DUBAI – Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has signed a memorandum of understanding (MoU) with the World Entrepreneurship Forum (WEF) to host the UAE chapter of the forum to promote entrepreneurial idea exchange and networking in the region. Dubai will be the first city in the Middle East to host a local chapter of the World Entrepreneurship Forum in December 2013 and Dubai SME will be responsible for coordinating the local chapter through co-shaping policy ideas with regional key stakeholders to influence change and advancing entrepreneurship as a core strategy for socio-economic development. The forum brings together key actors of the entrepreneurial ecosystem from a pool of entrepreneurs, social entrepreneurs, stakeholders, service providers, experts, academics, and politicians selected for their contribution and impact to society. The local chapter of the World Entrepreneurship Forum aims at bringing together all stakeholders in any given country to contribute to the forum's mission: “Promote and accelerate entrepreneurship locally as a way to create wealth and social justice, to prepare the world of 2050.” Building on Dubai's position as a hub of innovation and entrepreneurship, Dubai SME and the World Entrepreneurship Forum will work towards putting together a well-rounded local chapter that will advance the forum's mission and help entrepreneurship in the Middle East and North Africa move to the next level. Abdul Baset Al Janahi, Chief Executive Officer of Dubai SME, said: “Dubai has seen major strides in growing into a modern entrepreneurial hub recently in the spheres of policy and strategy. Integrating fast-evolving economic and financial knowledge into our rich entrepreneurial traditions is essential to the success of our efforts. The World Entrepreneurship Forum will be a perfect fit with Dubai SME's efforts in this direction.” Tugrul Atamer, Executive Chairman of the World Entrepreneurship Forum, added: “Our local chapters have the very important mission to source successful entrepreneurs, academics, experts and policy makers, and identify best practices to be showcased at an international level. Dubai happens to be an excellent place to gather all key stakeholders of the region”. — SG
