What is the “Dubai International Growth Fund for SMEs”?
The “Dubai International Growth Fund for SMEs” is a strategic initiative launched by the Dubai government in collaboration with Emirates NBD. It is a Dh500 million fund aimed at empowering small and medium-sized enterprises (SMEs) to expand and thrive in international markets. This initiative forms part of Dubai’s broader efforts to support entrepreneurship and strengthen the emirate’s position as a global business hub
Why was the fund launched?
The fund is designed to:
- Accelerate the growth of SMEs by providing financial and strategic support.
- Promote innovation and competitiveness among local businesses.
- Align with Dubai’s vision of fostering a sustainable, diversified economy driven by SMEs.
- Establish Dubai as a leader in global entrepreneurship, leveraging its position as the world’s top-ranked environment for entrepreneurship according to the 2024 Global Entrepreneurship Monitor report
How are SMEs benefitted?
SMEs participating in this program can access:
- Financial Support: Flexible funding to scale operations and explore new markets.
- Market Expansion Opportunities: Assistance in entering and competing in international markets.
- Networking and Partnerships: Connections to key stakeholders within Dubai’s entrepreneurial ecosystem.
- Expert Guidance: Support from Emirates NBD and other stakeholders to optimize growth strategies
Steps to Avail the Support
- Eligibility Assessment: SMEs need to verify their eligibility based on criteria provided by the Dubai Government and Emirates NBD.
- Application Submission: Businesses can apply through Emirates NBD or relevant government channels.
- Review and Approval: Applications are reviewed for alignment with the fund’s goals, such as innovation potential and scalability.
- Funding Disbursement: Approved SMEs receive funds and access to associated support services
Need More Info: Please visit ENBD page to know more and apply for the fund
