Dubai SME, an agency of the Department of Economic Development, DED, in Dubai, mandated to develop the small and medium enterprise, SME, sector, has signed a Memorandum of Understanding, MoU, with The Sustainable City to enable SMEs develop, commercialise and internationalise their innovations in sustainable technologies.
The MoU, signed along the sidelines of the ongoing WETEX exhibition in Dubai, aims to create a framework for international and local SMEs to showcase, test-bed and commercially deploy their innovations in The Sustainable City in Dubai, and speed up growth by attracting public and private sector partners and investment.
Abdul Baset Al Janahi, CEO of Dubai SME, said, "Dubai SME is joining hands with The Sustainable City to provide SMEs a unique opportunity to capitalise on the National Innovation Strategy in the UAE for the pursuit and promotion of innovative clean technologies. As a regional hub and SME-enabling environment, Dubai offers vast opportunities for innovative concepts to be integrated into its diverse industry and futuristic infrastructure."
Saeed Al Marri, Deputy CEO of Dubai SME, signed the MoU with Karim Al Jisr, Executive Director of The Sustainable City, in the presence of senior officials from both sides.
"Dubai SME is in the process of developing global partnerships with innovators worldwide, particularly initiatives and enterprises in Europe and Japan. We are pleased to add The Sustainable City as our innovation partners as they are pioneering clean tech solutions and green living ideas across communities in Dubai. Our aim is to create a partnership model for shaping future cities of the world," Al Marri noted.
Faris Saeed, CEO of Diamond Developers – the property and real estate developer behind The Sustainable City, stressed, "The UAE leadership was the first in the region to underline the tremendous potential that a sustainable and green economy brings to our current and future generations. We are committed to supporting the UAE Vision 2021 and Dubai Plan 2021 by developing sustainable communities, as well building our national talent and competencies for the green economy. Our agreement with Dubai SME is truly a landmark decision as it will enhance the participation of Dubai’s small and medium enterprises to promote sustainable growth through technology-sharing and piloting of green projects in The Sustainable City."
The two sides will collaborate to identify suitable technologies, pilot projects and SMEs, as well as help them to set up in The Sustainable City. The selected companies will receive support by way of facilitating business partnerships, contracts and funding, in addition to opportunities for knowledge transfer and internationalisation.
Dubai SME will enable innovative SMEs worldwide establish themselves in Dubai easily and take advantage of the city’s location, connectivity and its emphasis on innovation, entrepreneurship, and global competitiveness, through the UAE National Agenda, Dubai Plan 2021, and the Dubai Industrial Strategy 2030.