(MENAFN- Khaleej Times) Shaikh Majid bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Culture and Arts Authority, has launched an entrepreneur development programme to hone national talent and extend support to small and medium enterprises (SMEs).
The programme - Tejar Dubai - launched during a high-profile ceremony at Madinat Jumeirah in Dubai on Thursday, is a joint effort between the Dubai Chamber of Commerce and Industry and the Private Office of Shaikh Majid bin Mohammed bin Rashid Al Maktoum.
The initiative is in line with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, which states that the shortest path to a brighter future is that of entrepreneurship.
The programme is dedicated to provide a tailored individual learning experience to selected aspirant entrepreneurs and to arm them with the knowledge and skills necessary to ensure the success of their innovative ideas and creativity as well as their smooth entry into the world of business with their SME projects.
The launch ceremony was attended by a group of senior business leaders, Dubai traders and school students and graduates of universities and colleges in the emirate.
The Entrepreneur Development Programme aims to foster the next generation of entrepreneurs by developing their skills and expertise through professional training while also cultivating a culture of entrepreneurship in the country.
Shaikh Majid said Tejar Dubai is one of the leading initiatives that will inspire the youth in the emirate to move forward towards development and progress required in various sectors. "The programme will also lead to the empowerment of national entrepreneurs cognitively and practically and encourage them to establish small and medium-sized enterprises."
In his welcome address, director-general of the Dubai Chamber of Commerce & Industry Hamad Buamim said that Tejar Dubai comes as part of the chamber's commitment to developing national talent and to offer them job opportunities and to open up avenues for their entrepreneurial projects in SMEs while also enhancing the reputation of Dubai in the world business arena.
Acknowledging the contribution of the SME sector to the emirate's economic growth, Buamim said that SMEs constitute over 90 per cent of Dubai companies and contribute 30-35 per cent to the UAE's GDP, however the sector gets only financial assistance of no more than five per cent.
Shedding light on the programme, Buamim said Tejar Dubai is open to young Emiratis in the age group of 15 to 35 years to put forward innovative business ideas online on the website www.tejardubai.ae following which selected candidates will be interviewed by the panel of experts committee who will hand pick the finalists for the Entrepreneurs Development Programme. The launch ceremony also announced the names of the panel of experts committee which is made up of six prominent Dubai business leaders and CEOs headed by Hisham Al Shirawi, second vice-chairman, Dubai Chamber, and chief executive officer of Oasis Enterprises, and includes Eng. Yahya Lootah, vice-chairman, S.S. Lootah Group; Abdulfattah Sharaf, CEO of HSBC Bank Middle East Limited; Dr Amina Al Rostamani, Group CEO of Tecom Investments; Vijay Malhotra, chairman and CEO, KPMG; and Nilesh Ved, chairman, Apparel Group.
In his address, Hisham Al Shirawi said that the onus is on all of us to foster nascent entrepreneurs amongst UAE nationals and their respective promising business ideas which are economically feasible and able to withstand the tests of the marketplace.
Al Shirawi, who is selected as the head of the panel of experts committee responsible for assessing the ideas of applicants and their selection for engaging in the programme, said this initiative developed by Dubai Chamber aims to foster the development of a more diverse and knowledge-based economy.
In a conversation session moderated by Ali Obaid Al Hamili, head of the News Centre, Dubai Media Incorporated, Juma Al Majid, Chairman of Juma Al Majid Establishment, called upon the youth to be innovators and not imitators stating that innovation and not imitation is the best way to succeed in life as he asked them to work hard to realise their goals.
Juma Al Majid urged the young generation to benefit from the opportunities available to them in the present times as in the past opportunities were scarce, the market was small and the first time traders lacked business background but Dubai businessmen managed to turn things to their favour and moved forward in their endeavours.
Also on the side lines of the launch ceremony, a Memorandum of Understanding was signed between Dubai Chamber and Zayed University on strengthening bilateral cooperation for the Tejar Dubai initiative under which the university will offer training courses to selected students of the programme who will be offered consulting services, guidance and training for setting up a small-and-medium-sized enterprise.
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