The Khalifa Fund for Enterprise Development (KFED), an independent entity of the Government of Abu Dhabi mandated to develop and support the Small and medium-sized enterprises (SMEs) sector, launched the Abu Dhabi SME Hub, a new knowledge platform dedicated to supporting SMEs and startups in the UAE.

Khalifa Fund starts SME hub in UAE capital

Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED) and Khalifa Fund, commented, "The Abu Dhabi SME Hub provides support for all the stages of development of the SMEs, empowering them to work within an attractive entrepreneurial environment, and enabling them to grow, thrive and innovate both in the context of best business practices and new technologies and digital solutions.

Al Shorafa added, "The Hub will provide information and data relevant to the SME sector, as well as relevant updates on initiatives and announcements from the sector, and best business practices through engaging a multi-format educational content, implementing market-tested strategies and technologies through partnerships with key market players and connecting with the wider business ecosystem, including government entities, regulators, investors, mentors and peers.

"This platform will provide an engaging, multi-format content produced in English and Arabic and intended to educate and entertain entrepreneurs in a variety of topics including innovation, fundraising, finance and cash management, product development, marketing, and organizational scaling."

Al Shorafa concluded, "Our overarching objective is to further support the UAEs SME ecosystem through innovative digital platforms that will empower entrepreneurs. Today more than 400,000 SMEs are representing over 60 percent of the UAE non-oil economy. They provide employment opportunities for 86 percent of the workforce in the private sector. It is expected that the SME’s share of the private sector in the non-oil economy will reach 70 percent."

Khalifa Fund has launched several initiatives and formed many strategic partnerships aimed to develop and digitally empower entrepreneurs, such as e-Empower, which aims to support entrepreneurs grow and work within the digital ecosystem and offers valuable and non-traditional insight to SMEs to expand their customer base.