HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, in the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, launched the initiative of the Youth Station, one of the initiatives of the Federal Youth Foundation, which will be the largest incubator Open commercial spaces distributed among the malls, markets, airports, cultural and tourism facilities in the country, in addition to providing free spaces equipped with basic services and tools to support the launch of new startups in the most vital locations, to help young people start their own projects. The launch was attended by HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Knowledge Foundation, Minister of Cabinet and Future Affairs Mohammed Abdullah Al Gergawi and Minister of State for Youth Affairs Shamma Al Mazroui.
Objective of the initiative
The initiative aims to support young entrepreneurs and their startups, in a highly competitive market, with the UAE government taking a decision to embrace and support startups and accelerate their growth, by providing space in the most important markets in the country, in line with the global trend towards providing incubators and accelerators Entrepreneurs of success and continuity, enhance the ease of starting new projects.
Al Shabaab, in cooperation with a group of strategic partners nationwide, will link young businesses directly with customers, giving them an opportunity to evaluate their products and the performance of their companies. The incubator will operate at the heart of markets and vital centers, providing young entrepreneurs with an opportunity to enter the competition as well as international brands, allowing entrepreneurs to gain entrepreneurial skills through hands-on experience, by taking the initiative to the cost of renting space, thereby reducing the risks and challenges facing young entrepreneurs. , And gives them a greater opportunity to focus their efforts to invest in the strengths of their products and services, and enhance their competitiveness and improve the performance and development of their companies, without the burden or financial risks.
Each of the youth stations will provide the opportunity to launch new projects within a period of six months, renewable, in various regions of the country, in the areas most vital to the success of the business, where the Federal Foundation for Youth, in collaboration with its partners in the «Yas Mall» Dubai International Airport, Dubai Mall, City Walk, Al Seef, Last Exit Al Qudra, Last Exit Mad X on Sheikh Zayed Road, Al Safa Art & Design Library, Etihad Museum, City Center Mirdif, Heart of Sharjah, Ajman Science Park, Umm Al Quwain Mall, Manar Mall, Al Hamra Mall, City Center Fujairah Youth centers in the country.
The Federal Youth Foundation has entered into strategic partnerships to allocate these spaces, in cooperation with Aldar Properties, Dubai Airport, Dubai Culture and Arts Authority, Emaar Properties, Miras Retail, Maras Last Exit, Majid Al Futtaim and Shurooq Development and Investment. , Ajman Municipality and Planning Department, Umm Al Quwain-Line Investments and Real Estate Mall, Al Hamra Group, Noon Foundation, Abu Dhabi Department of Economic Development, Dubai Economy, Mohammed Bin Rashid Establishment for SME Development, Sharjah Foundation for Entrepreneurship Support - Rowad , And the Department of Development Ras Al Khaimah Economic Center, Fujairah Chamber of Commerce and Industry - Center for Enterprise and Medium Support, Ajman Department of Economic Development, Abu Dhabi Agriculture and Food Safety Authority, Dubai Municipality, Ras Al Khaimah Municipality and Fujairah Municipality.
Terms and features
The Federal Foundation for Youth requires that young people wishing to join the new initiative and benefit from the youth stations provided, the business owner must be a citizen of the UAE, and the age group between 18 and 35 years, and that the project does not have any branches in the country, where the stations are allocated to projects In addition, the project must have a visual identity of its own, and the registration and licensing procedures will be finalized with the various concerned authorities in the country.
It will provide a range of benefits to young people participating in the initiative, in addition to free space allocation. Basic equipment and services will be provided free of charge, guidance and guidance will be provided, as well as providing a modern and flexible design that facilitates entrepreneurs to add a marketing identity for projects. Benefiting from the services of the station after studying the performance of the project.
• “Youth Station” will be distributed among the commercial centers, markets, airports, cultural and tourist facilities.
• The initiative strengthens the position of entrepreneurs in the arena of competition alongside international brands, and reduces challenges.
• Allocate essential areas, equipment and services free of charge to entrepreneurs benefiting from the initiative.