- The ideas have to be developed on smart economy, smart living, smart mobility, smart governance, smart environment, and smart people
- First three winners receive a cash prize and also get the opportunity to join Tejar Dubai entrepreneurship development programme for a year
Dubai, UAE: The Dubai Chamber of Commerce and Industry has announced that May 7 is the deadline for receiving applications for the Dubai Smartpreneur Competition launched recently in cooperation with the Smart Dubai Office to support the transformation of Dubai into a “Smart City”.
The Smartpreneur Competition is designed with the aim to provide upcoming entrepreneurs the opportunity and inspiration to be part of Dubai’s mission to create happiness by embracing technology innovation and transforming the emirate into a smart city.
The competition, which is open for all entrepreneurs residing in the UAE, requires all participants to submit their business ideas based on one of the Smart Dubai strategy dimensions including smart economy, smart living, smart mobility, smart governance, smart environment, and smart people.
The entries will be judged by a high level of judging team from Dubai Chamber and Smart Dubai Office who will select three winners each receiving cash prizes and also the opportunity to join Tejar Dubai entrepreneurship development programme for a year to train them to put their business ideas into reality.
All the participants of the competition will go through various phases of training and mentoring on how to submit innovative ideas and will also be apprised with the conditions of the program, as they will then present and display their business ideas which will be evaluated and the best ideas will be selected. In the final stage of the competition, three contestants’ business ideas will be chosen while training and guidance will be provided to them before announcing the winners.
All applications will be evaluated based on the following criteria including the problem the business addresses in a large or growing market opportunity, if the idea has a value proposition and identifies customers’ need for the product or service in line with the market and competitive landscape and if it supports one of the Smart Dubai dimensions. Also, if the team demonstrates passion about their idea, and if they have a thorough and credible execution plan along with the idea’s Business Model, its revenue generation methods as well as its financial growth projections.
Essa Al Zaabi, Senior Vice-President, Institutional Support Sector, Dubai Chamber, said Dubai Chamber’s strategy is to spearhead creativity and innovation in the private sector by providing innovative programmes for the business community, adding that the Chamber launches new initiatives to enhance its customer services while strengthening Dubai’s position as the best business destination in the world.
Al Zaabi further stressed that Dubai is seeking to be amongst the top cities around the world in offering smart services adding that the competition is an opportunity for young entrepreneurs to think out of the box while supporting the vision of Smart Dubai.
He called upon the participants to be part of Dubai’s strategic initiative of transforming the emirate into a smart city, saying that the launch of such initiatives offer an excellent opportunity for them to enhance their customers’ experience while positioning Dubai as a reputed hub for business and finance.