Dubai: Dubai’s Food Tech Valley has signed a deal with the B2B marketplace Tradeling by which businesses based at the food/agri focussed hub can tap easier payment terms, warehousing, etc. The longer term goal from this venture is to bring more of the food trade onto digital ways - an area where the industry has been lagging.
To this end, a B2B platform focused on the food industry will also be set up by Food Tech Valley, to connect or match buyers from multiple industries, including hospitality, with local and international F&B suppliers. The portal will be managed by Tradeling, which is part of the Dubai Airport Free Zone's (DAFZA) portfolio and launched specifically to provide B2B related opportunities.
As for Food Tech Valley, it is being built by wasl Asset Management Group.
“This collaboration will enable a digitalised trade experience that will support food producers by helping expand their businesses in the UAE,” said a statement from Food Tech Valley. “Credit finance solutions will also be offered to select eligible companies, comprising flexible payment options for SMEs and start-ups.”
A Dubai Government project, Food Tech Valley was set up to attract new-gen startups in agritech and related areas, as well as aid in UAE’s food security priorities.
More than 200 million consumers have shifted to online shopping since 2020, and through this partnership, we believe that we can collectively revolutionise the ecosystems of both e-commerce and agritech
UAE's food trade exceeds Dh100 billion each year, and the agritech market is expected to grow from $13.5 billion to $22 billion by 2026. The country is focussing heavily on expanding the 'green' area under its coverage, and also on building vertical farms. (In Dubai, the world's biggest vertical farm has just opened, located in Dubai South.)
"We will enable local food producers to trade through a newly added section on Food Tech Valley’s website - FTV B2B Market - to yielding substantial growth and results," said a spokesperson for the food hub. "Our combined efforts will eventually help empower the UAE’s food security plans, and we look forward to working closely with Tradeling to pioneer sustainable food production towards reimagining how the world produces and consumes food.”
The new food-focussed B2B platform will grant business users access to food and agri technology via easy payment solutions, logistics, warehousing solutions, and marketing and customer acquisition benefits.