The Mohammed Bin Rashid Foundation for the Development of Small and Medium Enterprises, part of the Dubai Department of Economy and Tourism, has announced the launch of a new business accelerator program in collaboration with the global innovation leader Plug and Play. The main objective of this initiative is to support the growth of Emirati-owned startups by providing them with essential tools, expertise, and networking opportunities that contribute to their success in the local market, facilitate global expansion, and attract sustainable investments. This, in turn, will enhance their role in diversifying the economy and promoting long-term growth in Dubai.
The program is managed by Plug and Play, and is part of a series of events and workshops under the “Dubai Entrepreneurs Hub” initiative, which was launched earlier this month in partnership with the Dubai Chamber of Digital Economy. The aim is to unify and strengthen the ecosystem for startups and small and medium enterprises in Dubai.
The participating startups will benefit from a variety of services and support provided by the initiative, including access to the hub located at the 25 Hours Hotel in the One Central area.
Ahmed Al-Roumi, interim CEO of the Mohammed Bin Rashid Foundation for the Development of Small and Medium Enterprises, stated, “This new initiative embodies our leadership’s inspiring vision and reflects our unwavering commitment to achieving the targets of the Dubai Economic Agenda D33 by empowering Emirati entrepreneurs, who are a fundamental pillar in shaping Dubai’s prosperous economic future.”
“Through our distinguished partnership with Plug and Play, we aim to support UAE-owned startups by providing them with world-class practices to accelerate their growth, while establishing the foundations for sustainable and innovation-driven growth, which will in turn elevate Dubai’s status as a leading global center for startups,” he added.
The new accelerator program symbolizes the close cooperation between government entities and the private sector, a unique characteristic of Dubai’s entrepreneurial ecosystem.
Saeed Amidi, founder and CEO of Plug and Play, expressed, “We are excited to collaborate with the Mohammed Bin Rashid Foundation to support the growth of Emirati companies, bridging connections with Dubai from the heart of Silicon Valley, home to major tech companies like Google and OpenAI.”
“We aim to leverage our advanced expertise to support and grow the local ecosystem, as we believe there are significant collaboration opportunities that can help shape the future of innovation in Dubai,” Amidi added.
“Through this program, we aim to enable local entrepreneurs by providing them with world-class resources, including specialized mentorship, investment opportunities, and avenues for expansion into regional and global markets. This program also allows stakeholders to interact directly with leading Emirati startups to achieve their strategic objectives,” he emphasized.
The program will host two cohorts each year, with each cohort comprising ten Emirati startups benefiting from the innovative methodology of Plug and Play.