The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development has announced that BITS Pilani Dubai Campus has joined the list of accredited business incubators in free zones.
In a statement, the foundation stated that the students joining the business incubator provides an opportunity to transform their ideas and inventions into successful companies in various economic sectors and enhance their abilities in creative and innovative thinking at an early age.
Students registered in the business incubator will be able to benefit from the Dubai Next platform, which is the first integrated digital platform for young people and people with creative and ambitious ideas of different nationalities in Dubai, with the aim of presenting their ideas to attract the necessary capital to start implementing them from Dubai based on the concept of crowdfunding.
Abdul Baset Al Janahi, executive director of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, said: "The foundation assumed the responsibility of leading innovation and entrepreneurship in the Emirate of Dubai. It developed well-studied strategies to support the entrepreneurship journey over the years and worked to promote creative thinking methods to come up with innovative products that solve real problems. or ideas for entrepreneurial projects."
It is noteworthy that the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development is supervising the Dubai Network of Business Incubators, so that the corporation oversees the implementation of projects, initiatives and ideas that are launched within the framework of the network, in addition to developing policies and operational plans and studying proposals and opportunities for the network to support entrepreneurs business in the emirate.
“We are proud to be partners with BITS Pilani Dubai in supporting ambitious talents. Co-operation between government agencies and academic institutions is vital to moulding entrepreneurial talent in accordance with the global best practices in nurturing innovation,” added Al Janahi.
Srinivasan Madapusi, director, BITS Pilani Dubai Campus, emphasized on the role of universities to make students market ready by providing hands on training in technical as well as non-technical skills. He said that entrepreneurial skills are gaining importance not only for those who are interested in start-ups, but also in the corporate and industry sectors.
"BITS Pilani, with its vibrant entrepreneurial ecosystem, works in line with the vision of the UAE government to encourage innovation and start-ups," he added. “BITS Pilani alumni have been at the forefront in wealth creation through start-ups. Today our entrepreneurial ecosystem is taking a leap forward by joining the Dubai Business Incubator Network through our partnership with Dubai SME as a certified business incubator. This partnership will transform the university into an entrepreneurial hub by supporting students with access to mentors, business experts and legal advisors, thereby creating new opportunities for our student entrepreneurs to make significant contributions to the intellectual capital and wealth of Dubai and the UAE”.
The inaugural ceremony was graced by the presence of Dr. Aman Puri, consul general India, Dubai; Dilip Chenoy, secretary general, FICCI; and Merzi Sodawaterwala, chairman, World Sustainability Business Forum. BITS Pilani on the same day announced its partnership with World Sustainability Business Forum for jointly working in sustainability and with the International Federation of Indo-Israel Chambers of commerce (IFIICC) to enable multilateral collaboration between the UAE, India and Israel.
The establishment of the Business Incubator aims to encourage tech start-ups and transform the university into an entrepreneurial hub, which aligns with the sixth article of the Fifty-Year Charter of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai to transform universities into free economic and creative zones.
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