Dubai Chamber highlights trends reshaping construction sector

Business Bureau, Gulf Today

Dubai Chamber recently organised at its headquarters the Big 5 Breakfast Briefing which familiarised visiting delegates with Dubai’s economy, business environment and construction sector, which has gone through a transformation over the last few years.

The annual briefing, attended by visiting delegates from various countries, provided an ideal platform for industry stakeholders to network and learn more about key trends reshaping Dubai’s construction sector, as well as market challenges, opportunities and forecasts.

Addressing delegates during the event, Hassan Al Hashemi, Vice President of International Relations at Dubai Chamber, noted that this year’s briefing comes as time when the UAE’s construction sector is witnessing a rebound in activity with Dubai accounting for the most of the momentum.

Al Hashemi described Dubai as a land of opportunity for stakeholders in the global construction industry and highlighted the various competitive advantages offered by the emirate such as its world-class infrastructure, business-friendly environment, adding that Dubai’s skyline has transformed over the last few years, with so many exciting infrastructure projects now coming to fruition just in time for Expo 2020 Dubai.

Meanwhile, Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has launched the sixth cycle of the Dubai Smartpreneur Competition, which is open to startups offering innovative solutions in the categories of Sustainability, Opportunity and Trade.

A virtual launch ceremony, hosted by the Chamber recently, was attended by Dubai Chamber officials, industry experts, and members of the local startup community, as well as previous competition winners and contestants.

Open to all entrepreneurs in the UAE and abroad, the competition gives the opportunity to become part of Dubai Government’s strategy to elevate the city into a global platform for innovative startups.

It also falls in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform the emirate into one of the world’s smartest cities. Startups must submit their entries through the Dubai Startup Hub website by September 30th, 2021.

In his welcome remarks during the ceremony,  Hamad Buamim, President & CEO, Dubai Chamber, noted that the annual competition is one of the most successful initiatives launched under Dubai Startup Hub to date, which has supported the Chamber’s comprehensive entrepreneurship strategy of empowering entrepreneurs and providing them with the knowledge and tools they need to thrive and grow.

Over 2,000 smart business ideas were submitted over the last five cycles of the competition, he revealed, adding that a surge in the number of international submissions was also observed in recent years, reflecting Dubai’s status as a magnet for promising startups from around the world.

The launch ceremony featured an informative presentation outlining the criteria for submissions and the main benefits of participating, which include AED 150,000 in cash prizes for top 3 winners, a four-day bootcamp for the top 30 startups, access to investors and business partners, the top 10 candidates will have an opportunity to pitch live at Expo 2020 Dubai.

Previous Smartpreneur winners Ferkah Lakhany, Co-founder of Arabee; Amine Staali, Co-founder and Chief R&D Officer, ProvenMed; and Kareem Ayyad, Founder of Ceribian, joined a panel discussion where they spoke about their experiences and the benefits they gained from participating in the competition.

Other panellists included Tala Al Ansari, Director of Innovation Ecosystem – Expo 2020 Dubai; and Begona De Albornoz, Corporate Citizenship Lead  - Middle East for Accenture; and Omar Khan, Director of International Offices, who shared their insights on the challenges and opportunities associated with emerging technologies.

Following the submission deadline, entries will be evaluated and shortlisted with the selected candidates then qualifying for the training phase of the competition. At the final stage, the remaining candidates will be trained and guided before the top 3 winners are announced at an awards ceremony at Expo 2020 Dubai.

Applications for the 6th cycle of the Smartpreneur Competition are now open and can be submitted here.

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

Established in 1965, Dubai Chamber of Commerce & Industry is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.