The Khalifa Fund for Enterprise Development (KFED), launched the Abu Dhabi SME Hub, a new knowledge platform dedicated to supporting SMEs and startups in the UAE.
H.E. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED) and Khalifa Fund said “The Abu Dhabi SME Hub provides support for all the stages of development of the SMEs, empowering them to work within an attractive entrepreneurial environment, and enabling them to grow, thrive and innovate both in the context of best business practices and new technologies and digital solutions.
H.E. Al Shorafa added “The Hub will provide information and data relevant to the SME sector, as well as relevant updates on initiatives and announcements from the sector, and best business practices through engaging a multi-format educational content, implementing market-tested strategies and technologies through partnerships with key market players and connecting with the wider business ecosystem, including government entities, regulators, investors, mentors and peers.”
H.E. added “This platform will provide an engaging, multi-format content produced in English and Arabic and intended to educate and entertain entrepreneurs in a variety of topics including: innovation, fundraising, finance and cash management, product development, marketing, and organizational scaling.
H.E concluded “Our overarching objective is to further support the UAEs SME ecosystem through innovative digital platforms that will empower entrepreneurs. Today there are more than 400,000 SMEs representing over 60 percent of the UAE non-oil economy. They provide employment opportunities for 86 percent of the workforce in the private sector. It is expected that the SME’s share of the private sector in the non-oil economy will reach 70 percent.”