11 November 2015Under the patronage of HH Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum
· Dubai SME100 in its third cycle attracted 4,532 companies
· Net revenues of participating companies estimated at AED 69.5 billion
Dubai, Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, will announce the list of companies that made it to the Dubai SME100 ranking for 2015 at a ceremony to be held at the Madinat Jumeirah on the 15th of November. The ranking, launched under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai, in 2011 to identify and rate top SMEs in Dubai on the basis of a set of financial and non-financial performance before assisting them to attain new capabilities, expand and compete globally, is currently in its third cycle. Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, said: The Dubai SME100 ranking has grown substantially in terms of level of participation and competition, capability development programmes offered to the ranked companies and the different elements that enhance sustainability and business development, locally and regionally. We have also seen some of the SME100 firms expand to markets overseas, true to the goals of the programme. " Al Janahi added: "The number of companies that registered in the 2015 cycle was 4,532, an increase of 49% compared to the 3,041 companies in 2013. The companies enrolled in 2015 represent a net revenue of AED 69.5 billion approximately and a workforce of 144,000. Such increase in participation is indeed a tribute to the SME executives who attended courses and training we offered with the support of our partners, which also enabled the ranked SMEs to boost performance and business growth." Al Janahi said Dubai SME is keen to identify promising SMEs in Dubai and the UAE in general, and help them progress to the next levels where they can compete locally and globally. "We are especially proud of those start-up companies that have benefited from our support programmes and moved past our SME definition (AED 250 million in revenues or 250 employees) and qualified as large enterprises - companies like Intercoil, OnTime Hira Industries, Kimuha and Task Outsource, to name a few." Hassan Al-Hazeem, Managing Director of Intercoil International said his company had benefitted significantly from being included in Dubai SME100 and participating in the capability development programmes offered in the two years following the ranking. "Intercoil International is proud to be recognised and included in this illustrious list of companies. Dubai SME 100 creates a structured benchmark for the SME community, and helps to highlight local success stories, which in turn inspires others. When a spotlight is shone - it doesn't matter whether on an individual or organisation - it helps us to stand taller, aim higher and strengthen our determination to do even better. At Intercoil we have gained great benefit from our inclusion in the SME 100 and hope to deliver equally great benefit to others through the programme. It is an excellent initiative." Walid Abdul Karim, CEO of On Time Group, stated: " 'On Time Group' has emerged as a major success with one of its largest companies, 'On Time Service', coming up with the innovative idea of offering government services under one roof, earning it a place among the Top 10 Companies in the Dubai SME 100 list. Every year, as many as one million customers use the company's services through its 27 branches and specialized centers that offer innovative services. Through its services, On Time helps entities in the government and private sectors achieve their growth aspirations in the market. We do appreciate the great efforts of Dubai SME and wish all SMEs growth and success." "Over the past two years, we were consecutively in the Dubai SME100 list. It brought KIMOHA into the limelight and enabled us win the Mohammed Bin Rashid Al Maktoum Business Award (MRM) in 2014. The entire KIMOHA team shall always look forward to Dubai SME as a mentor and guide to fulfill our quest for knowledge and learning through exchange of thoughts and ideas," remarked Vinesh Bhimani, CEO of KIMOHA. Manish Hira, CEO of Hira Industries, commented: "Being part of the Dubai SME has encouraged our entire organisation to grow further. Achieving such a well-recognised award helped boost employee morale and helped us tremendously in attracting the right human capital to drive our growth." Mahesh Shahdadpuri, CEO of TASC Outsourcing also termed Dubai SME100 as an excellent way to recognising upcoming SMEs. "Dubai SME is doing a lot of work in helping build an ecosystem of learning, mentoring and best practices for new start-ups. More work needs to be done to build a network of Venture Capital and Angel funding. This would be helpful to the SMEs going forward. I thank the Dubai SME team for the recognition given to TASC Outsourcing and wish their efforts will help all SMEs grow faster."
About Dubai SME:
Dubai SME, an agency of the Department of Economic Development (DED), Government of Dubai, aims to foster an entrepreneurial culture and develop a competitive SME sector for the Emirate of Dubai. The key strategies adopted by Dubai SME are: advocate a pro-business environment for developing entrepreneurship and SMEs, seed innovative start-ups and groom promising SMEs. Dubai SME's vision is to make Dubai the centre for innovative SMEs to start, grow and expand their businesses, thus adding greater value to the economy of Dubai.
For further information, please contact:
Government Communication Division
Department of Economic Development
Tel: (971 4) 455 5927
© Press Release 2015