DUBAI: Dubai has launched a business incubation center for young entrepreneurs in the fields of tourism, franchising and e-commerce, state news agency WAM has reported.
The Tjaarz Business Incubation Center, located in one of the emirate’s major business districts, will offer business development consulting and work spaces on a membership basis.
The center was launched by Dubai SME, a government agency mandated to support small and media-sized enterprises, which is a major component of the UAE’s economic strategy.
“Our objective is to support young entrepreneurs to develop their skills and experiences in the world of entrepreneurship, which will be reflected in business and economic development across the UAE,” said the center’s founder and CEO Fahad bin Thani.
The center will also support specific entrepreneurial activities such as production of perfumes and specialty beverages. It has laboratories and specialized courses in these fields.
Gulf economies have recently been investing in the region’s startup scene, which vastly contributes to wider efforts to veer away from oil dependency.
Ten other incubators have been certified by Dubai SME to support entrepreneurs in the Middle East, and help them grow their business for global competitiveness.
Dubai SME chief Abdul Baset Al-Janahi said the recent launching of the Tjaarz Business Incubation Center “contributes to building a knowledge economy, thus enhancing the UAE’s economic position locally and regionally, and facilitates the process of reaching out to youngsters in various sectors.” The incubator is also aligned with the goals and vision of the UAE, he added.