The Khalifa Fund for Enterprise Development and Masdar City, an Abu Dhabi based sustainability and innovation hub, dedicated to making all cities a solution to climate change, announced the signing of a Memorandum of Understanding (MoU).
This strategic partnership aims to unlock a range of benefits for Emirati entrepreneurs as part of the Fund’s efforts to support the Emirati entrepreneurial ecosystem. The partnership will foster a culture of innovation, technological advancement, and sustainable businesses.
The collaboration will concentrate on enhancing the growth opportunities available to Emirati entrepreneurs and facilitating the exchange of ideas and experiences in the field of SMEs.
Emirati-owned companies established in Masdar City will gain access to Khalifa Fund's tailored programs. These programs are aimed at refining skills and expanding the operational capabilities needed to thrive within their respective industries.
This includes the provision of specialized tools and organisation of workshops, designed to enhance their competitiveness. The seamless registration of these companies into Khalifa Fund's membership through the TAMM platform ensures that they receive continuous support and are well-positioned to thrive within Masdar City’s innovative and sustainable community.
Additionally, selected companies will benefit from integration into Khalifa Fund’s extensive initiatives, leveraging resources to facilitate growth and development.
Masdar City will exempt Khalifa Fund’s SMEs from the registration fee as well as waive their first-year license fee when registering their companies in the Masdar City Free Zone.
They can also benefit from Masdar’s state-of-the-art reception services and meeting rooms along with quick access to various government services, well-designed office spaces, the ability to issue work and residence visas, mailboxes, medical insurance, and no-objection certificates through the Free Zone’s one-stop-shop portal.
H.E. Alia Abdullah Al Mazroui, CEO of Khalifa Fund, said: “This partnership with Masdar City represents a significant step forward in our ongoing commitment to fostering a vibrant SME ecosystem within the UAE.
"This collaboration is perfectly aligned with Khalifa Fund's mission and the broader Abu Dhabi Economic Vision 2030 to build a sustainable and diversified economy that is well-integrated into the global economy.”
She added: "At Khalifa Fund, we are steadfast in our efforts to support the Emirati entrepreneurial ecosystem, particularly progressive businesses that are embracing sustainable practices, technology, and innovation."
Ahmed Baghoum, Chief Executive Officer, said: "We are delighted to partner with the Khalifa Fund. This is a crucial step in strengthening the local SME ecosystem within Abu Dhabi and aligns with Masdar City's goal to bolster the capital’s sustainable economic structure.
"This partnership will provide necessary support through workshops, tools, and other resources, encouraging local SMEs to thrive in the world of entrepreneurship.
"Our Free Zone team in Masdar City has already designed packages that ensure SMEs receive the right support and meet their expectations. The success of local SMEs is vital to Masdar City’s mission, reinforcing our commitment to Abu Dhabi's economic vision."
Masdar City is a pioneering example of sustainable urban development, integrating cutting-edge renewable energy and clean technologies.
The city includes one of the largest certified green research and development centers in Abu Dhabi, Masdar City Free Zone.
This rapidly growing hub for innovative businesses is focused on sustainability, and has a residential area that features restaurants, shops, sports facilities, and green public spaces. Masdar City also hosts more than 1100 companies focused on developing innovative technologies within the sectors of renewable energy, space, energy storage solutions, artificial intelligence, agriculture, health, and mobility.