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Khalifa Fund announces launch of fourth edition of Khalifa Fund Award for Entrepreneurship

posted on 31/07/2013: 2119 views

The Khalifa Fund for Enterprise Development has announced the launch of the fourth edition of its Khalifa Fund Award for Entrepreneurship, in line with its goal of instilling a strong spirit of entrepreneurship and fostering a culture of leadership. This in turn empowers entrepreneurs to upgrade their investments and projects, under the umbrella of the development plans and strategies adopted by the government of Abu Dhabi.

Abdullah Saeed Al Darmaki, Chief Executive Officer of the Khalifa Fund, commented, "The launch of the fourth edition of this prestigious award reflects our ambitious vision and embodies our commitment to facilitating knowledge transfer among entrepreneurs. This will cultivate a strong spirit of competitiveness, leading to stronger entrepreneurial skills, greater efficiency and more prudent investments. The SME sector plays a pivotal role in our economy, and helps to consolidate the emirate's position as a magnet for smart entrepreneurship in the region." He added, "To ensure complete transparency and credibility in the selection of winners, the jury will base their decisions on a comprehensive criteria evaluating the business owners' entrepreneurial skills, personal attributes and project excellence in terms of quality, profitability, growth, expansion and application of best practices in entrepreneurship." According to Mr. Al Darmaki, the jury consists of highly respected representatives from the Khalifa Fund for Enterprise Development, Abu Dhabi Department of Economic Development, a national bank and an economic organisation. The judging committee's responsibilities include sorting the applications, conducting the initial evaluation of candidates' submissions, visiting the projects on-site, interviewing the owners and conducting the final screening before announcing the results.

The Khalifa Fund's Entrepreneurs Award rewards the best projects categorised under six programmes: Bedaya programme, Zeyada programme, Khutwa programme, Heritage sector, Membership programme and the Best Emirati Project for non-beneficiaries of the Fund's services.

Applications can be submitted until 29th August, and the winning projects will be announced during a special ceremony on 7th October. Appreciation certificates, shields and souvenirs will be presented to selected participants. The best project in the Heritage sector and the Best Emirati Project will be awarded cash prizes.

During the ceremony, the Fund will announce which government agencies are most supportive of SMEs, based on purchase volumes. Mr. Al Darmaki also noted that the Fund will urge governmental and semi-governmental entities, as well as prominent captains of industry, to champion entrepreneurship by allocating a portion of their purchases to the SME sector in order to ensure continuity and support national prosperity. – Emirates News Agency, WAM


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