Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, and University of Dubai (UD), have signed a memorandum of understanding (MoU) to jointly support innovation and entrepreneurship.

A key element of the MoU is a joint programme called ‘Witness Innovation,’ sponsored by Citigroup and aimed to help entrepreneurs develop and grow their business ideas.

As part of the partnership, specialists from the University of Dubai will provide training sessions in a wide-range of areas including finance, marketing, human resources, energy, leadership and others to all candidates enlisted under ‘Witness Innovation.’ The programme will be provided to selected candidates free of charge.

Both parties also agreed to provide professional coaching and mentoring by successful entrepreneurs with experience and insight into new business development. The MoU outlines the objectives of both parties to motivate younger generations and entrepreneurs and help them envision and implement their business plans.

Abdul Baset Al Janahi, CEO of Dubai SME, said the programme is part of his organisation’s agenda to enhance entrepreneurial talents and support SME businesses to become globally competitive. "Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, has taught us that public sector organisations are instrumental in supporting local entrepreneurs to be globally recognised," he added.

Dr. Eesa Bastaki, President of the University of Dubai, said the university is committed to teaching, training and coaching young entrepreneurs in the UAE to become number one in the field of business, IT, engineering and other areas. "The University of Dubai will select the best faculty members, experts and tutors to achieve this unique mission with Dubai SME, a public organisation that has won the trust and admiration of many citizens and expats."

Karim Seifeddine, Public Affairs and Government Relations Head at Citigroup said the Group is committed to working with the University of Dubai and Dubai SME in an important community project like ‘Witness Innovation.’ "We are also committed to helping young entrepreneurs achieve local and international goals in business and innovation."

In addition to training, coaching and mentoring candidates in the ‘Witness Innovation’ programme will also attend networking sessions and site visits to SME ventures in many areas to learn the challenges of running a business as also go through live case studies led by successful entrepreneurs.

Source:WAM