“Khalifa Fund” has supported 40,000 Emirati entrepreneurs since 2007

The Acting CEO of the Khalifa Fund for Enterprise Development, Moza Obaid Al Nasiri, revealed that the Fund has provided financial financing and non-financial support to more than 40,000 Emirati entrepreneurs since its establishment in 2007.

Al-Nasseri explained in her statements on the sidelines of the activities of the second day of Abu Dhabi Business Week that the Fund financed more than 1,170 projects owned by citizens in priority sectors, with loans amounting to 1.3 billion dirhams, while the value of its revenues amounted to more than eight billion dirhams, pointing to the contribution Through these projects, the Fund has provided more than 15 thousand job opportunities.

Al-Nasseri added that the Fund facilitated the access of small projects owned by citizens to purchases worth 2.5 billion dirhams, and also provided the necessary skills for entrepreneurship to more than 36 thousand citizen entrepreneurs, through many specialized programs, as well as helping more than 20 local companies to obtain contracts. Franchise” and organizing more than 1,000 awareness campaigns on the importance of entrepreneurship.

Al-Nasseri revealed that the Fund will work to expand its financing for citizen entrepreneurs during the coming period, to bridge the financing gap, through direct financing and partnerships with various financing platforms.

She said that the Fund launched its new strategy on the sidelines of Abu Dhabi Business Week, which includes the launch of the “Mozn” Center, which embodies an innovative concept that would expand the scope of the Fund’s services, in quantity and quality, as it employs artificial intelligence to ensure the construction of an advanced, integrated system that provides entrepreneurs with resources. And specialized programs and technologies that enhance the potential of their projects, and their chances of success and sustainability.

Al-Nasseri explained that the Fund’s new strategy aims to organize and simplify complex processes and procedures during the journey of establishing and growing small and medium enterprises, and to develop financial and non-financial support packages, to ensure that entrepreneurs have easy access to the resources necessary to achieve success, noting that the opening of the “Mozn” Center will be next year.

She stated in a press statement that “Muzn” aims to bring about a radical transformation in the entrepreneurs’ journey, by integrating three main components into a unified and effective platform, as the first component is represented by the “Muzn Venture” studios in Abu Dhabi, Al Ain, and Al Dhafra, and provides full support covering the various stages of establishment and growth. Business, starting from generating ideas, through business development, to achieving stability and growth, noting that emerging companies will benefit from “Mezn Venture” services, which include technology transfer, strengthening partnerships, Marketing research, development, training, and other services.

She added that the second component will be the light manufacturing unit, which represents a comprehensive manufacturing area to support entrepreneurs, with areas designated for raw materials and equipment needed to start production, a center for making prototypes to improve them, and a testing field to verify the validity of new ideas and their applicability, while the third component (Muzn Venture Capital aims to provide the necessary financing that companies need to grow and prosper in the competitive market, with the aim of bridging the financing gap in the startup ecosystem in their early foundational stages, and enhancing the role of the Khalifa Fund in their prosperity and sustainability. It is noteworthy that 98% of establishments in Abu Dhabi are small, and 46% of workers in the private sector work in small projects. Small projects contribute 42% of Abu Dhabi’s non-oil output.