Dubai Silicon Oasis exempts members of Mohammed Bin Rashid Est. for Young Business Leaders from three-year registration fee

The decision demonstrates DSOA's strategy to support small and medium enterprises (SME) in the UAE. It will also create an environment that encourages UAE nationals to make private investments in the region's innovation hub for high-technology industries.

Dr. Juma Al Matroushi, Chief Corporate Services Officer of DSO, said: 'In a fast expanding economy such as the UAE, there are many opportunities for young and skilled nationals to set up small and medium sized enterprises. It is the government and private sector's responsibility to nurture such entrepreneurs and enable them to contribute effectively to the country's economy.

'We believe our decision will serve as an incentive to potential UAE national investors, keen on setting up projects within the technology park.'

Akil Kazim, Director of Operations of Mohammed bin Rashid Est. for Young Business Leaders, praised DSOA for taking its cue from other leading organisations to extend initiatives that support small and medium businesses.

Kazim said: 'The Dubai Strategic Plan 2015 has placed enormous emphasis on the SME sector as a vital player in the country's economy. It has also highlighted the need for collective efforts from large organisations to facilitate young nationals establish their own commercial ventures.

'We welcome DSOA's encouragement of our members. This will motivate many young nationals to be innovative and entrepreneurial. While we already offer a wide range of enabling services, we are extremely keen to work with more organisations that add value to start up businesses.'

More than 600 projects in different sectors such as trade, tourism, business services, interior design, furniture manufacturing, medical production and food production have been set up in the UAE by the Establishment, over the past five years.

Members are offered various advantages including lower rent on office space, as well as fully-equipped commercial premises with facilities such as phone lines, fax and high speed Internet connection.

The Establishment also works towards spreading a business leadership culture through initiatives such as the UAE's first Global Entrepreneurship Monitor Report (GEM-UAE 2006), developed in collaboration with the Zayed University.