following the introduction of the Incubators and Business Accelerators regulations earlier in March. Dubai SME launched operations of the Re: Urban Studio business incubator, an integrated platform providing a range of specialized business and creativity development services to designers and entrepreneurs, in the Dubai Design District (d3) area.
Floated with a view to streamline the working of various incubators and accelerators for startups in the UAE, the regulations strive to “create an exemplary environment for creative entrepreneurs.” According to a statement released at that time, the new regulations are said to be fully aligned with the economic focus and Industry 4.0 strategy of the Dubai, and will offer various advantages to SMEs and entrepreneurs that including an license that offers 100% ownership, and can be applied for through Dubai SME.
Managed by Mashael Al Ali and Fatima Al Mazrouei, Re: Urban Studio calls itself a “design-specific, membership-based co-working space.” With a 2,800 square foot space in d3, consisting of multi-purpose events space, private offices, meeting rooms and collaborative group seating styles, the space aims to “serve freelancers, entrepreneurs, and remote workers based in and visiting the city with a flexible shared office atmosphere designed to enrich a collaborative community.”
We are proud to have licensed the first business incubator in Dubai as part of the new regulations introduced by Dubai SME, and we are confident that this will be the starting point for an integrated business system that will see SMEs specialized in fourth generation technologies and creative projects emerging in the area, thus achieving the goals set by the country for the industry, as well as the future," Abdul Baset Al Janahi, CEO, Dubai SME, said in a statement.
Al Ali, the executive director of Re: Urban Studio said that the incubator will provide a full program for “developing business ideas, as well as new companies, in the field of design and innovation, the first of which was set for launch in September 2018.” He added that the facility will also provide complementary services, such as licensing support, and offers an open workspace that's welcoming of creative individuals operating out of d3.
So, all you design enthusiasts and entrepreneurs in Dubai, what are you waiting for? Hurry and check the space out!