The United Arab Emirates is home to many innovative entrepreneurs who need a push in the right direction to have their ideas turn into reality. There is a common challenge that every entrepreneur faces: getting the right resources to fuel a project. But that challenge may be addressed in the near future which could result in the UAE becoming one of most innovative markets in the world. A proposed incubator program could launch in the UAE which would give innovative Emiratis the resources they need to bring an idea to life. The proposal comes from the Khalifa Fund for Enterprise Development where the chairman, Hussain Al Nowais, may initiate the first ever incubator program.
The program would help provide entrepreneurs with the support and environment they need to develop their ideas. In order for the program to launch, the Khalifa Fund is working towards cooperation with partners that include research, educational, investment and development institutions in the government as well as private stakeholders. The incubator program could be established in as little as two years according to Hussain Al Nowais, which could help a family bursting with ideas relatively soon.
Innovators would have the ability to propose their idea to the incubator program electronically which would enable them to easily submit ideas and get the resources they need. The program would also include a suite of comprehensive services that could enable innovated ideas to be put into practice. However, the Khalifa Fund urged support from the government to strengthen and increase the capacity of the communication technology sector. The incubator program would be a nationwide rollout that has the possibility of being accessed by the 16 million people who own mobile phones in the UAE.
75% of those mobile phone users have smartphones which calls for an increase in coverage and internet speed to maintain performance and consistency for the incubator program. The improvement would hasten Hussain Al Nowais implementation of the program while helping a family receive reliable phone service. The benefits of the program could help innovators and the general population for obvious reasons but it would put the UAE on the map as the land of innovation