UAE's Higher Colleges of Technology to Train 2,000 Students to Start Their Own Companies

The programme is part of the national entrepreneurship campaign "UAE: The World's Capital of Entrepreneurs", launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. Dr Laila Faridoon, chief executive of the New Economy Academy, said the campaign aims to prepare 10,000 Emiratis over the same period and to bring 10,000 entrepreneurs from abroad to set up businesses in the UAE.

Students will take the core track of the academy's Emirati entrepreneurship fundamentals course. It covers business models, financial planning, marketing and pitching, as well as the practical steps of setting up a company in the UAE, from licensing and support bodies to legal and tax requirements. Faridoon said the training includes using AI for product development, drafting business plans, managing companies, analysing market data and assessing competitors. Students with disabilities who have projects they want to develop can also apply. The course combines online and in-person training.

Aisha Markhan, HCT's acting deputy head for employment and the knowledge economy, said students will present their ideas at the end of the training to a panel drawn from both institutions. The panel will judge whether the ideas can be carried out and whether there is a market for them. Ideas that pass move to a second stage focused on turning them into businesses, supported by HCT incubators in several emirates during or after students' studies.

Markhan said HCT updated its strategy four years ago so that starting a business sits alongside employment as a career path for graduates. She said the colleges and the academy will look at expanding the partnership.