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A brand-new incubator and accelerator dedicated to helping develop healthtech businesses has been unveiled in the United Arab Emirates.
Dubai SME, which is part of the Department of Economic Development of the Government of Dubai – commonly referred to as Dubai Economy – has launched “Ztartup”, which will operate out of the emirate’s Healthcare City area.
“The new incubator is dedicated to healthcare technology, including digital media and augmented and virtual reality used in healthcare, [plus] digital emergency and safety technology,” the government’s official news agency stated. “The centre will also help the entrepreneurs develop and improve smartphone applications for the healthcare and fintech sectors.”
However, according to Ztartup’s website, it will not only focus on healthtech and fintech, but also on “tradetech, legal tech, real estate tech,” and others.
MobihealthNews has reached out to Ztartup for clarification.
THE LARGER CONTEXT
Ztartup’s incubator will reportedly focus on evaluating business ideas as well as the skills of the entrepreneurs involved, helping members launch their venture. Other support includes networking and connecting entrepreneurs to specialists and mentors, training, workspaces, and more. Meanwhile, the accelerator will focus on expediting companies and helping them scale up.
“There should be balanced support from the public as well as private sectors to enhance the role of small and medium enterprises [SMEs]; create new market opportunities [for] startups, open diverse financing channels for entrepreneurs with innovative ideas, and formulate systems and laws for crowdfunding,” said Abdul Baset Al Janahi, CEO of Dubai SME. “The private sector plays a major role in supporting startups through its community initiatives, which contributes to accelerating economic growth rate.”
He continued: “Startups in Dubai have won global attention due to the significant acquisitions that took place in recent years, furthering the role of Dubai as a knowledge centre and innovation hub in the region.”
ON THE RECORD
“Our aim is to develop a new ecosystem that supports tech entrepreneurs. The impact of this new system will be seen on future businesses, technical skills of entrepreneurs and overall economic growth in the UAE,” said Ztartup’s founder and CEO, Mohamed Shafi. “Ztartup seeks to incorporate entrepreneurial initiatives into incubation programmes and business accelerators to ensure their success and sustainability. Ztartup will also connect them to experts who can assist them to advance their tech innovations.”