Emirates News Agency – “Economy” launches competition to promote entrepreneurship culture among students

DUBAI, November 21 / WAM / His Excellency Abdullah bin Touq Al Marri, Minister of Economy, confirmed that the entrepreneurial sector in the UAE is undergoing qualitative developments thanks to the ambitious national strategies and projects implemented by the state under the guidelines of its wise leadership , to be a preferred global destination for entrepreneurs and a breeding ground and attractive environment for entrepreneurial projects and leading small and medium-sized companies, in accordance with the principles of the fiftieth century and the objectives of the UAE Centennial 2071.

His Excellency explained that the development of the entrepreneurial sector is one of the pillars of the economic work in the country to build a competitive, sustainable and diversified knowledge-based economy based on innovation and technology with proactive and flexible elements, noting that the recent launch of the “Entrepreneurship Home” represents a new and central station in the development of the country’s new economic model, contributing to increasing the contribution of entrepreneurship to GDP and the development and diversification of the national economy as it provides an integrated system with a global vision to take the business environment in the country to new more prosperous levels, and provides opportunities for entrepreneurs to establish their business and realize their ambitions from the country of UAE in various vital and future areas, nor in particular sectors of the new economy e.

In this context, the Ministry of Economy, in collaboration with the MIT Enterprise Forum Pan Arab, today launched the SkillUp Compete competition, one of the tracks emanating from the Academy for Building Entrepreneurship Skills SkillUp, which represents one of the three main axes from the Entrepreneurship Hub, where the competition focuses on consolidating the culture of entrepreneurship among students Higher education institutions and recent graduates in the UAE.

The competition was launched at a ceremony held at the Higher College of Technology headquarters in Dubai, in the presence of His Excellency Dr. Ahmed bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, President of the Higher Colleges of Technology Complex, and His Excellency Dr. Abdullatif Al Shamsi, Director of the Higher Colleges of Technology, with the participation of university presidents and members of governing and educational bodies representing many higher education institutions, in addition to student entrepreneurs enrolled in business incubators in state-level technical colleges, totaling more than 500 participants.

His Excellency Dr. Ahmed Belhoul Al Falasi said: “Through the axes and paths of the Entrepreneurship Home, which is based on the largest partnership of its kind between the public and private sectors, we focus on creating the entrepreneur, consolidating the culture of Provide solutions to entrepreneurship from the early stages, refine learning opportunities, skills and drive policies to prepare a generation of entrepreneurs Entrepreneurs who are able to create globally competitive projects and provide incentives for the success of entrepreneurial companies, supporting the goals out of fifty, elevating the UAE’s position to be at the forefront of the world’s most attractive countries for entrepreneurs.”

His Excellency added: “Today we are launching one of the Academy’s programs to build entrepreneurial skills: the SkillUp Compete track for students of higher education institutions and recent graduates in the UAE. The track focuses on developing the entrepreneurial mindset from the stage of developing initial ideas to honor leading entrepreneurs through a competition program Integrated and studied, as it was designed to attract the best and most creative students from higher education institutions to participate in the global entrepreneurship system.

His Excellency Dr. Abdul Latif Al Shamsi expressed his happiness at the launch of the SkillUp Compete competition, which aims to establish a generation of entrepreneurs from the headquarters of the Colleges of Technology in Dubai, which in 2019 witnessed the launch of the first creative economic free zone in implementation of the sixth point of the 50th Charter, according to which the Colleges of Technology became the first higher education institution in the country to be accredited as free creative economic zones, allowing them to graduate businesses and entrepreneurs.

He pointed out that the colleges, through the economic zones and through an integrated startup development program, had excellent experience in setting up startup companies, which formed a strong foundation from which students started setting up their businesses. future projects as the colleges have so far succeeded in launching /132/ start-up companies including 36 They have obtained licenses to run their business and 21 have launched and taken their positions in the market.

Al Shamsi said: “We are delighted to play an active role in collaboration with various educational institutions in this competition to promote entrepreneurship among the young generation so that they can create their future, emphasizing that entrepreneurial skills are no longer linked to a specific specialization, but they are skills that allow any idea owner to develop and convert them into a product or service of value and economic feasibility.Therefore, innovation and entrepreneurship has become one of the paths that students in various academic disciplines are offered as we go beyond the process of preparing them from the stage of employment to post-employment by enabling them to create their employment opportunities, hoping that the competition will achieve the desired goals.

The Ministry of Economy stated that the “SkillUp Compete” competition offers the winners many benefits, including prizes and cash, as well as registering their companies, support in setting up and registering companies, providing office space, support in participating to specialized national accelerator programs, as well as the opportunity to receive support and guidance from specialists and the opportunity to take advantage of access to expertise and connect with investors at a global level through a network of strategic partners.

The ministry pointed out that the door for registration for the competition is open through the official website of the Entrepreneurship Home website at the link: https://theentrepreneurialnation.com/skillup/, and that registration will end on December 12, with noted that the conditions that must be met to enter the competition are: The entrant must be a student of higher education institutions in the UAE or recent graduates for not more than 4 years, and the team must be composed of at least two members exist, provide an audited business model with a clear growth plan and are recommended by a supervisor, college professor, or professional expert.

The candidates will benefit from an integrated training program to develop their business, and the finalists will be selected to present their ideas to a jury composed of experts and international investors.

It is noteworthy that this month the Ministry of Economy launched the “House of Entrepreneurship” in the framework of the fifty-year economy plan, which provides a comprehensive portal for the development of entrepreneurship and strengthens the position of the UAE as the most attractive destination for entrepreneurs and entrepreneurial projects in the world, and aims to create a culture of entrepreneurship and provide solutions and opportunities Learning and incentives through 3 main axes including a number of tracks as a first phase, and is based on the largest partnership of its kind between the government and the private sector, and contributes to achieving a qualitative leap in the system that supports the prosperity of entrepreneurs and businesses in a way that supports the goals of the new economy in the country.

The 3 axes are: SkillUp Academy, which aims to equip ambitious people with the required skills in the world of entrepreneurship and the methodology for a successful application on the ground, and StartUp, which aims to achieve success stories and help entrepreneurs make their journey. starting in the world of startups, the ScaleUp support platform for high-growth companies: it aims to support qualified companies so that they can expand in the future and reach the category of large and billions of companies.

The expertise of the strategic partner of the MIT Enterprise Forum Pan Arab competition was also leveraged in qualifying those to nominate and selecting contenders according to the organization’s international standards, in addition to leveraging the network of global experts to Intensive training program for the final candidates and then support the winners by joining the global organization’s network.

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