The Dubai SME, a government agency tasked with the progression of small as well as medium enterprise arena within the Emirate, rolled out latest business incubator within the Dubai Healthcare city.
The Dubai SME stated within their statement on Tuesday added out that: “The Incubator, ZStartup, located within the Wafi Residence will offer SMEs operating within fields of Healthcare technology, including the digitalized media, the augmented as well as virtual reality, the digitalized emergency as well as the safety technology.”
The Business Incubators are specifically designed programmes to aid younger start-ups as well as innovative and for progression. They usually aid in providing workspaces, mentorship as well as for the learning curve as well as for accessing to the investors.
The agency as well as stated out that: “The centre will aid the entrepreneurs to advance and progress smartphone applications for the healthcare and FinTech arena.”
The Chief Executive of the Dubai SME, Abdul Al Janahi, stated out that: “There should be balanced support from the public as well as private sectors to enhance the role of SMEs, create new market opportunities for start-ups, open diverse financing channels for entrepreneurs with innovative ideas, and formulate systems and laws for crowdfunding.”
Dubai, the commercial and trading hub of the Middle East, revealed numerous sustenance measures for SMEs and trades amid the Covid-19 pandemic the preceding year. The emirate also launched impetus measures worth Dh7.1 billion ($1.93bn) to offset the influence of the pandemic.
The aid for healthcare services has progressed amidst the COVID-19 Pandemic as well as the firms are tapping for this demand via refinement of their business models for production of medical as well as other ancillary services.
The Statement also further added that: The Ztartup incubator provides two specialised programmes – one for business incubation and another for business accelerators. The incubator will evaluate the enterprises and the skills of entrepreneurs and help them choose the best programme to launch their businesses. It also offers other services, counting connecting entrepreneurs to a network of specialists and mentors to aid the overall development of their merchandize and services, as well as training, workspaces, business start-up packages obligatory in each phase of the project, and a number of specialized laboratories for entrepreneurs to design prototypes for their projects.”
Ztartup carries the number of business incubators specialized by Dubai SME to 13. The agency has also recognized as a network of accredited business incubators and accelerators, which will act as an orientation for business incubation programmes in the nation.
Mohamed Shafi, chief executive as well as the founder of Ztartup, also stated out that: “Our aim is to develop a new eco-system 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.”
Certified incubators bid for a package of services, events and workspaces to provision the entrepreneurs in initiation of the innovative projects and competing in the native as well as global markets. The accreditation programme is also intended to motivate the private sector to invest in business incubators and accelerators, the statement added.