The Dubai Entrepreneurial Hub has announced a new financial initiative in collaboration with Mastercard, supported by Bemo, aimed at assisting startup founders and small to medium enterprises (SMEs). This initiative is designed to empower entrepreneurs to reduce costs, enhance cash flow, and improve operational management efficiency.
Key Benefits for Qualified Business Owners
Under this initiative, eligible business owners can access benefits worth over AED 10,000 in the first year. These include a full year of free access to the Bemo expense management platform, a cashback of up to 2% on foreign exchange transactions and advertising expenses via Mastercard corporate cards, along with a range of exclusive offers and advantages.
Operational Efficiency and Cost Recovery
The programme allows participating organizations to recover previously hidden costs, ranging from AED 500 to AED 1,200 monthly. Furthermore, by automating expense management, businesses can save over 60 hours of administrative work monthly, while reducing the month-end account closing period from nine days to three days in some cases.
Bridging Gaps in Financial Management
Haadi Badri, Executive Director of the Dubai Economic Development Corporation, the economic arm of Dubai’s Department of Economy and Tourism, stated, “This initiative provides tangible value by reducing costs and enhancing financial management controls, providing clearer visibility on expenditures. This enables entrepreneurs to focus on their core priorities, which revolve around growing their businesses and expanding their operations. It reflects our commitment to building a resilient and supportive ecosystem for entrepreneurs, empowering their success and contributing to the goals of Dubai’s Economic Agenda (D33).”
Strategic Partnership for Enhanced Support
Saad Al Qarkawi, Vice President of the Dubai Chamber of Digital Economy, commented, “The Dubai Entrepreneurial Hub aims to enable startup founders to easily access the right support, strategic partners, and essential tools at the right time. This strategic partnership with Mastercard, backed by Bemo, underscores our commitment to providing high-impact practical solutions that meet the operational needs of startups and SMEs.”
A Commitment to Economic Development
In light of this initiative, Mark Elliott, Regional President for Eastern Arab Region at Mastercard, stated, “We are dedicated to our clear mission of enhancing economies and ensuring that businesses of all sizes keep pace with development and growth. For over 40 years, we have worked alongside government entities, banks, fintech companies, and the business community in Dubai to foster the development of a robust and sophisticated trade ecosystem.”