Khalifa Fund for Enterprise Development Explained! Must Read for Aspiring Entrepreneurs and SMEs!
The Khalifa Fund for Enterprise Development (KFED) oversees a number of sharply focused finance and training projects with the goals of promoting entrepreneurship, fostering an innovation-friendly culture, and assisting SMEs.
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By providing funding and service choices, as well as networking possibilities with other stakeholders, it seeks to increase the effectiveness and capability of small businesses and entrepreneurs.
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The Khalifa Fund, which also has a branch in Al Ain and offices in the Western region, was founded in Abu Dhabi in 2007. Providing services to companies in Ajman, Fujairah, and Ras Al Khaimah in 2011, KFED expanded its geographic reach to the Northern Emirates.
Thus in today’s blog, Dhanguard will discuss the Khalifa Fund, which is solely dedicated to the betterment of Enterprises in the UAE. So without any further ado, let’s learn!
What are the numerous Programmes & Benefits associated with the Fund?
Abu Dhabi SME Hub
A useful and rich knowledge based interactive digital educational platform was launched by the Khalifa Fund for Enterprise Development with the goal of assisting SMEs and start ups in the UAE by giving them access to necessary information on product development, project management, marketing, and financial matters.
Beneficiaries
- Entrepreneurs from all countries
Khalifa Fund Membership Programme
Aiming to provide business support to members who do not require finance for their initiatives or unfunded SMEs, the Khalifa Fund Membership Program was created. For members of Khalifa Fund, different support services are provided at various stages, including setup, operational, and growth stages. These services come with benefits like waiving of government fees, facilitating connections with stakeholders, business counseling, chances to access new markets, and participation in regional and international trade shows and exhibitions, among others.
Beneficiaries
- Emiratis between the ages of 21 and 60 are eligible to apply.
E-Empower
In collaboration with Amazon, KFED created E Empower, an online education initiative that offers practical E learning materials to support SMEs' success in the digital economy. The platform provides tools and information on how SMEs can build their businesses and increase their consumer base through Amazon.ae by collaborating with platforms including Amazon.ae, E Empower, Hello Business Hub, and noon.com.
Beneficiaries
- Entrepreneurs from all countries
Support Export Capabilities
In order to improve the export capacities of SMEs, Khalifa Fund for Enterprise Development has teamed with Etihad Credit Insurance (ECI), the UAE Federal export credit firm, to give them access to export credit, financing, and investment insurance solutions.
Beneficiaries
- SMEs which are registered under the Khalifa Fund
Al Mentor
The AI Mentor Khalifa Fund offers an interactive advisory platform that gives business owners access to a variety of digital and training tools during the planning stage of their operations. It also offers assistance when making a funding application to help hasten the planning processes and launch entrepreneurial projects.
Beneficiaries
- Only open to Khalifa Fund members for the time being, but will be open to public in future
Read More: Read about the 7 Most Lucrative Freezones in the UAE
What is the Goal of Khalifa Fund for Enterprise Development?
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The program's goal is to provide up to 10 successful SMEs and startups with top-notch, specialized help to continue the growth of their firm by giving them the most efficient tools and resources. Participants will engage with industry experts, possible investors, buyers, and partners through customized learning, networking events, group training, and mentor sessions, which will help them redefine their business models and advance their commendable ideas.
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Through "Level Up," Khalifa Fund is enabling more small firms to contribute more significantly to the post-pandemic economic recovery by bridging the gap between early-stage entrepreneurs and more established businesses, allowing for the exchange of knowledge and luring further investment. The Khalifa Fund is actively devoted to assisting in meeting the needs of the country and fostering a culture of positive change for SMEs and startups, with sustainable growth for future generations, as a key enabler of the programme and in accordance with the UAE's 2071 vision.
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Khalifa Fund is assisting business owners, SMEs, and startups in taking more measures toward tackling climate change by providing them with useful guidance and more sustainable growth methods as the globe transitions to a greener future. The objective is to motivate companies to reduce emissions and strengthen their capacity for environmental risk adaptation, thereby boosting their resilience and competitiveness on a global scale.
What has been the impact of the Funds till now?
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An updated report shows that the Khalifa Fund for Enterprise Development, which started its funding initiatives in 2007, has contributed to the creation of 15,000 jobs in the UAE.
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The Fund has aided in the growth of SMEs and molded the future of the UAE's entrepreneurial environment, according to the Impact Report, which assesses the efficiency of the funding initiatives between 2007 and 2019.
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The 54 page research employed six main metrics to assess the extent of the effects of the various funding sources, including business formation, employment creation, financial and economic analysis, internationalization, and perceived operational impact.
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According to the indicators, funding from the Khalifa Fund led to the creation of 15,000 new jobs in the UAE market, 1,800 of which were for Emiratis, 1,168 activated loans totaling AED1.32 billion, 152 projects that export to other markets, the establishment of 6% of Emirati SMEs, and a total return on investment of 15.5 percent.
Conclusion
Thus we can conclude with the fact that the Khalifa Fund for Enterprise Development is solely focused to enhance the SMEs and budding Entrepreneurs of the Nation. It can provide one with great financial assistance to remove any operational hindrances. Thus, we hope this blog provided you with insightful information. For more information on other related aspects, feel free to check out our website as well.
