It enabled an entrepreneur to raise the capital required to start.. and recorded 543 fundraising campaigns since its launch

Dubai Next launches its first crowdfunding startup

Al-Janahi “Wasat” confirmed that the campaign owners retain 100% of the ownership of their project.

From the source

DubaiNext, the first official crowdfunding platform in Dubai, launched last May, has achieved remarkable success within a short period of time, as it launched the first startup project with a “crowdfunding” system, enabling an entrepreneur to raise the entire capital required to start his project on Platform.

The Emirati project, called "Badel 26", witnessed a wide response from shareholders after the launch of the campaign on the "Dubai Next" platform to raise 100,000 dirhams, and after the success of the campaign, the funding was completed by the Mohammed bin Rashid Fund for Small and Medium Enterprises Development, one of the economic institutions. Dubai.

This came during a press conference organized by the platform to present its most prominent achievements so far.

campaigns

Since its launch, the Dubai Next platform has seen 543 campaigns launched, 44 of which have already been approved.

The approved projects include innovative ideas in various sectors, such as business, food, technology, education, design, film and video, games, health, and the arts.

The total funding requested so far has exceeded 27.7 million dirhams, while the projects received 72 contributions from 58 supporters.

crowdfunding

The concept of crowdfunding is based on attracting a group of small-sized capital from the community to participate in financing one business project, and this type of funding is characterized by easy access to a large segment of society and entrepreneurs through social networks and crowdfunding sites.

Anyone who has an innovative idea or project, whether an individual or a company, can prepare or organize campaigns about the idea/project to request support directly from the Dubainext platform.

These ideas are directly supported by community contributors, and individuals or companies can contribute to a campaign started by a friend or family member.

Contributors who support the campaign get to choose from a variety of unique rewards offered by the campaign owner, where the amount contributed can be refunded if the campaign ends without reaching the goal.

Support

Abdul Baset Al Janahi, Executive Director of the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, said: “Contributors may have many reasons to support any campaign, either they are passionate about entrepreneurship and enhance the role of community service, or support a friend or family member, or are motivated by the reward provided by the project owner, Or whatever the reason, everyone has the opportunity to contribute to the revival of a new idea. Contributing to the campaign not only helps the campaign owner or contributor, but in the end it also supports Dubai’s economy.”

He explained that the campaign owners retain 100% of their project, and the "Dubai Next" platform cannot be used to offer shares or financial returns.

«Dubai Next»

Dubai Next is one of the most important steps that have been taken recently to find the benefits of financing and supporting emerging projects by businessmen, investors and society as a whole.

It is the first government crowdfunding platform for startups in the UAE, managed by the Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development, where young people and people with creative and ambitious ideas can present their ideas to attract the necessary capital to start implementing them from Dubai based on the concept of crowdfunding.

The non-profit platform is available to all nationalities and age groups residing in the UAE.

• The total funding required for the projects on the platform exceeded 27.7 million dirhams.

• The platform has raised 100,000 dirhams for the project, provided that "Project Development" will complete the financing.

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