Challenging job market makes entrepreneurship the new ‘Plan A’ as @ADU_Tweets ADU’s Enterprise center becomes a magnet for aspiring business magnates

Challenging job market makes entrepreneurship the new ‘Plan A’ as ADU’s Enterprise center becomes a magnet for aspiring business magnates 

Program’s reputation attracts some to fly in weekly from abroad for lectures and fresh ideas

While entrepreneurs have tended to first enter the job market to gain experience and then apply it to their own businesses, aspiring entrepreneurs in Abu Dhabi are saving years or even decades of their lives by gaining expertise in entrepreneurial programs and diving straight into the business world. Interest in entrepreneurship is at an all-time high due to the job market’s diminished appetite for fresh graduates and the rise of Abu Dhabi as a lucrative hotspot for investors.

Arguably the most popular of these programs is Abu Dhabi University’s Innovation and Entrepreneurship Center “ADU Enterprise” - as evidenced by the fact that some participants have even opted to fly in from outside the country for weekly lectures.

Dr Nabil Ibrahim, Chancellor of Abu Dhabi University explained: “Our program is reversing the trend by the vast majority of start-up businesses that fail within a five year time frame by incubating “out of the box” thinkers who are the architects of tomorrow’s business empires. We help entrepreneurs to flourish in any business climate by giving them a supportive ecosystem connecting them to the business community, investors and the wider economy of the UAE and beyond.”

Khaled Alnahedh, a 27-year-old start-up owner from KSA weighed in with his take: “I went to the extent of flying from Riyadh to Abu Dhabi for weekly lectures, because ADU’s Enterprise program equipped me with precious skills such as making irresistible pitches to investors, crafting an innovative business model and looking at the market from all angles. Now I am looking beyond simply starting a company, and am aiming to have several businesses.”

An emerging pattern is that entrepreneurial skills are evolving from a luxury into a necessity for those currently in non-business career paths like engineering, as it fast tracks their promotion to senior executive positions.

Ibrahim Salem Bin Madhi, 25, a Mechanical Engineering student at ADU, pointed out: “What makes the learning process so enriching is the diversity of methods: blending group networking and prominent guest speakers, presentations and lively discussions, hands-on demonstrations, business plan guidance and other tools that transform the lecture room into a boardroom. It’s not just about what the program gives you but also what it takes away: because it takes away all fear of venturing out solo into the corporate jungle.” 

However knowledge is only one side of the equation, as many would-be entrepreneurs fear it will take astronomical amounts to finance their dream. Dispelling this myth, the Enterprise program is showing participants how to make maximum impact with minimal funds.

Fahimeh Mohammad Rastegar (25), who has just started her own interior design company, commented: “The common misconception is that interior design is only for a wealthy clientele, but I have learned to distinguish my brand by targeting middle-income yet style-savvy trendsetters. The program taught me that it’s not about big budgets but big ideas.”

According to Lama Sawaf (47), an electrical engineering graduate, even those who are already entrepreneurs should consider upgrading their expertise: “I learned unconventional ideas about building an enterprise that had never crossed my mind before, and also got constructive feedback on the business plans I already had.”

With SME’s contributing the overwhelming majority of private sector jobs, it is anticipated that the spiraling interest in entrepreneurship will boost the job market and the wider economy.