The UAE’s Higher Colleges of Technology will train 2,000 students over five years on how to establish and develop companies, in partnership with the New Economy Academy.
The programme will support 400 students annually and forms part of a national entrepreneurship campaign aimed at preparing 10,000 Emirati men and women during the same period, according to the announcement.
Training will cover the fundamentals of entrepreneurship and company formation in the UAE, including licensing procedures, support organisations, available incentives, and legal and tax requirements. Students will also learn how to use artificial intelligence in product development, business planning and company management, as well as how to analyse markets, assess competitors and evaluate opportunities in targeted sectors.
Students with disabilities who have projects they want to develop can also participate.
The first stage will help students identify market needs and prepare financial and marketing plans. They will then present their ideas to a joint judging panel from the colleges and academy, which will assess their feasibility and market fit.
Ideas considered viable will move to a second stage focused on turning them into businesses. The colleges will provide business incubators in several UAE emirates to support students during their studies and after graduation. The two organisations also plan to explore expanding the partnership.
Source: Al Bayan
