Meydan One, SMEDistrict to jointly support budding entrepreneurs

RetailME Bureau

Meydan One, a next-generation lifestyle and retail destination, has announced its partnership with SMEDistrict, the Dubai-based incubation platform, that aims to bring to life a comprehensive start-up development programme focused on the retail and F&B sectors.

The initiative aligns with Meydan One’s strategic priority to offer unmatched opportunities for up-and-coming entrepreneurs in fashion, beauty and F&B to establish and grow their brands. SMEDistrict will oversee the new incubation programme that begins receiving applications for monthly or annual memberships from Q4 2019.

Participating entrepreneurs will be able to rent retail space at premium locations in Meydan One at extremely competitive commercial terms. In addition, the start-ups will have access to a range of support services and benefits across four stages of the programme, including mentoring, evaluation, evolution and graduation

Speaking about the benefits of the incubation programme, Fahad Abdulrahim Kazim, vice president of Meydan Malls at Meydan Group, says, “Dubai is spearheading the region’s innovation drive and attracting some of the best start-up talent from around the world. Meydan One is committed to supporting this wave of entrepreneurship, especially in the retail and F&B segments, which are largely overlooked in the local start-up incubation ecosystem. Our partnership with the incubation expert SMEDistrict allows us to tap into the right expertise to enable talented local entrepreneurs to realise the full potential of their businesses. Through offering affordable retail space right at the outset of the programme, we seek to encourage participants to gain real-world experience while they evolve their business models. We envision Meydan One as a place for everyone and a launchpad for home-grown brands that can make an impact in the region and the rest of the world.”

The incubation programme will encompass a fully enabled plug-and-play package, including marketing, fit-out, space rental, business development, workshops and business education, as well as business acceleration opportunities to connect with established private sector organisations and government entities. As part of the Meydan One tenant community, the start-ups will also feature in the destination’s events and have the chance to showcase their offerings at prominent entrepreneurship festivals across the UAE.

“We are pleased to collaborate with Meydan One on this exciting new incubation programme. The initiative levels the playing field through providing start-ups with a tangible platform to position their brands. In other words, it allows them to skip the line on entrepreneurial hurdles, such as accessible infrastructure and guidance, that can prevent great business concepts from becoming a reality,” adds Aynour Hussein, founder and CEO of SMEDistrict.

Meydan One seeks to be a place for any and every business to establish itself and thrive, with no conditions attached. Through a seamless set-up process, businesses within Meydan One’s Free Zone Programme will be able to enjoy the benefits of operating as part of the Meydan Free Zone. This includes 100% ownership, and the ease of doing business in an enabling environment, with high footfalls and a multinational customer base.