Abu Dhabi's Khalifa Fund launches tech platform to guide wannabe SME entrepreneurs
AI Mentor will help owners with their business planning needs
Dubai: Abu Dhabi's Khalifa Fund has launched a tech platform - AI Mentor - to help startup and SME entrepreneurs during the business planning phase. This is done in partnership with StartAD.
AI Mentor will "guide" potential entrepreneurs through the process required to submit a business plan for funding, as well as receive mentorship and training as a Khalifa Fund applicant. It will also create the potential to expedite the planning process phase, and improve the overall quality of business proposals. The AI Mentor is available exclusively to Khalifa Fund applicants, but will be accessible to the wider public at a later stage.
"Our objective is to further support the UAE’s SME ecosystem through an innovative digital platform that will empower entrepreneurs," said Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development.
Info in hand
As a value add, the platform will help users gain access to market information, research, reports, how-to-videos, articles and direct feedback from expert business counsellors. The digital platform will also feature a fully automated AI chatbot for users that require instant feedback.
"The AI Mentor has been developed in adherence to international best practices, which will provide entrepreneurs with easy access to knowledge-based resources whilst simultaneously allowing SMEs to increase their efficiencies," said Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development. "This, in turn, will result in the quick turnaround of new start-ups throughout the UAE."