10,000 Emiratis will get training to turn ideas into real businesses under new initiative

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The wider campaign also seeks to attract 10,000 people from outside the UAE to establish and grow their businesses in the country ...

Students at the Higher Colleges of Technology (HCT) will receive training to turn their business ideas into potential start-ups under a new partnership with the New Economy Academy, announced in Sharjah on Friday.

The initiative aims to train 2,000 HCT students in entrepreneurship, equipping them with practical skills to establish and manage businesses in the UAE, including while they are still studying.

Speaking at the announcement, Laila Faridoon, chief executive officer of the New Economy Academy, said the programme forms part of a national entrepreneurship campaign launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai.

The campaign aims to train 10,000 Emiratis over five years, with HCT contributing 2,000 students towards that target. “We will train 400 students from HCT annually, so that we reach 2,000 over five years,” Faridoon said.

She added that the wider campaign also seeks to attract 10,000 people from outside the UAE to establish and grow their businesses in the country.

The training will focus on the practical questions aspiring entrepreneurs face when starting a company: Which rules apply? What support is available? And what tax requirements do they need to understand?

Faridoon said students would learn about establishing companies in the UAE, the authorities and organisations that can assist them, and the facilities available to entrepreneurs.

Artificial intelligence will also feature in the programme, with participants exploring how it can support product development, business planning and company management.

Another key component is understanding the market before launching a venture. Students will learn to interpret market data, identify competitors and potential customers, and assess whether they have the capabilities to compete in their chosen sector.

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