Abu Dhabi: A total of Dh15.4 million worth of financing has been provided to Tejar Dubai participants since the entrepreneurship development programme was established in 2013, Dubai Chamber said on Sunday.
This financial support was secured through agreements and partnerships between Tejar Dubai and local banks.
As part of the initiative, 28 commercial projects have been launched to date by its participants with a majority of Emirati-owned businesses operating within the UAE’s smart services, retail, logistics, and food and beverage sectors, according to the Chamber.
A total of 260 business ideas have been submitted to the programme since its launch, of which 23 per cent were adopted. Female participants accounted for 63 per cent of the business ideas submitted, compared to 37 per cent from their male counterparts, Dubai Chamber said in a statement.
It added that during the first six months of 2017, three new businesses were launched under Tejar Dubai, and an additional six commercial projects are expected to be launched before the end of this year.
Hamad Bu Amim, President and CEO, Dubai Chamber of Commerce and Industry, highlighted the importance that the Chamber places on nurturing the local entrepreneurial ecosystem, and noted that the success of young entrepreneurs is critical to the UAE’s economic development.
He emphasised the Chamber’s commitment to supporting this sector through its wide range of initiatives, such as the Dubai Smartpreneur Competition and Dubai Startup Hub, which have provided an important platform for aspiring entrepreneurs across the UAE to gain exposure and support, and develop innovative business ideas.
Tejar Dubai is a specialised entrepreneurial development programme that provides young Emirati entrepreneurs with access to an extensive development programme, including classroom learning, on-site training, mentoring and business advice, as well as networking opportunities with local and international business leaders, and access to investment capital.