Dubai World Central discusses trends in SME innovation in UAE

Dubai World Central, DWC, has successfully concluded a business breakfast networking event as part of its programme of initiatives to facilitate the development of Small and Medium Enterprises, SMEs, in the UAE.

The event, organised by DWC's Business Park Free Zone and sponsored by accounting and consultancy firm Crowe Horwath, drew the participation of more than 80 companies and included a seminar that highlighted the opportunities and challenges facing SMEs.

Guest speaker, Kamal Hassan, Founder, President and CEO of Dubai-based Innovation 360, shared common financial challenges that are likely to emerge while setting up a seed venture. He also highlighted the importance of developing an advanced infrastructure to bring about change and innovation in product development towards the monetisation of SMEs.

Hassan said that DWC is playing a catalytic role in providing SMEs with an enabling infrastructure to help build a powerful and competitive SME community across the UAE.

Highlighting the strength and diversity of the SME sector and its contribution to trade and the annual value-add in the UAE, Paolo Serra, Vice President, Business Park, Dubai World Central, said, "SMEs are the backbone of businesses everywhere. The sector is immensely important to the economic development of the UAE in particular and the region as a whole. The SME sector in the UAE has tremendous potential and capabilities. At DWC's Business Park Free Zone, we structure our products and services around customer needs and help nurture our clients as their businesses grow."

An increasing number of foreign investors are setting up operations at Dubai World Central to leverage its growing business ecosystem that is built around the Al Maktoum International Airport, AMIA. Located around 50 kilometres away from Dubai International Airport, AMIA, is currently undergoing a US$32 billion expansion, and is designed to become a next generation airport. Once complete, the emirate's second airport will spread over 56 square kilometres with capacity to handle more than 200 million passengers and 16 million tons of cargo per year.

The Al Maktoum International Airport received its first passenger flight in 2013, while cargo operations began in 2010. As operations at the airport grow, the destination is anticipated to generate powerful business, employment and investment opportunities.