AURAK’s Entrepreneurship Hub creates an ecosystem to empower students and community to execute business ideas

AURAK’s Entrepreneurship Hub creates an ecosystem to empower students and community to execute business ideas

Ras Al Khaimah, UAE: The Entrepreneurship Hub at the American University of Ras Al Khaimah (AURAK) is intensifying its efforts to create an entrepreneurship ecosystem through which AURAK students, alums, and the community, in general, can execute their business ideas.

Launched in the Spring of 2021, AURAK's Entrepreneurship Hub is a joint initiative of the School of Business's Centre for Entrepreneurship (ACE) and the School of Engineering's Center for Information, Communication and Networking Education and Innovation (ICONET). The activities of the Entrepreneurship Hub are in sync with UAE's vision of supporting the growth of 8,000 Small and Medium Enterprises (SMEs) and startups by 2030, according to the Ministry of Economy.

The students and alums can incubate their startups within the AURAK Center of Entrepreneurship. AURAK provides free licenses to students through the RAK Department of Economic Development (DED), in addition to free office space and regular guidance and advice from AURAK mentors.

ICONET enables students to evaluate technical feasibility. In addition, ACE also provides students with a free business plan evaluation service, using the in-house developed AI-enabled innovative evaluation system called SECURE.

Prof. Hassan Hamdan Al Alkim, President of AURAK, said: "Cognizant of the fact that SMEs form the economic backbone of most countries,