Khalifa Fund Launches Inaugural Entrepreneurship Competition To Support Startups In Abu Dhabi

The Khalifa Fund for Enterprise Development has introduced the "Khalifa Fund Entrepreneurship Competition" during the first Abu Dhabi Business Week. This event is under the patronage of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. Organised by the Abu Dhabi Chamber of Commerce and Industry, it collaborates with the Department of Economic Development – Abu Dhabi and the Abu Dhabi Investment Office.

The competition aims to support innovative startups in Abu Dhabi by offering a platform to present solutions addressing modern challenges in three key sectors. The goal is to attract talented entrepreneurs and SMEs, empowering them to create impactful change and drive sustainable economic growth. This aligns with the theme of Abu Dhabi Business Week, "Deliver Impact, Make a Difference."

Participants will showcase solutions in one of three categories: Biolife & Healthcare, Robotics & AI, and Agritech & Aquatech. The Biolife & Healthcare category includes medical technology, digital health, biotechnology, and preventive wellness. Robotics & AI focuses on automation, data analytics, machine learning, and AI-driven solutions. Agritech & Aquatech covers sustainable agriculture, water management, smart farming, food security, and urban farming.

Each category winner will receive a substantial financial prize to aid in developing their solutions and introducing them to the market. This initiative supports startups' growth within competitive markets and helps establish a strong presence in Abu Dhabi’s entrepreneurial ecosystem.

To participate in the competition, entrepreneurs must be UAE nationals or expats partnered with UAE nationals based in Abu Dhabi. They need to present a prototype or minimum viable product (MVP) demonstrating their solution's feasibility within one of the specified sectors. Additionally, participants must show readiness to adapt their business model to meet market demands.

Mouza Obaid Al Nasri, Acting CEO of Khalifa Fund for Enterprise Development stated: "This competition reflects our commitment to fostering a culture of innovation and advancing priority sectors to contribute to a sustainable dynamic entrepreneurial ecosystem in Abu Dhabi aligning with the objectives of Abu Dhabi Business Week and Abu Dhabi’s Economic Vision 2030 to build a knowledge-based economy."

Empowering Entrepreneurs

Al Nasri added: "This initiative is a continuation of Khalifa Fund’s steadfast efforts dedicated to empowering the capabilities of promising entrepreneurs elevating their ambitions for success and growing their businesses striving for continuous progress." The competition encourages critical thinking and creativity in developing innovative solutions that address daily challenges.

Participants are required to submit a for-profit business plan outlining a clear path for scaling and growth. By joining this competition, contestants gain access to resources, expertise, mentorship opportunities, and networking with experts and investors.

This initiative aims to inspire exceptional entrepreneurial minds to keep pace with emerging trends globally while positioning Abu Dhabi as a launchpad for future-ready innovations. The Khalifa Fund eagerly anticipates the bright ideas that will emerge from this competition.

With inputs from WAM