The Telecommunications Regulatory Authority launched a training program entitled "UAE Entrepreneurship Program” with participation of a number of “Be'tha” program graduates. The program aims to train and qualify young Emirati engineers to become entrepreneurs and role models in the emerging technologies scene in the UAE.
The program supports UAE’s economy with Emirati entrepreneurs and startups capable of entering the marketplace and successfully starting businesses and projects. The program is in partnership with In5, UAE’s leading business incubator, which has contributed (since 2013) to launching and enabling more than 350 startups, especially in the areas of technology.
The program consists of 3 phases, where phase 1 involves forming teams to explore the basic principles of the business world; market research and how to conduct it; learning how to develop products; creating and developing an economic concept. Phase 2 of the program focuses on planning, developing a roadmap, measuring performance, understanding and dealing with business tools, and how to manage the production process and product development. Phase 3 includes preparing for launching and marketing products, polling the target audience, and developing the mode of work and production based on market requirements.
Commenting on the program, H.E. Eng. Majed Al Mesmar, Chairman of ICT Fund's Board of Trustees, Telecommunications Regulatory Authority’s Deputy Director General: “The Telecommunications Regulatory Authority is keen to realize UAE’s visions by preparing qualified and trained national cadres to lead the development process in ICT-related sectors, where Telecommunications Regulatory Authority, represented by the ICT Fund, organizes training programs that would raise the performance of Emirati youth and give them the necessary knowledge and skills to enter the job market and achieve leadership and success.”
H.E. Mr. Al Mesmar added: “This program is designed to boost UAE’s economic sectors with young Emirati entrepreneurs, who understand the needs of the UAE market and are aware of what define the Emirati society. Those who are scientifically and practically qualified and are able to create new initiatives and projects that promote economic development in the country and accelerate the pace of production, thus contributing to the country's goals. We in the UAE believe that youth are the key force in our race towards the future and to being first globally in various sectors and domains.”
In turn, Mr. Majed Al Suwaidi, Managing Director of Dubai Media City and person in charge of In5, said:
“The entrepreneurial environment of UAE is taking a big step forward thanks to the support of the wise leadership and UAE government. In this context, we are pleased to work closely with Telecommunications Regulatory Authority to foster the knowledge and innovation economy and highlight the role of young Emiratis in technology, which has great growth prospects for entrepreneurs, including e-commerce, Internet of Things, cloud computing, Big Data, cybersecurity, robotics, Artificial Intelligence, 3D printing and more."
He added: “Since its inception, In5 has enabled more than 350 startups to grow and succeed, contributing to more than AED 465 million in direct funding from multiple sources. We are confident that our Emirati youth will set new success examples.”
The UAE Entrepreneurship Program incorporates several training sessions and workshops on forming task teams, examining market needs and identifying the future product. The program also contains meetings with international entrepreneurs and experts to discuss with students the key issues in economics and entrepreneurship. The program further includes biweekly assessments in order to review and evaluate projects of participating students, identify strengths and weaknesses and develop the same in line with future market requirements, based on future foresight studies.
In 2007, theTelecommunications Regulatory Authority launched the ICT Fund, the first of its kind in the Arab world, to achieve rapid, progressive and concrete developments within the ICT sector in the UAE. In supporting sector innovation in the country, ICT Fund has achieved numerous successes in the fields of intellectual capital, technological leadership, smart research, innovative ideas and start-up incubation.
The In5 Business Incubator was established in 2013 with the aim of empowering entrepreneurs and startups in the region as a whole to launch and develop their businesses. It provides state-of-the-art centers, facilities, equipment and access to prototype laboratories, 3D printers and studios. It also provides support, direction and guidance through various training programs and a panel of more than 20 experts representing local and international firms.