A Spirit of Entrepreneurship
Investing in innovation, looking toward the future and supporting projects that promote entrepreneurship are key components of MBRGI's initiatives. The total expenditure on innovative initiatives and entrepreneurship is AED 377 million.
MBRGI's activities focus on developing entrepreneurship among young citizens in government and in business. Its initiatives nurture entrepreneurs and innovation through incubators, research, innovation, awards and other support.
The Mohammed bin Rashid Establishment for SME Development (Dubai SME) works to create a business-friendly environment for Dubai’s small and medium-sized enterprises (SMEs). Since its launch in 2002, Dubai SME has stimulated growth and development in the sector by supporting 23,000 Emirati entrepreneurs, investing AED 282 million, and helping to launch 4,152 companies.
Its activities include establishing business incubators, identifying impediments to growth, raising awareness of entrepreneurship as an alternative to employment and entering agreements with banks and other financial institutions to ensure the provision of suitable financing options for SMEs, as well as coordination with external suppliers to provide support and advisory services to members.
MBRGI's range of awards are aimed at distinct sections and levels within the industry, such as the Young Entrepreneurs Award, which encourages competition among the youth in the region.
Businesses which have demonstrated their ability to contribute to the economic progress of the UAE are recognised by the Mohammed bin Rashid Al Maktoum Business Award, which shows appreciation for local businesses and encourages them to achieve further success.