In alignment with the national initiative “UAE: Global Capital for Entrepreneurs,” launched by His Highness Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aimed at cementing the UAE’s position as a global entrepreneurial hub, the Dubai Integrated Economic Zones Authority (DIEZ) has introduced the “Employee to Entrepreneur” program. This initiative is designed to empower employees within the authority and its economic zones to establish their own startups and businesses.
This program is part of DIEZ’s dedication to fostering economic growth in Dubai and contributing to the goals of the Dubai Economic Agenda D33, particularly in enhancing the development of small and medium-sized enterprises. The initiative also aims to cultivate an entrepreneurial culture across the emirate by nurturing the entrepreneurial mindset of employees and equipping them with the practical skills necessary to thrive in the business world, thereby supporting them in turning their ideas into startups that can significantly impact the national economy.
Youssef Bahzad, Executive Director of Human Resources and Strategic Transformation at DIEZ, stated, “The launch of the Employee Entrepreneurship Program is a direct contribution towards achieving the strategic objectives of the national initiative ‘UAE: Global Capital for Entrepreneurs,’ as it backs the ambitions of the Dubai Economic Agenda D33, which aims to position Dubai among the top three economic cities globally and become the fastest-growing and most attractive business center for both small and medium enterprises and larger global firms. This new program seeks to discover entrepreneurial talents within the DIEZ team to transform their ideas and startups into successful businesses with growth potential.”
He further noted, “The program is founded on the comprehensive support and empowerment ecosystem that DIEZ and its economic zones have successfully built over decades, aiding businesses of all sizes in expanding into global markets. The program harnesses the advantages and incentives offered by this ecosystem, along with other strategic projects and initiatives, to support employees in launching innovative ventures that contribute to sustainable economic development.”
An Integrated System
The program aims to fully leverage DIEZ’s world-class resources for business support and development, including its top-tier infrastructure, licensing packages, and strategic initiatives dedicated to fostering entrepreneurial projects among employees. This includes consulting and investment support from Eurasia Capital, DIEZ’s investment arm specializing in funding startups, as well as project development opportunities and prototype testing services within the innovation environment of the ‘Sandbox’ program designed to accelerate business growth for tech startups. Additionally, services from ‘Scalety’, an innovative program assisting local, regional, and global tech startups in establishing and growing their operations in the area, along with ‘D-Tech’, the largest technology hub and coworking space in the MENA region, are also part of the initiative.
Three Phases
The program is structured into three main phases, starting with “Idea Development” where the target market is analyzed for product or service fit, followed by “Planning and Building the Model,” which involves creating a business plan and outlining resources and operational plans, and culminating in “Launch and Expansion,” connecting entrepreneurs with potential investors. The inaugural edition of the program attracted a range of innovative ideas in technology, vehicles, healthcare, design, and more, which were assessed by DIEZ’s partners according to specific criteria.
In its first iteration, the program garnered a diverse array of innovative concepts within technology, vehicles, healthcare, and design fields, reflecting the varied expertise and talents of DIEZ’s workforce. These ideas were evaluated based on economic viability, added value to the local market, growth potential, and consideration of strategic dimensions alongside their positive impact on society and the economy.