â€¢ His Highness Sheikh Majid bin Mohammed: the initiative is committed to the vision of His Highness Sheikh Mohammed Bin Rashid towards entrepreneurship in message and approach
â€¢ H.E. Buamim: initiative supports SMEs and builds a platform to continue the country’s successful trading history
â€¢ H.E. Bin Beyat: ‘Tejar Dubai’ is the meeting point between exceptional youth and Entrepreneurship
â€¢ An intensive program that helps turn innovative ideas to successful businesses
â€¢ Training candidates for three months, includes field visits that enhances the project idea through study and implementation
Dubai, UAE: Under the patronage and support of His Highness Sheikh Majid bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts, Dubai Chamber of Commerce and Industry in cooperation with the Private Office of His Highness Sheikh Majid Bin Mohammed Bin Rashid Al Maktoum today launched “Tejar Dubai”, a new initiative to support and encourage the next generation of entrepreneurs.
The initiative is the first in the UAE to offer a specialised programme and platform for youth to help them establish their own small-to-medium-sized business.
Tejar Dubai aims to find and train creative and commercially-minded youth to help them turn their business ideas into a reality.
Not only will it provide youth with access to an extensive development programme, including classroom learning, on-site training, mentoring and business advice, but candidates will be provided networking opportunities with local and international business leaders and access to investment capital.
The initiative goes in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, that the shortest path to a brighter future is that of entrepreneurship. The message behind the initiative is compatible with the speech given by His Highness Sheikh Mohammed Bin Rashid Al Maktoum at the 3rd Annual Global Entrepreneurship Summit (GSE): “How can a building rise without pillars and how can horses conquer without knights… eager educated youth are the basis and are the knights.”
Speaking about Tejar Dubai, His Highness Sheikh Majid bin Mohammed said that it had clear mission and objectives to provide a dedicated platform for the nation’s youth to help support their entrepreneurial ambitions and foster success. This, his highness said, will help support the long-term social and economic stability of the country.
His Highness said the initiative is derived from His Highness Sheikh Mohammed bin Rashid’s vision to help UAE youth and encourage them to innovate. His Highness Sheikh Majid bin Mohammed added that the UAE is a rich source of creative individuals who need assistance and guidance in today’s fast-paced and competitive business world in order to realise their ambitions.
On his part, H.E. Hamad Buamim, Director General, Dubai Chamber, said Tejar Dubai was an innovative idea that would help boost the number of entrepreneurial projects and SMEs, which are central to the future growth and success of Dubai’s economy.
“The global financial crisis showed the need of growing economies to support innovative ideas and adopt youth enterprises. It is vital to focus on entrepreneurial growth in order to boost SMEs as these businesses also contribute significantly to employment and economic activity. SMEs represent over 90% of national activity and 95% of Dubai’s economy, yet they get only financial assistance of no more than 5%. For this purpose Dubai Chamber recognises the importance of this sector and the need to assist with its innovation and growth,” he said.
“At the same time, raising private sector participation of Emiratis is vital for a sustainable and profitable future. Current provision to encourage local entrepreneurship is not adequate, but Tejar Dubai will offer all aspects of support, from mentoring and business advice to networking opportunities and financial support,” H.E. Buamim said.
H.E. Marwan Bin Beyat, General Manger of the private office of His Highness Sheikh Majid bin Mohammed bin Rashid Al Maktoum, said the success of future local business leaders depends on the support and training they are given from the start.
It is not, he said, unusual for the majority of youth to pursue careers in the public sector because of perceived challenges working in the private sector. However, this can be changed by providing better support, assistance, and tools to young aspiring Emirati entrepreneurs that helps tackle the issue through adopting these innovative ideas and help them build it through providing the means for the first step in their businesses.
H.E. Bin Beyat said that the success of nationalisation needs rehabilitation and is an equation that needs determination for successful implementation. He said that it is not unusual that the majority of national youth go to work in government positions considering some challenges with providing a safe environment that encourages growth and development; however this is necessary in order to help the youth take their first step in their future careers.
H.E. Bin Beyat said that Tejar Dubai was a strategic initiative that will create a sustainable platform and favourable environment for talented youth. He said Dubai Chamber was chosen as the logical partner and organisation to lead the initiative as it already has experience in supporting the development of business in the emirates and an extensive network of local, regional and international contacts. Its University of Dubai, he said, was an example of the investment Dubai Chamber has already made in the country’s next generation of business leaders.
Commenting on the initiative, Ammar Hattab, Group Financial & Support Outsourcing Officer, Dubai Healthcare City-UAE, said: “The concept itself refers to an urgent need with reference to the international standards related to SME projects by having several scientific pillars adopt the ideas presented by the youth through the university that acts as a medium for education and training therefore creating a more focused vision for the youth. This initiative also provides the logistic, technical, and financial support provided through the entrepreneurs that will be mentoring and sharing successful stories from the local and global market.
“This initiative aims to open doors and tools to help launch the project as per the approach established by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and under the direction of His Highness Sheikh Majid bin Mohammed, Chairman of Dubai Culture and Arts Authority.”
About Tejar Dubai
The initiative will be strenuous and involve a comprehensive programme that instils competitive behaviour in participants. It will include a tough selection process and demand a substantial commitment from those chosen to participate.
Ten to 15 youth will be chosen to participate after undergoing a rigorous selection process, including a panel interview made up of entrepreneurs and experts in banking, law, human resources, audit and business advisory services, and following the written submission of their ideas and proposals.
Those who are chosen will be asked to commit to an extensive tailor-made three-month programme that will help make their entrepreneurial ambitions a reality. This will include classroom learning, sector-specific training, and a mentorship programme to help build relationships and develop a full business plan.
Participants will also have the chance to meet famous entrepreneurs and foreign delegations visiting Dubai Chamber. Support and guidance will also continue to be offered after the three-month period and the early years of the business.