Dubai SME Targets Launch Of 8,000 New Emirati Businesses By 2033 With AI Integration

The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) plans to help launch 8,000 new Emirati businesses by 2033. This will increase the total number of supported enterprises to 27,000, from 19,000 at the end of 2024. The initiative aims to boost entrepreneurship and economic growth in the region.

Ahmad Al Room Almheiri, Acting CEO of Dubai SME, emphasised the importance of integrating artificial intelligence and advanced technologies into their services. These technologies are used to analyse market trends and improve support efficiency. Smart tools help identify opportunities, provide specialised consultancy, and deliver digital training.

Almheiri noted that 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," he stated. Training programs are offered to equip entrepreneurs with skills to integrate AI into their operations.

Al Romaithi highlighted key challenges faced by startups, such as access to funding and high operating costs. To address these issues, Dubai SME provides seed and expansion funding through the Mohammed Bin Rashid Fund for SME. Additionally, commercial licences are available for AED1,000.

The establishment also offers incubator space at the Hamdan Centre for Giftedness and Innovation. This space targets sectors like AI, the digital economy, and fintech. These efforts aim to foster innovation, scalability, and global competitiveness among startups.

Focus on Productivity and Sustainability

Dubai SME prioritises productivity and sustainability by offering relevant tools and resources. These include a grant programme for innovative ideas and an initiative to facilitate e-commerce entry. A procurement programme mandates government entities to allocate 10 percent of their purchases to Dubai SME members.

The establishment conducts monthly workshops with industry stakeholders. Over 3,000 entrepreneurs received consultations in the past year. These efforts aim to enhance business knowledge and create a supportive environment for SMEs.

With inputs from WAM