Dubai Next allures more than 350 contributors and approves 62 campaigns

Dubai Next, which is a digital crowdfunding platform that has attracted many startup ideas and young innovators, is now anticipating a rise in fund-seekers and donators following the country's recently approving a federal system for such digital platforms.

Dubai Next, which is a digital crowdfunding platform that has attracted many startup ideas and young innovators, is now anticipating a rise in fund-seekers and donators following the country’s recently approving a federal system for such digital platforms.

Dubai Next was launched in May 2021 and managed by Dubai SME is now attracting many new innovators and has already authorised eight startup concepts that will raise the required funds.

Advertisement

CEO of Dubai SME, Abdul Baset Al Janahi, said, “Crowdfunding has significantly impacted ushering in a new generation of entrepreneurs in the UAE. It provides an alternate financing choice and an outstanding opportunity to turn startup ideas into possible projects. Students who are aged 12 and above may create campaigns on Dubai Next, and the campaigns seen so far are diverse and creative.”

Crowdfunding includes small amounts sourced towards the financing of a single commercial project. Any individual with a creative project or idea can create a campaign on Dubai Next and seek donations from donors.

The not-for-profit platform is open to people of all ethnicities.

Al Janahi said, “The Dubai Next experience proves that crowdfunding can encourage our growing youth population to pursue entrepreneurship, thus steering in a new generation of entrepreneurs and ultimately positioning Dubai as the worldwide hub of innovative enterprise.”

Presently, Dubai Next has 398 donators and 62 approved and running campaigns, while the total number of campaigns reported to date is 1,570.

During the first three months and till now, the campaigns have increased by 50%, while contributors have increased by 60%.

Advertisement

The Deputy CEO of Dubai SME, Saeed Matar Al Marri, said, “Crowdfunding provides access to funding for a considerable segment of society, particularly the younger generation, and facilitates financing amongst entrepreneurs, their family and friends, and the broader community. Ideas submitted on Dubai Next go through viability testing before it moves to the funding stage, thus minimising future threats. Dubai SME also supports campaign owners in marketing their idea among the target contributor groups.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

Gault&Millau conducts its inaugral event in Dubai

The Gault&Millau UAE has conducted its first event in the region with a special invitation-only celebration held at Burj Al Arab Jumeirah in Dubai.

At least 2500 died while crossing the Mediterranean in 2023

United Nations agency on refugees said that more than 2500 were dead and missing, while 186,000 crossed the Mediterranean in 2023. Most of these people are refugees who every year try to reach Europe for a better future including cyprus.

Disabled Emirati student get top position by scoring 98.4% in Ras Al Khaimah in summer exams

An Emirati student, Ahmed Al Dahmani, aged 17, has got the highest marks in Ras Al Khaimah by getting a score of 98.4% in the summer exams.

Recent

St Kitts and Nevis: PM Terrance Drew hosts Pre-Labour Day Meeting

Dr Terrance Drew - The Prime Minister of St Kitts and Nevis, has shared a glimpse of the Pre Labour Day meeting held in Halfway Tree Constituency Number 04 on the sidelines of the Labour Weekend Celebrations 2023. 

PM Philip J Pierre welcomes Saint Lucians to Jazz and Arts Festival

Philip J Pierre - The Prime Minister of Saint Lucia has expressed his immense joy and pleasure regarding the return of the ‘Jazz and Arts Festival’ in the country, which commenced at the Mindoo Philip Park yesterday (Friday) on May 5th, 2023. 

Dubai’s second tallest building, Marina 101 about to complete

The Real Estate Regulatory Agency (RERA) at Dubai Land Department (DLD) said the second-tallest building in Dubai, located behind the Burj Khalifa, Marina 101, is "close to completion."