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Sheikh Mohammed issues law to regulate drone activity in Dubai
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Sheikh Mohammed issues law to regulate drone activity in Dubai

04 Jul 2020 Written by

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued law No. (4) of 2020 on Saturday, outlining the regulations governing drone activity in Dubai, a statement issued by the Dubai Media Office said.

The law aims to reduce risks associated with drone activity and specifies the duties and responsibilities of relevant authorities. The new law also seeks to help Dubai promote itself as a hub for drone manufacturing, smart transportation and innovation in the sector, and enable public and private entities to use drones and provide drone-related services.

The law applies to the activity of all types of drones across Dubai and its free zones. Drones that are used for military purposes are exempted from this law. However, they should coordinate with the Dubai Civil Aviation Authority to ensure safety and avoid endangering civil aviation operations.

Rules for flying drones in the emirate were first introduced in 2017.

Dubai Civil Aviation Authority

According to the law, the Dubai Civil Aviation Authority is tasked with overseeing the implementation of the law and managing all related operations and activities in line with federal legislations and international treaties and conventions. This also includes monitoring and controlling drone activity in their designated airspace and outlining the conditions and procedures for issuing permits and conducting trials.

The DCAA is also tasked with identifying and approving the designated areas and heights within which the operations and trials of drones can be conducted.

Dubai Air Navigation Services

Dubai Air Navigation Services is tasked with streamlining the activity of drones within Dubai's airspace and demarcating the airspace within which they can operate in order to support Dubai Civil Aviation Authority in monitoring drone activity.

Dubai Air Navigation Services is also tasked with providing air navigation services and air traffic movement and meteorological information to drone operators so that they can operate safely.

Dubai Aviation Engineering Projects

Dubai Aviation Engineering Projects is tasked with setting specifications, standards and conditions for 'Drone Airports' and presenting them to the Dubai Civil Aviation Authority for approval. Dubai Aviation Engineering Projects is also tasked with ensuring the design and plans of 'Drone Airports' are aligned with urban plans and transportation regulations in the city.

Dubai Police

The law tasks Dubai Police with managing all the security aspects of drone activity and coordinating with the Dubai Civil Aviation Authority to put in place security measures to prevent the illegal use of drones and crimes committed by using drones, as well as measures to deal with the loss of control of drones, especially when they are flying outside their designated areas and not complying with regulations.

Licence for drone activity

According to the law, all drone-related operations require a licence from the Dubai Civil Aviation Authority. It outlines the conditions for the use of drones and various permitted drone activities including those that are related to government operations, commercial activity, scientific and research activities, leisure, or activities specified by the Dubai Civil Aviation Authority's Managing Director.

The DCAA Managing Director is also in charge of listing the permitted categories for drone operations in Dubai. Anyone who possesses a drone should register it with the Dubai Civil Aviation Authority.

The Dubai Civil Aviation Authority, in coordination with the Telecommunications Regulatory Authority, is tasked with outlining the procedures for the use of radio frequencies for drones and their systems and remote-control stations.

As per the law, a permit from the Dubai Civil Aviation Authority is required for developing infrastructure for the operation of drones. The permit will be issued in coordination with the Dubai Aviation Engineering Projects and other relevant authorities, in accordance with relevant regulations and conditions.

The law prohibits any person from establishing or operating airports for drones or making any modification on such facilities before obtaining a permit from the Dubai Civil Aviation Authority. This permit will be issued in coordination with the Dubai Aviation Engineering Projects and other concerned authorities.

When using airports and airstrips, drone operators must comply with the rules and safety standards set by the Dubai Civil Aviation Authority.

Refueling, power and operational safety certificate

In accordance with the law, a permit from the Dubai Civil Aviation Authority is required to supply drones with fuel or power. This permit will be issued in coordination with the Dubai Aviation Engineering Projects and other relevant authorities.

Prior to operating drones, its systems and airport strips, operators are required to obtain an operational safety certificate.

Mandatory guidelines for operating drones

The law specifies the guidelines that operators, pilots, supervisors and crew members should comply with including safety requirements and procedures, manufacturer's instructions, and security requirements set by the Dubai Civil Aviation Authority in coordination with the Dubai Air Navigation Services and relevant authorities.

Use of airspace

The airspace and areas designated for drones will be determined by the Director General of the Dubai Civil Aviation Authority. The Dubai Air Navigation Services is responsible for determining the air routes in which drones may fly according to pre-planned and approved procedure set out by the Dubai Civil Aviation Authority.

Controlled airspace and prohibited areas

In accordance with the law, all individuals, other than authorised personnel, are prohibited from operating drones in controlled airspaces designated for civilian or military aircraft.

The Dubai Civil Aviation Authority may allow select drone operations in controlled airspace in accordance with specific regulations, provided they do not affect civil aviation.

All individuals are prohibited from operating drones in restricted and dangerous areas.

The Dubai Civil Aviation Authority in coordination with Dubai Police may allow government agencies to use drones for security, rescue, firefighting, surveillance or other purposes that are in the public interest.

Drones for public services

Subject to the approval of the Dubai Civil Aviation Authority, government authorities may use drones for providing public services, control and inspection processes, data collection and statistics, ambulance services, firefighting, traffic monitoring, conducting monitoring required for environmental, health, planning and construction compliance, infrastructure, ports, beaches, sea ports, air surveys, and search and rescue operations, in accordance with the regulations adopted by the Dubai Civil Aviation Authority.

Acts of unlawful interference

According to the law, acts of unlawful interference, which endanger the safety of civil aviation and air transport include illegal seizure of drones, illegal control of their operating systems, any act that is deemed illegal as per regulations, and installation of any weapon, device or dangerous substance or prohibited materials on drones. Any individual who carries out any of these acts is subject to legal action.

Confidentiality and data protection

Anyone who uses a drone must take all necessary measures to avoid violating the privacy of individuals, as well as the privacy of private property and commercial assets and maintain the confidentiality of legally protected data.

Using recording, photography or remote sensing equipment to violate the freedom and privacy of individuals or families, as well as photographing facilities, buildings and restricted or prohibited areas without authorisation from concerned entities, and installing any equipment to collect information and data illegally, are strictly prohibited by law.

Punishments, violations and compensation for damages

Without prejudice to any other legislation, tough penalties including imprisonment and/or fines, could be applied to anyone who endangers the safety and security of the airspace, or designs, manufactures, assembles or modifies drones and its systems, and develops simulation and training systems, or imports or sells drones, parts or systems in the Emirate without permission from the Dubai Civil Aviation Authority, as well as anyone who operates drones in violation of the provisions of the new law.

Any individual causing damage due to drone operations shall be responsible for damage compensation and removal of the cause of damage during the period determined by the Dubai Civil Aviation Authority.

In case of delay, the Authority is authorised to remove the cause of damage, in addition to charging the person or party responsible for the damage 20 per cent of the cost of removing the damage.

Anyone with a grievance may submit a written appeal to the Director General of the Dubai Civil Aviation Authority (DAA) against the decisions, procedures or measures taken against him or her in accordance with this law, within 30 days of the date of the actions. The grievance will be reviewed within 30 days of its submission by a committee formed by the Director General of the Authority.

Apart from decisions made by the Chairman of The Executive Council of Dubai in accordance with the provisions of this law, the Director General of the Dubai Civil Aviation Authority shall issue the decisions required to implement the provisions of this law. Any provisions of other legislations that conflict with or contradict the provisions of the new law shall be considered void.

The law will be published in the Official Gazette and is effective from the date of its publication.

source: khaleejtimes

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أبو ظبي تعلن عن مشروع "ائتلاف المشاريع الناشئة" دعماً لرواد أعمال المنشآت الصغيرة والمتوسطة
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أبو ظبي تعلن عن مشروع "ائتلاف المشاريع الناشئة" دعماً لرواد أعمال المنشآت الصغيرة والمتوسطة

03 Jul 2020 Written by

أعلنت دائرة أبو ظبي للتنمية الاقتصادية في 2 يوليو/تموز عزمها تنفيذ مشروع "ائتلاف المشاريع الناشئة الصغيرة والمتوسطة" وذلك بالتعاون مع أكثر من 40 جهة حكومية وبمشاركة من الحكومة الاتحادية والفعاليات الاقتصادية في القطاع الخاص.

مشروع استراتيجي وأهداف طموحة

تأتي أهداف المشروع بحسب رئيس دائرة التنمية الاقتصادية السيد محمد علي الشرفاء، لتسهيل التبادل المعرفي  والابتكار ودعم وتعزيز التنافسية للشركات الناشئة الصغيرة والمتوسطة حيث يركز المشروع على الشركات الناشطة في المجالات التي تتطلب مهارات عالية لاسيما في قطاعات الرعاية الصحية وتقنية المعلومات والحلول المبتكرة. كما يستهدف المشروع دعم رواد أعمال المشاريع الصغيرة والمتوسطة بناءً على تقييم ودراسة وضعها الحالي، إستناداً إلى التجارب الدولية في هذا المجال.

وعد رئيس دائرة التنمية الاقتصادية هذا المشروع "مشروعاً استراتيجياً" يأتي في إطار حرص حكومة أبوظبي على تعزيز وتمكين دور الشركات الناشئة الصغيرة والمتوسطة للمساهمة الفاعلة في الناتج المحلي الإجمالي لإمارة أبوظبي معتبراً بأن قطاع الشركات الناشئة الصغيرة والمتوسطة محرك أساسي للنمو الاقتصادي للإمارة ودولة الإمارات بشكل عام، ويأتي تعزيز قدرته التنافسية ودعم منظومة الابتكار في أعماله هدفاً استراتيجياً لتحقيق رؤية قيادة حكومة دولة الإمارات للخمسين عاماً المقبلة.

تحديد للأدوات والوسائل وتعيين لجان

وفي إطار تنفيذ المشروع، حددت دائرة التنمية الاقتصادية الأدوات والوسائل لتمكين تحقيق أهداف المشروع، ويأتي أهمها: إنشاء منصة رقمية، تنظيم ورش عمل، وإعداد برامج ريادة الأعمال، بالإضافة إلى إقامة دورات تدريب وتأهيل وإعداد الدراسات الاستقصائية والتحليلية وعقد جلسات نقاش مفتوحة مع أصحاب المشاريع والجهات الحكومية الداعمة.

كما حددت الدائرة عدداً من اللجان المعنية بتحقيق أهداف المشروع وهي: اللجنة التوجيهية لاتخاذ القرارات ووضع السياسات الداعمة، اللجنة الاستشارية المكونة من فريق متخصص يشرف على آليات العمل بين جميع الأطراف المعنية، ولجنة التعاون المكونة من قادة وفرق العمل مهمتها الإشراف على التنفيذ، ومكتب الدعم الخاص بمبادرة دائرة التنمية الاقتصادية في أبوظبي.

موقع المشاريع الصغيرة والمتوسطة ومساهمتها في اقتصاد أبوظبي

تشير بيانات مركز إحصاء أبوظبي إلى أن إجمالي أعداد المشاريع متناهية الصغر والصغيرة والمتوسطة في إمارة أبو ظبي تبلغ 54 ألفاً و234 منشأة وتمثل نحو 92% من إجمالي الشركات المسجلة في دائرة أبوظبي، فيما تبلغ القيمة الإجمالية لإنتاجها حوالي الـ 324 ملياراً و741 مليوناً و88 ألف درهماً، بنسبة مساهمة تبلغ حوالي الـ 34% من إجمالي الناتج المحلي لإمارة أبوظبي، وذلك بحسب إحصاءات عام 2018.

تتنوع أنشطة المشاريع الناشئة والصغيرة والمتوسطة والكبيرة ما بين التعدين واستثمار المحاجر والصناعات التحويلية ومشاريع إمدادات الطاقة والقطاع الصحي والنقل بالإضافة إلى نشاطها في قطاع المعلومات والاتصالات والتكنولوجيا المالية والتأمين والعقارات وأنشطة أخرى.

   وتشهد إمارة أبو ظبي في الأعوام السابقة اهتماماً كبيراً من الجانب الحكومي للمشاريع الناشئة والمشاريع الصغيرة والمتوسط، ومن ضمن ذلك إطلاق غرفة تجارة وصناعة أبو ظبي جائزة "المنشآت الصغيرة والمتوسطة" في عام 2018، بالإضافة إلى عدد كبير من مبادرات التمويل والتدريب والتأهيل لأصحاب المنشآت الصغيرة والمتوسطة، ويأتي هذا في إطار الخطة الحكومية الرامية إلى تنويع الاقتصاد الإماراتي والتقليل من اعتماده على الواردات النفطية وتحقيق أهداف التنمية المستدامة.

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Egypt's FRA allows capital contribution of commercial insurance companies to Takaful entities
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Egypt's FRA allows capital contribution of commercial insurance companies to Takaful entities

05 Jun 2020 Written by

Contributions would be considered as logistical support for Takaful insurance activity.

The Financial Regulatory Authority (FRA) has given authorisation for commercial insurance companies to make capital contributions to Takaful-branded insurance entities.

The contributions would be considered as logistical support for Takaful insurance activity.In Resolution No 53 of 2020, the FRA confirmed that Takaful insurance presents a different set of activities from the traditional commercial insurance.

Therefore, this case is not subject to Article 40 of the Insurance Supervision and Control Law No 10 of 1981, stating that “the insurance company may not contribute to the capital of another insurance company that is engaged in its activity in Egypt”.The FRA added that, since Takaful insurance is considered different in nature and practice from traditional commercial insurance, commercial insurance companies may contribute to the capital of Takaful insurance companies.

The FRA’s support to Takaful insurance activity has encouraged global entities to enter the Egyptian insurance market.Kenya Reinsurance Corporation (Kenya Re) has announced in March its intention to establish a Takaful reinsurance company in Egypt.

The FRA decision also prevents the legal confusion over the ownership structure of Misr Takaful Insurance – Hayat.Misr Holding Insurance and its subsidiaries, Misr Insurance and Misr Life Insurance, in partnership with the National Bank of Egypt, Banque Misr, and Misr Financial Investment Company, signed an agreement to establish Misr Takaful Insurance – Hayat. The agreement comes with a capital of EGP 150m.

According to the FRA data, Takaful insurance companies succeeded in increasing their share of the premiums collected over the course of 2019 to 15.1%, at a value of EGP 535.6m, compared to EGP 398.7m (9.1%) in 2018.

source: dailynewssegypt

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Abu Dhabi's ADQ launches Dh1.1bn fund to invest in Asian start-ups
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Abu Dhabi's ADQ launches Dh1.1bn fund to invest in Asian start-ups

01 Jun 2020 Written by

The fund will help early-stage Indian and Southeast Asian companies to set up base in Masdar City

ADQ, one of the region’s largest holding companies, launched a Dh1.1 billion venture fund to invest in early-stage Indian and Southeast Asian start-ups and help them set up a base in Abu Dhabi’s Masdar City.

Alpha Wave Incubation (AWI) Fund will be based at the emirate’s financial hub, Abu Dhabi Global Market, the company said in a statement on Wednesday. The programme will be managed by New York-based Falcon Edge Capital.

AWI will help the budding Asian businesses gain market access to the UAE and the broader Middle East North Africa region.

These companies will benefit from the “exceptional digital infrastructure” already in place as well as highly advanced regulatory frameworks and other R&D initiatives, it said.

“As a national champion for the Abu Dhabi government, we are working to embed a performance culture across our broad portfolio that includes many of our emirate’s most important strategic commercial entities,” Mohammed Hassan Alsuwaidi, chief executive of ADQ, said.

ADQ is looking to maximise long-term impact of its investment on society, and will invest in companies that are “pioneering cutting-edge technologies and developing new and innovative business models”, he said.

“Nurturing Abu Dhabi’s start-up ecosystem will attract entrepreneurial talent, create jobs and other opportunities, particularly for those working in data science, artificial intelligence and other knowledge-based industries,” Mr Alsuwaidi said.

Mayank Singhal, head of venture capital and technology at ADQ, said AWI will help the company invest in start-ups that will generate sustainable, long-term financial returns and bring young entrepreneurs to Abu Dhabi.

"We will aim to support them in ways that accelerate their development to create a new wave of winners in the tech landscape," he said.

"These start-ups will also benefit from access to ADQ’s leading companies in sectors such as healthcare, food and agri-business, utilities and FinTech.”

ADQ, formally known as Abu Dhabi Developmental Holding Company, has a portfolio of conglomerates, spanning key sectors of Abu Dhabi’s non-oil economy, including utilities, tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, agri-foods and financial services.

Its portfolio includes Abu Dhabi Power Corporation, Abu Dhabi Airports, Abu Dhabi Ports, Etihad Rail, Abu Dhabi Health Services (Seha), insurer Daman, media companies Abu Dhabi Media and twofour54 and Abu Dhabi National Exhibitions Company, among others.

Last week ADQ agreed to acquire a 50 per cent stake in Al Dahra Holding, an Abu Dhabi-based multinational animal feed and essential food commodities specialist firm, as it expands its portfolio of food and agriculture businesses.

The move is part of state-controlled ADQ’s strategy to support the country's agri-foods sector ecosystem and boost sustainable and diversified food supply in the UAE, it said in a May 13 statement.

In April, ADQ fully acquired National Petroleum Construction Company after buying 30 per cent stake it did not control from minority shareholder Consolidated Contractors International Company for an undisclosed sum.

Abu Dhabi–based NPCC is an engineering, procurement and construction company involved in a number of oil and gas projects in the GCC, South Asia and Southeast Asia.

source: thenational

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Morocco announces the end of transitory phase of the VOC program
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Morocco announces the end of transitory phase of the VOC program

31 May 2020 Written by

On 21th of May 2020, the Ministry in charge of the Moroccan VOC programme announced the end of the transitory phase.

For shipments arriving in Morocco after 19th of June 2020, a Certificate of Conformity (COC) must be provided for all subject products as part of the customs clearance process.

Whereas, on December 16, 2019, the Moroccan Ministry of Industry, Trade, and the Green and Digital Economy announced the introduction of new measures on products imported to the country.


The procedure called the Conformity Verification Program (VOC) is part of the implementation of Law No. 24/09 related to the safety of products and services.


The procedure was launched on February 1, 2020, whereby importers of the regulated products included in the regulations are required to submit a certificate of conformity issued by the authorized inspection bodies.

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Saudi Arabia makes improvements in global budget transparency index
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Saudi Arabia makes improvements in global budget transparency index

02 May 2020 Written by

The results of the survey by International Budget Partnership reflected recent efforts exerted by the Saudi government to enhance transparency and disclosure in public finance.

Saudi Arabia has made a marked improvement in terms of budget transparency and accountability, according to the Open Budget Index survey released on Wednesday.

According to the survey, conducted by International Budget Partnership (IBP), an international non-profit organization concerned with evaluating disclosure and transparency of general budgets worldwide, Saudi Arabia has advanced 18 ranks compared to the previous survey, after scoring 18 points compared to one point in the previous survey conducted in 2017.

The results of the survey reflected recent efforts exerted by the Saudi government to enhance transparency and disclosure in public finance.

Commenting on the result of the survey, Dr. Saad Alshahrani, deputy minister for macro-fiscal policies at the Ministry of Finance, highlighted the importance of this achievement that the Kingdom managed to realize within a short period of time and confirmed that with this progress, we aspire in the future to achieve a higher ranking that reflects efforts made in the framework of improving the quality of fiscal data and enhancing the level of transparency and disclosure thereof, which is one of the important tracks pursued by the government of the Custodian of the Two Holy Mosques in line with the Kingdom's Vision2030.

The Ministry of Finance has sought to develop its fiscal systems, providing the greatest possible amount of information about its fiscal policy, disclosing its fiscal and economic data and publishing relevant periodic reports to inform specialists, analysts and citizens in a timely manner.

This has also allowed the private sector and investors to plan ahead and make informed decisions.

Dr. Alshahrani said that the budget forum held annually by the ministry is an effective way to enhance communication and an important channel for identifying the best ways to develop the budget preparation process.

He also said that this forum underscores the importance of partnership between different government agencies to share challenges in preparing the budget and mechanisms to achieve the goals.

The forum is considered a successful initiative to inform the public finance stakeholders on the various projects of the finance ministry and related programs, and to provide training opportunities following the highest international standards.

The deputy minister added that the jump in the Kingdom’s score was the result of several concrete measures taken to enhance transparency. Since the launch of the Kingdom's Vision2030, the ministry has released many reports and has continuously developed its content on an annual basis according to best practices.

The reports address a broad base of specialized recipients and the general public inside and outside the Kingdom.

In 2017, the ministry issued the first detailed budget statement, quarterly (periodic) reports for the budget performance, the citizen’s budget, in addition to the publication of its medium-term fiscal framework. During the past two years, the ministry began periodically publishing the pre-budget statement and year-end report on its website.

Dr. Alshahrani explained that transparency is one of the important aspects of concern to international financial and investment institutions, impacting their investment decisions and is usually reflected in their reports.

He added that, in the past year, the Kingdom’s government joined the Special Data Dissemination Standard (SDDS) adopted by the International Monetary Fund, as well as implemented the Statistical Data and Metadata Exchange (SDMX) initiative on the national data page, making the Kingdom the first among the G20 countries adopting SDDS and to apply SDMX.

The general government coverage was also introduced in the presentation of fiscal data for the first time in the past year. Also, the National Fiscal and Economic Data Page was created on the website of the Ministry of Finance with the participation of the Saudi Arabian Monetary Authority and the General Authority for Statistics.

All of these measures contributed to a material and unprecedented shift in the levels of disclosure and transparency in the Kingdom, leading to an enhanced position on various international indicators and contributing to supporting domestic and foreign investment, as well as the credit rating of the Kingdom.

The Open Budget Index (OBI) is an important global tool, independently prepared every two years to assess the transparency of government budgets around the world.

Countries covered by the open budget survey are ranked according to their scores in the survey.

source: zawya

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Total gross deposits of private sector in UAE banks hit AED1.076 trillion in March
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Total gross deposits of private sector in UAE banks hit AED1.076 trillion in March

02 May 2020 Written by

The total gross deposits of the private sector in the UAE banks amounted to circa AED1.076 trillion by the end of March 2020, a 1.7 percent growth of AED18 billion from AED1.058 trillion in December 2019, figures by the Central Bank of the United Arab Emirates have shown.

These deposits account for around 58 percent of the total gross deposits held by the UAE banks, which stood at around AED1.852 trillion by the end of the same month.

In the meantime, the domestic credit to private sector amounted to AED1.149 trillion, a growth of 1.3 percent from AED1.134.6 trillion in December 2019.

The growth in private sector credit is a significant indicator of its contribution to economic activity and reflects increase in the sector's investment activity.

source: wam.ae

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Dubai Startup Hub Launches Weekly Digital Meetup Series To Support Entrepreneurs
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Dubai Startup Hub Launches Weekly Digital Meetup Series To Support Entrepreneurs

02 May 2020 Written by

The move is in line with its support of business continuity and commitments towards fostering entrepreneurship in the Emirate following the global novel coronavirus (COVID-19) outbreak.

Dubai Startup Hub, an entrepreneurship initiative of Dubai Chamber of Commerce and Industry, has taken its events online to support new members, as well as continue delivery of all its programs and activities digitally.

The move is in line with its support of business continuity and commitments towards fostering entrepreneurship in the Emirate following the global novel coronavirus (COVID-19) outbreak.

The digital initiatives are also geared towards helping startups sustain and grow amid challenging market conditions as a result of the ongoing pandemic.

Dubai Startup Hub will also launch an additional service to support startups with online mentorship during these extraordinary circumstances. The mentorship will include specialized entrepreneurship guidance and support with reviewing business models, improving and rehearsing investor pitches, and navigating the current business environment.

Natalia Sycheva, Manager of Entrepreneurship, at Dubai Chamber of Commerce and Industry, said in a statement that the smart transformation of services has become an urgent necessity for all institutions who serve innovators and entrepreneurs today.

“Organizing a digital networking platform and delivering educational and acceleration programs online is an important step that allows us to continue serving entrepreneurs at all times and enhances Dubai’s position as a global destination for entrepreneurship,” she said.

Sycheva added that entrepreneurs have been keen to use modern technology in exploring new business ideas and finding solutions to address current business challenges.

“The live interaction of participants with the moderators and among each other encourages them to explore new features and formats of this kind of webinars, which save time and effort, and facilitate a positive competitive environment,” Sycheva noted..

Dubai Startup Hub, launched by Dubai Chamber in 2016, embodies the value of public-private partnership to encourage innovation and entrepreneurship, and is a valuable resource for entrepreneurs in Dubai.

Being a part of the Dubai Startup Hub provides a multi-program platform for entrepreneurs from around the world to explore business opportunities in Dubai, while benefiting from a variety of programs and services.

source: entrepreneur

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Dubai Chamber Launches 10 Weeks Online Pitch Bootchamp for Smartprenuer 5.0 Competition Finalists
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Dubai Chamber Launches 10 Weeks Online Pitch Bootchamp for Smartprenuer 5.0 Competition Finalists

02 May 2020 Written by

50 startup finalists who qualified for the second phase of the Dubai Smartpreneur Competition have enrolled in 10-week online bootcamp

Dubai Startup Hub, the entrepreneur initiative by Dubai Chamber of Commerce & Industry, has launched the Smartpreneur 5.0 Online Pitch Bootcamp.

This, first-of-its-kind 10 week training program is for the 50 finalists who qualified for the second phase of the fifth Dubai Smartpreneur competition.

The specialized online training program will run from April 19 to June 30, 2020. This program has replaced the traditional two day training to ensure that these promising ventures are supported in the current difficult times, and that they are able to sustain and grow their business in 2020.

Entrepreneurs will benefit from more than 100 individual and group online training workshops, which will be organized throughout the two and a half month program.

On the sidelines of the training program, Dubai Startup Hub also launched the Startup Pitch Guide 2020 on how to deliver an impactful investor pitch..  Dubai Chamber has prepared this guide based on global best practices that are compatible with the business environment in the emirate. Participants in the competition and other entrepreneurs can benefit from the guide to achieve positive, encouraging results when presenting their ideas to investors.

The training program includes a diverse mix of activities, including working on pitches by using the Chamber’s guide,  participating in a series of online training workshops and webinars with winners and previous participants of the Dubai Smartpreneur Competition.

The training program also includes 4 weeks of one-to-one work with startup business coaches to improve business and financial models of the startups and running a simulation of the contest with the finalists as judges.

 Natalia Sycheva, Manager of Entrepreneurship at Dubai Chamber pointed out that this training program is the first of its kind, innovative training model that takes into account the exceptional circumstances we are in and how to enhance the capabilities and skills of the entrepreneurs and startups to sustain and grow in such situations.

It also demonstrates the pioneering role of Dubai Chamber in providing innovative support for entrepreneurs in uncertain times rather than stopping these services.

She stressed that the Smartpreneur entrepreneurs are different as they are vetted, well-trained, and are guided to build a real business.

Sycheva also remarked on the launch of the Guide which is prepared by experts and is a training and educational tool for entrepreneurs and startups on how to present their ideas.

The Smartpreneur competition aims to assist technologyentrepreneurs to be part of Dubai’s strategic initiatives, in addition to enhancing the role of these entrepreneurs in the evolving business ecosystem of the Emirate and its position as the global hub for innovation.

More than 1,600 participants have gone through the Dubai Smartpreneur Competition over the last four years, which is reflective of its effectiveness and influence in attracting an increasing number of international startups.

Dubai Chamber launched Dubai Startup Hub in 2016 as an online platform for startups, entrepreneurs, developers, venture capitalists and students, enabling them to learn about new opportunities and create new partnerships that stimulate economic growth.

Dubai Startup Hub provides a multi-program platform for entrepreneurs from around the world to explore business opportunities in Dubai, while benefiting from a set of programs and services such as Market Access Program, Emirati Development Program, Dubai Smartpreneur Competition and Co-Founder Dubai Program, among others.

source: dubaichamber

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Cairo Angels announces its top 4 finalists for its recent initiative We've Got Your Back In COVID-19
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Cairo Angels announces its top 4 finalists for its recent initiative We've Got Your Back In COVID-19

01 Apr 2020 Written by

Cairo Angels, a global network of angel investors focused on supporting startup opportunities in Egypt, the Middle East and Africa, is delighted to announce its top finalists who will move to the final round and pitch their solution virtually on Wednesday at 6:00 PM CT.

Finalist Startups are: 

  • Kofoof under iNet.works, founded by Mohammad AboAli, iNet.works is a software company that specializes in business software development that helps worldwide businesses succeed. 

- Markazzy, founded by Omar Nasser, the first platform in Egypt that helps homeowners find, choose and use home improvement products with ease and convenience. 

- NIoTEK, founded by Anas Naguib, NIoTEK is a startup that joins hardware and Software and apply them in Internet of Things (IoT) to help companies make better. 

- Tactful AI, founded by Mohamed Elmasry, Tactful is AI-powered and data-centric customer engagement technology. Unlike traditional contact center and helpdesk solutions that only optimize the workload, Tactful uses AI and real-time analytics to provide 360-view of the customer and empower customer care agents to deliver personalized and rewarding experience across digital platforms.

The initiative was launched by Mr. Ayman Ashour, Advisory Board Member at The Cairo Angels has decided to support the campaign  #نحنا في ضهرك ("We’ve Got Your Back") one week ago with EGP 100,000, which aims at helping elderly or vulnerable people living alone complete their shopping and errands. lowering their risk of infection from the novel coronavirus.

The network is seeking to establish a secure and updated database for volunteers, whose identity can be verified through social media accounts and ID cards, with the inclusion of reviews.

Zeina Mandour, General Manager at The Cairo Angels said “We are launching a series of activities to support startups in MENA region.“ 

Also Zeina highlighted that Cairo Angels believes in the importance of solidarity with the most vulnerable and the idea of this campaign is to bring the ingenuity of startups, technology for a societal support and solidarity effort at this time of global crisis. 

Finally she mentioned “We at Cairo Angels are grateful for the support of our partners Mayday and Microsoft who have agreed to provide additional important awards to the ultimate winner of the competition.“ 

The winner will be announced on Thursday after the voting is done and will start working directly with The Cairo Angels team who will provide mentorship and support for his solution besides the funding.

source: magnitt

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