Sandooq Al Watan and Emirates NBD have signed a memorandum of understanding (MoU) under which the bank's business incubator will join the National Incubator Network. The agreement aims to open new avenues for cooperation and expertise exchange, benefiting UAE entrepreneurs entering the business world.

The MoU was signed by Yasser Al Gergawi, Director-General of Sandooq Al Watan, and Hemant Julka, Group Head of Fintech and Digital Partnerships at Emirates NBD.

Al Gergawi stated that the bank, with its vast expertise in entrepreneurship, SME support, and aiding Emirati youth in establishing their businesses, represents a significant and valuable addition to the network. This initiative, established by Sandooq Al Watan under the patronage of H.H Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, promotes collaboration among incubators across the UAE.

He highlighted Sandooq Al Watan's openness to partnering with various entities across the UAE to serve Emirati youth and achieve the fund's strategic goals.

Through the National Incubator Network, Sandooq Al Watan aims to offer comprehensive support and development for SME initiatives led by UAE youth in fields such as administration, commerce, technology, and innovation. The network also focuses on developing the skills of entrepreneurs and small investors to ensure the success of their ventures.

Al Gergawi underscored the importance of specialised programmes conducted by the network, such as entrepreneurship training for university and college students and young participants in incubators.

Julka, in turn, commented, "This partnership focuses on growing the talent pool within the programme while advancing our shared objective of fostering innovation and contributing to the UAE's GDP growth aspirations."