AED 672M in SME Deals and Counting
It's no secret that SMEs are the backbone of any thriving economy. They bring innovation, create jobs, and really drive growth. In Abu Dhabi, there's a fantastic initiative making sure these businesses get the spotlight they deserve: the Abu Dhabi SME Champions Program.
Launched in 2023 by the Abu Dhabi Department of Economic Development, this program was designed with a clear goal in mind: to get more procurement opportunities for SMEs from both big private companies and government entities. And it seems to be working, big time.
Building Bridges, Forging Deals
The latest figures from Khalifa Fund for Enterprise Development show some impressive progress. By 2024, the program helped ink a total of 652 deals between SMEs and leading public and private institutions. We're talking about a whopping AED 672 million in value, spread across various sectors like IT, consultancy, advertising, and event management. That's a significant boost for these businesses!
This success isn't just about the deals themselves. The program is also seeing more and more SMEs get involved. The number of registered companies jumped from 835 in 2023 to a remarkable 2,235 in 2024. Plus, the number of strategic partners on board has grown to 20, which means more opportunities are opening up for these smaller businesses.
More Than Just Business: A Path to Growth
From the get-go, the Abu Dhabi SME Champions Program has been all about helping SMEs connect with larger supply chain opportunities. It's essentially providing a solid platform for business development, opening doors for these companies to play a much bigger role in private sector projects. This, in turn, helps boost the GDP, diversifies economic resources, and really fosters innovation within Abu Dhabi, which aligns perfectly with the UAE's vision for a more sustainable and diverse economy.
The program also puts a lot of effort into educating SMEs about the benefits of working with both government and private sector entities. They help companies get classified, develop their skills, and build stronger collaborations. It’s interesting to note that over half of the registered companies are now micro-enterprises, with about 20 percent of them being eligible for deals with major institutions.
A Cornerstone of the Economy
H.E. Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development, puts it well: "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." She emphasised that SMEs are playing a "pivotal role in catalysing Abu Dhabi’s sustainable growth."
It's clear that the program is gaining traction, especially among Emirati entrepreneurs. It has paved the way for numerous collaborations, and to date, has even conducted 13 bi-monthly training sessions with nine partners, all focused on equipping SMEs with the skills they need to meet market demands. This kind of dedicated support is key to building a sustainable and innovation-based economy.
Who's Involved? A Look at the Partners
The success of a program like this hinges on strong partnerships. The Abu Dhabi SME Champions Program boasts an impressive list of key participants, including:
Abu Dhabi Department of Culture and Tourism
Department of Government Enablement – Abu Dhabi
Department of Finance
Abu Dhabi Investment Office
Family Development Foundation
Early Childhood Authority
AD Ports Group
Miral Group
E&
Aldar Properties
Etihad Airways
EMSTEEL Group
Emirates Development Bank
Agthia Group
ADGM
Mubadala
Masdar City
Industrial Capital Group (ICG)
United Copper Rods LLC (UCR)
And many more!
