Dubai SME, the SMEs-focused agency of Dubai’s Department of Economic Development, just licensed its first incubator in Dubai after the introduction of the new rules and regulations for incubators and business accelerators back in March.
The first incubator launched, Re: Urban Studio is an integrated platform that provides a range of specialized business and creativity development services to designers and entrepreneurs, in the Dubai Design District (d3) area.
According to a statement made, the new regulations introduced aim to “create an exemplary environment for creative entrepreneurs.” It also adds that the new regulations fall in line with Dubai’s economic focus and Industry 4.0 strategy, and will offer a number of advantages to SMEs and entrepreneurs, including a license that offers 100% ownership.
Re: Urban Studio is a “design-specific, membership-based co-working space” founded by Mashael Al Ali and Fatima Al Mazrouei. The incubator is a 2,800 square foot space in d3 that consists of multi-purpose events space, private offices, meeting rooms, and collaborative group seating styles. It’s the perfect space for freelancers, entrepreneurs, and remote workers to come get some work done and get their creative juices flowing.
Abdul Baset Al Janahi, CEO, Dubai SME, commented on the launch of the incubator saying: “We are proud to have licensed the first business incubator in Dubai as part of the new regulations introduced by Dubai SME, and we are confident that this will be the starting point for an integrated business system that will see SMEs specialized in fourth generation technologies and creative projects emerging in the area, thus achieving the goals set by the country for the industry, as well as the future.”
Executive Director, Mashael Al Ali stated that the incubator also provides a program targeted towards developing business ideas, in addition to new companies in the field of design and innovation. According to Mashael the first program will launch in September 2018 and will provide complementary services including licensing support, and offers an open workspace to creative individuals working outside d3.