The Western International Group said on Monday it will create a venture capitalist division to invest and fund new entrepreneurs in the region.

The initiative primarily aims to support entrepreneurs who operate in e-commerce, trading, IT, restaurants and cafés with innovative business ideas that meet the dynamic market conditions.

“The country’s business friendly policies have been instrumental in our ability to diversify into different verticals of businesses. And having a base in Dubai has been one of the key turning points in the group’s growth story. As a locally-grown company, we understand the value of giving back to the system that has enriched us through all these years,” said K.P. Basheer, chairman, Western International Group.