Dubai SME Boosts 3,461 Emirati Startups in 2024

Photo: Dubai Government Media Office

Dubai SME, a part of the Dubai Department of Economy and Tourism, had an amazing year in 2024. It played a big role in helping Emiratis start and grow their businesses, becoming a key part of Dubai’s mission to double the size of its economy by 2033 through the Dubai Economic Agenda D33.

Thousands of New Businesses Started

In 2024 alone, Dubai SME helped 3,461 new Emirati businesses get off the ground. This is 524 more than last year. Since it started in 2002, Dubai SME has supported a total of 19,904 businesses. These numbers show how fast the small business scene in Dubai is growing.

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Also, 3,075 entrepreneurs received advice and guidance from Dubai SME in 2024. This is more than double the number from 2023, and brings the total number of people helped with advice to 53,206 since the beginning.

Focus on Learning and Growth

To make sure business owners have the skills they need, Dubai SME gave training and awareness sessions to 5,498 entrepreneurs in 2024. That’s a huge jump from 1,627 people in 2023. It also helped 531 startups with digital marketing and promotions, improving the online presence of 3,989 entrepreneurs in total.

This support is in line with the UAE’s Year of Community, which focuses on helping people develop their skills, discover talents, and grow their ideas into real businesses.

Helping with Money and Advice

The Mohammed Bin Rashid Fund for SME (MBRF), which is the money support arm of Dubai SME, funded 44 projects in 2024. These projects got AED 35.17 million in total. Since 2015, MBRF has supported 168 projects with over AED 137 million.

The Hamdan Innovation Incubator (HI2) also helped 66 entrepreneurs in 2024, more than double from last year. In total, 826 startups have received support from HI2.

Words from the CEO

Ahmad Al Room Almheiri, the Acting CEO of Dubai SME, said that the support they gave in 2024 shows their strong plans to help small businesses grow. He mentioned that with the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai SME is helping Emiratis turn their ideas into successful companies.

He added, “We are helping young people build strong businesses that can grow in Dubai and around the world. We’ll continue to work closely with the public and private sectors to keep Dubai’s economy strong.”

Special Projects in 2024

Dubai SME ran many exciting projects last year:

• Hatta Farming Festival (February 2024): Dubai SME supported farmers and small businesses in Hatta by showcasing their work and offering a workshop to guide new business owners.

• Rainfall Relief Aid (April 2024): When heavy rains affected businesses, Dubai SME, through MBRF, provided over AED 2.5 million in help. They also gave a six-month grace period and allowed loan repayments to be delayed for some SME owners.

• Global Village: Dubai SME gave 30 kiosks to Emirati business owners during the 28th edition of Global Village, continuing a partnership that began in 2005. So far, this effort has supported more than 730 businesses.

• Expand North Star 2024: Dubai SME showcased five businesses using AI, IoT, EdTech, insurance tech, and cybersecurity. HI2 also supported the Emaratipreneur Expo 2024, where 50 Emirati startups showed off their ideas to investors.

• Gulfood 2024: Dubai SME backed 10 local food businesses, keeping up a tradition of support in the food and beverage world. So far, it has helped over 120 startups in this area.

• Idea Lab Programme: Launched with Intelak Hub, this three-week programme trained Emirati youth in travel, tourism, and aviation. It taught skills like design thinking, business planning, and understanding the market.

• Emirati Tech Founder Program (E-TFP): In partnership with Bedayat Business Incubator, this program supported 20 tech startups. These startups worked on solving social, environmental, and economic problems while helping with Dubai’s green goals and economic growth.

What’s Next in 2025?

Dubai SME plans to do even more in 2025. They want to:

• Expand their training sessions

• Improve digital tools

• Create more e-commerce platforms

• Build new partnerships to help businesses grow

With strong support and new ideas, Dubai SME is set to help even more Emiratis grow their businesses in the years ahead.