Khalifa Fund for Enterprise Development announced the launch of the first edition of the “Khalifa Fund Entrepreneurship Competition” as part of its participation in the inaugural edition of Abu Dhabi Business Week. This highly anticipated event is held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and is organised by the Abu Dhabi Chamber of Commerce and Industry in collaboration with the Department of Economic Development – Abu Dhabi and the Abu Dhabi Investment Office.
Through the Khalifa Fund Entrepreneurship Competition, Khalifa Fund provides a premier platform to support and highlight innovative startups in Abu Dhabi by granting them the opportunity to compete in showcasing impactful solutions that address complex contemporary challenges across three of Abu Dhabi’s priority sectors. The objective is to attract talented entrepreneurs, and innovative SMEs, empower them to create measurable and impactful change, and drive sustainable economic growth in alignment with Abu Dhabi Business Week’s theme, “Deliver Impact, Make a Difference.”
By participating, contestants will gain access to resources, expertise, mentorship, and opportunities to expand their networks with experts and investors. This supports the growth and scalability of their ventures within competitive markets, contributing to establishing a strong presence in Abu Dhabi’s dynamic entrepreneurial ecosystem.
Participating startups will present innovative solutions within one of three categories. The first category is Biolife & Healthcare, which includes medical technology and devices, digital health and telemedicine, biotechnology and pharmaceuticals, as well as preventive health and wellness. The second category is Robotics & AI, focusing on automation, data analytics, machine learning, and AI-driven solutions that enhance industries and improve daily life. The third category is Agritech & Aquatech, covering sustainable agriculture and water management, smart farming and IoT in agriculture, food security and supply chains, as well as urban and vertical farming. Each category winner will receive a significant financial prize to support the development phases and market introduction of their solutions.
Commenting on Khalifa Fund’s launch of the Khalifa Fund Entrepreneurship Competition, 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.”
She 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, and striving for continuous progress. We look to inspire exceptional entrepreneurial minds to keep pace with emerging trends and the latest developments in the global economic landscape, encouraging critical thinking and creativity in developing innovative, sustainable solutions to complex daily challenges. This aligns with our national economic goals, positioning Abu Dhabi as a launchpad for future-ready innovations. We eagerly look forward to the bright ideas and concepts that will arise from this competition and the positive impact these startups will make.
Eligibility criteria for entrepreneurs and startups participating in the Khalifa Fund Entrepreneurship Competition include being either UAE nationals or expats in partnership with UAE nationals based in Abu Dhabi. Participants must present a prototype or minimum viable product (MVP) to demonstrate the feasibility of their solutions within one of the specified sectors. Additionally, they must show readiness to adapt and transform their business model to meet market needs. Participants are also required to submit a for-profit business plan that outlines a clear path for scaling and growth. Finalists will showcase their solutions to a panel of judges on December 5, 2024, the second day of Abu Dhabi Business Week.
Khalifa Fund invites eligible entrepreneurs and startups to submit their applications by November 20, 2024, through the Link
