Abu Dhabi: Emirati women are breaking down barriers and entering the business sector, traditionally considered a male domain. They have come forward to take up 35 per cent of SME (small and medium-sized enterprises) projects financed by the Khalifa Fund.
The 109 SME projects worth more than Dh113 million were allocated this year and Emirati women’s participation is noteworthy, a top official told Gulf News on the eve of the Abu Dhabi Entrepreneurship Forum.
SMEs are now key to the UAE’s economic growth and employment development, Hussain Jasem Al Nowais, chairman of the Khalifa Fund, said in an exclusive interview. Approximately 70 per cent of the UAE’s economic growth is due to the SME sector, he said.
“The 109 projects worth Dh113.66 million were meticulously selected, based on the quality and innovation shown in their operations in different and diverse fields,” he said.
Emirati women’s projects are also in diverse fields — ranging from traditional crafts, cosmetics and engineering among others.
Focus on innovation
He urged all participants to avoid repetition and seek innovation to make their business succeed.
“The Khalifa Fund aims to build a stable and sustainable economy by expanding enterprises based across the UAE. We want to spread the culture of entrepreneurship and make it successful within the country. Definitely, we are going to face several difficulties and obstacles, which vary from management to project barriers. However, we are going to bridge all obstacles and make projects a reality,” Al Nowais added.
“We are now looking to establish an association for entrepreneurs, where they can share their experiences and exchange benefits and ideas. The association will be able to help business owners strengthen their ideas, overcome obstacles and include the element of innovation in their schemes.”
Around 1,500 participants have registered to attend the entrepreneurship forum, which is taking place in the capital for the first time, to nurture and inspire the next generation of young business leaders, the Khalifa Fund announced.
Held under the patronage of General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, the three-day forum will be held at the Abu Dhabi National Exhibition Centre (Adnec) from October 7 to 9.
Success stories
The forum will start its activities by kicking off the fifth edition of the annual exhibition and ceremony on Monday, where 50 projects funded by the Fund will be displayed and success stories told.
Al Nowais said that via this exhibition, the Fund will be able to motivate other entrepreneurs.
“We will show how we have assisted the owners to overcome their obstacles, particularly during the start-up phase, which is the most challenging. The three-day forum aims to give the best possible access for the greatest amount of citizens, students and entrepreneurs to come and be inspired by the entrepreneurship stories so they can take advantage of the services offered by the Fund,” he added.
The Khalifa Fund will not only enhance the UAE’s economic growth, but will also showcase a number of social initiatives to serve the local community in the best way possible.
“The Sougha initiative, which aims to preserve the national heritage, can help divorced women, widows and retirees to have a sufficient source of income. The Khalifa Fund has brought professional experts from abroad, who can help skilled individuals, who have no educational background, to pursue their talents by converting traditional crafts into a lucrative source of income for themselves and their families,” Al Nowais said.
Another initiative, which encourages farmers to adopt smart hydroponic methods and can save up to 80 per cent of water consumption, has been launched by the Khalifa Fund.
The form will also see the announcement of the Khalifa Fund Award for Entrepreneurship, which will be presented in different categories — Bedaya, Zeyada, Khutwa programmes, the heritage sector, membership programme and the best Emirati project for non-beneficiaries of the Fund’s services.
