Mohammed bin Rashid Al Maktoum Foundation organises first Arab incubators network meeting

Aimed at strengthening cooperation among the incubators to support exchange of knowledge and education, the meeting focused on ways to foster relationship among business leaders from different Arab countries.

The meeting was held on the second day of the Entrepreneurs Forum that was organised from 21-22 May by the Foundation in association with Berytech Technological Pole, one of Lebanon's pioneering incubation and business development centres. The Forum is one of the outcomes of an MoU signed in July 2008 between the Foundation and Berytech to cooperate in developing broader innovation capabilities throughout Lebanon and the region.

The business incubators that participated in the Beirut meeting included regional leaders such as Morocco's Al Akhawayn University, Bahrain Business Incubator Centre at Bahrain Development Bank, Palestine Information and Communications Technology Incubator (PICTI), Lebanon's Berytech, Syrian Computer Society - ICT Incubator, and the Higher Colleges of Technology - UAE.

Adel Al Shared, Vice-Chairman and Managing Director of the Mohammed bin Rashid Al Maktoum Foundation, said:

"The first meeting of the Arab incubators Network is a result of our committed endeavour to provide region-wide support to members, encourage entrepreneurial activities through innovation, and support the development of new companies. This initiative will create more employment opportunities through an environment that stimulates creativity and leadership among the youth, which is one of our key objectives."

"We are optimistic these meetings will lead to the establishment of new business incubators in universities, as well as promote the growth of the SME sector in the region. We believe such gatherings provide an opportunity to meet with business incubators on a platform to share global best practices, while triggering the development of viable initiatives in the region."

Over 70 exhibitors participated in the region's First Entrepreneurs' Forum in Beirut showcasing their products and services. Trade participants represented ICT services, finance and risk management, auditors, consultants, trainers, advertising, branding, multimedia, business development centres, NGOs, chambers of commerce, and government support agencies.

Through the Arab Incubators Network, the Mohammed bin Rashid Al Maktoum Foundation aims to provide a platform for Arab leaders and empower emerging institutions to establish training centres and educational organisations to disseminate knowledge. The Foundation also extends technical guidance, offers funding and financial support, and invests in research initiatives in a number of regional universities and educational institutions.

In its aim to foster job creation and drive sustainable economic growth, the Foundation pursues a vigorous strategy that seeks to sharpen the Arab youth's business acumen through facilitating exchange of information and best practices with key decision makers and thought leaders.