Sheikh Hamdan Launches 'Dubai Next' To Support Entrepreneurs

His Highness Sheikh Hamdan, Crown Prince of Dubai, launched a digital platform called 'Dubai Next' in the UAE to allow youth innovators and entrepreneurs of any nationality in the emirate access to secure funding to launch their projects.

The initiative has been announced by the Crown Prince on Wednesday. 

He tweeted saying, "Today, we launched the "Dubai Next" platform, the first of its kind, to attract crowdfunding to support creative ideas and projects..."

The Dubai CP said the idea behind the initiative was to motivate youth from the UAE as well as from other countries to start their own businesses in Dubai.

Today, we launched Dubai Next, a first-of-its-kind platform to attract crowdfunding to support creative ideas & projects, motivating Emirati & international talents to start their own businesses in Dubai. We aim to empower their success in this competitive commercial environment.

— Hamdan bin Mohammed (@HamdanMohammed) May 19, 2021

"The traditional job is no longer the best option in an era in which the chances of success are for the creative and innovative," said Sheikh Hamdan.

"[There are] great success stories of entrepreneurs who started their projects from Dubai and reached international levels," he added.

"Trade is rooted in UAE’s culture and heritage and its potential for growth is unlimited with Dubai’s position as a hub for global trade. Our goal is to see new generations of successful Emirati merchants."

Sheikh Hamdan, who is also the Chairman of The Executive Council of Dubai, said that the small and medium enterprise (SME) sector is a key pillar of the national economy, and that the UAE continues to give increasing attention to the sector through initiatives and programs launched to support entrepreneurship in the city.

“The Dubai Next platform is fully aligned with the Dubai SME’s mission to create platforms that promote entrepreneurship. Dubai SME’s efforts to provide innovative financing solutions to SMEs is in line with our leadership’s directives to create an ideal environment for supporting innovative ideas and initiatives, especially projects by Emiratis, through ensuring that at least 50 percent of the funding required is obtained through crowdfunding,” added Abdul Basit Al Janahi, CEO of Dubai SME.

Image Source: WAM