The Mohammed bin Rashid Al Maktoum Foundation (Foundation) has organised the first meeting for the Arab incubators network aimed at enhancing exchange of knowledge and education.

The meeting was held during the Entrepreneurs Forum in Beirut, which was organised on May 21 and 22 by the Foundation in association with Berytech Technological Pole, one of Lebanon’s pioneering incubation and business development centres.

The incubators meeting also focused on ways to foster relationship among business leaders from regional countries.

“The first meeting of the Arab incubators Network is a result of our committed endeavour to provide region-wide support to members, encourage entrepreneurial activities through innovation, and support the development of new companies,” said Adel Al Shared, vice-chairman and managing director of the Foundation.

“This initiative will create more employment opportunities through an environment that stimulates creativity and leadership among the youth, which is one of our key objectives,” he added.

“We are optimistic these meetings will lead to the establishment of new business incubators in universities, as well as promote the growth of the SME sector in the region.

"We believe such gatherings provide an opportunity to meet with business incubators on a platform to share global best practices, while triggering the development of viable initiatives in the region.”

Through the Arab Incubators Network, the Foundation aims to provide a platform for regional leaders and empower emerging institutions to establish training centres and educational organisations to disseminate knowledge.

The business incubators that participated in the Beirut meeting included regional leaders such as Morocco's Al Akhawayn University, Bahrain Business Incubator Centre at Bahrain Development Bank, Palestine Information and Communications Technology Incubator (PICTI), Lebanon's Berytech, Syrian Computer Society - ICT Incubator, and the Higher Colleges of Technology – UAE.

Over 70 exhibitors participated in the region’s first entrepreneurs’ forum, showcasing their products and services. Trade participants represented ICT services, finance and risk management, auditors, consultants, trainers, advertising, branding, multimedia, business development centres, NGOs, chambers of commerce, and government support agencies. – TradeArabia News Service