Khalifa Fund's Abu Dhabi SME Champions Programme Facilitates Over 650 Deals Worth AED 672 Million In 2024

The Abu Dhabi SME Champions Programme, initiated by the Abu Dhabi Department of Economic Development in 2023, has significantly boosted collaborations between SMEs and major institutions. By 2024, it facilitated 652 deals valued at AED 672 million across sectors like IT and consultancy. This initiative aims to increase procurement opportunities for SMEs with large private companies and government bodies.

Since its launch, the programme has focused on empowering SMEs to engage in supply chain activities, offering them a strong platform for business growth. This effort has opened new avenues for these businesses to contribute actively to private sector projects. Consequently, this enhances their role in GDP growth and economic diversification, aligning with the UAE's vision for a sustainable economy.

The number of registered companies surged from 835 in 2023 to 2,235 in 2024, with strategic partners rising to 20. The programme includes awareness initiatives that educate SMEs on forming strategic alliances with both government and private entities. It also aids in classifying companies, enhancing skills, and strengthening collaboration through relevant projects.

Micro-enterprises now make up over half of the registered companies. About 20% of these are eligible for deals with leading institutions across public and private sectors. This reflects the programme's success in fostering partnerships that benefit SMEs and larger organisations alike.

The programme's key participants include prominent entities such as the Abu Dhabi Department of Culture and Tourism, AD Ports Group, Etihad Airways, and Mubadala. These organisations play a crucial role in supporting SMEs by providing opportunities for collaboration and innovation within various industries.

Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development, stated: "The Abu Dhabi SME Champions Program acts as a bridge connecting SMEs in Abu Dhabi with leading institutions and government entities. This helps enhance the productivity and innovation within this vital business category, which is a cornerstone of the national economy."

Training Initiatives for Market Readiness

Khalifa Fund's ongoing efforts have attracted significant interest from Emirati entrepreneurs over two years by facilitating collaborations with leading institutions. The programme conducted 13 bi-monthly training sessions with at least nine partners to develop skills needed to meet market demands. This milestone supports building an innovation-based economy aligned with the UAE’s aspirations.

The initiative not only supports economic growth but also aligns with the UAE’s broader vision for development. By promoting entrepreneurship through training and partnerships, it contributes to creating a knowledge-based competitive economy.

With inputs from WAM