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New crowdfunding platform to support Dubai entrepreneurs

Wednesday, 19 May 2021 18:05

By ARN News Staff

iStock [For illustration]

A crowdfunding platform has been launched in Dubai to support young entrepreneurs and innovators.

The 'Dubai Next' platform will help ambitious youth from diverse nationalities in Dubai to secure the required funding to launch their projects.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and Chairman of The Executive Council of Dubai said that the small and medium enterprise (SME) sector is a key pillar of the national economy, and added that the UAE continues to support the sector by launching initiatives to support entrepreneurship.

Crowdfunding is the use of small amounts of capital from individuals to finance a new business venture.

With the use of digital technologies, aspiring entrepreneurs can now present their ideas and projects to a larger segment of the community locally and globally, and obtain direct financing or support in marketing the idea.

Sheikh Hamdan 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 status as a pioneer in promoting entrepreneurship.

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