Sheikh Hamdan unveils new crowdfunding platform in Dubai for youth entrepreneurs

A new integrated digital platform called Dubai Next has been launched in the UAE to allow youth innovators and entrepreneurs of any nationality in the emirate to secure funding to launch their projects.

The platform (www.dubainext.ae) was launched on Wednesday, May 19, by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

Dubai Next offers crowdfunding solutions, enabling the community to participate in supporting emerging projects and in turn promotes growth of enterprises. It is being touted as an ideal platform for students and innovators to present their projects to potential investors.

Dubai SME will provide a package of incentives for those who obtain financing via Dubai Next. The package includes incubating the idea in the Hamdan Innovation Incubator (HI2) or in one of the 14 certified incubators in Dubai.

Today, we launched Dubai Next, a first-of-its-kind platform to attract crowdfunding to support creative ideas & projects, motivating Emirati & international talents to start their own businesses in Dubai. We aim to empower their success in this competitive commercial environment.

— Hamdan bin Mohammed (@HamdanMohammed) May 19, 2021

The incubators provide varied services as well dedicated work environment, allowing these projects to grow and providing an ecosystem that allows it to compete in the local market and expand.

“The Dubai Next platform will contribute to stimulating positive competition and encouraging youth to put forward innovative ideas as well as obtain community support through crowdfunding. It will also empower a generation that is capable of innovating to succeed in a competitive commercial environment, thus reinforcing the fundamental role of SMEs in economic development so that the UAE can continue to stand as a model for youth empowerment,” said Sheikh Hamdan.

The Crown Prince praised the Mohammed Bin Rashid Establishment for SME Development (Dubai SME), the agency of Dubai Economy mandated to develop the SME sector, for its role in strengthening the UAE’s entrepreneurship ecosystem. Since its launch in 2002, Dubai SME has supported SMEs and emerging companies, while also introducing youth to entrepreneurial opportunities.

“The Dubai Next platform is fully aligned with the Dubai SME’s mission to create platforms that promote entrepreneurship. Dubai SME’s efforts to provide innovative financing solutions to SMEs is in line with our leadership’s directives to create an ideal environment for supporting innovative ideas and initiatives, especially projects by Emiratis, through ensuring that at least 50 percent of the funding required is obtained through crowdfunding,” added Abdul Basit Al Janahi, CEO of Dubai SME.