On Tuesday, March 21, 2023, the Dubai Multi Commodities Center (DMCC) awarded a cash prize of 180,000 dirhams to three winners in partnership with the Social Impact Accelerator Foundation “C3”. The DMCC Accelerator Program for Social and Environmental Impact, supported by C3 Foundation, aimed to support the growth of small and medium enterprises seeking to achieve a positive impact in line with the United Nations Sustainable Development Goals. The program concluded its activities in conjunction with the UAE’s preparations to host the COP28 Conference of the Parties, which aims to lead the transformation that supports the global sustainability agenda.
The program lasted for six months and ended with a presentation day featuring fifteen companies presenting their ideas and projects aimed at addressing pressing sustainability challenges. After careful review, the three winners were announced: Groced, a Nigerian food technology platform; EatCloud, a Colombian startup using artificial intelligence and blockchain technologies to reduce food waste and support food banks around the world; and Chefaa, an Egyptian platform providing pharmaceutical services.
Ferial Ahmadi, Chief Operating Officer of DMCC, emphasized that the program signifies DMCC’s commitment to allocating a portion of their net profits towards environmental, social responsibility, and governance. All SMEs that took part in the program joined the DMCC community, which offers a 70% discount on license fees and flexible office space for two years. Moreover, the DMCC offers a 30% discount on licensing fees for companies that become a member of the United Nations Global Compact to combat climate change.
Khalid Kalbat, Head of the Small and Medium Enterprises Development Department at the UAE Ministry of Economy, thanked DMCC and the Social Impact Acceleration Program for their commitment to enhancing a positive social and environmental impact, encouraging entrepreneurship in the region, and enabling participating institutions to launch their business in the country.
Tuesday, March 21, 2023 – 8:43 PM
DUBAI, 21 March / WAM / The Dubai Multi Commodities Center, the free zone operating at the global level and the authority of the Dubai government specialized in the trade of goods and projects in cooperation with the Social Impact Accelerator Foundation “C3”, presented a cash prize of 180 thousand dirhams to the three winners within DMCC Accelerator Program for Social and Environmental Impact supported by C3 Foundation.
The program concluded its activities in conjunction with the UAE’s preparations to host the COP28 Conference of the Parties and lead the transformation that supports the global sustainability agenda. The program, which is the first of its kind in the UAE, supported the growth of companies seeking to achieve a positive impact in line with the United Nations Sustainable Development Goals.
The program is an essential part of the Center’s strategy for environmental, social responsibility and governance and embodies its commitment to allocate 0.5 percent of its net profits to achieve positive social and environmental impact.
The program lasted for six months and concluded with a presentation day, during which 15 small and medium enterprises presented their ideas and projects aimed at addressing a number of the world’s most pressing sustainability challenges in front of a panel of business experts from PricewaterhouseCoopers, Global Ventures, AstroLabs and Brunswick.
The audience at the conference center in Almas Tower included a number of experts, entrepreneurs and investors from the entrepreneurship and social impact system in the UAE.
After submitting the bids, the three winners were announced: Groced, a Nigerian food technology platform that collects small payments from low- and middle-income earners in exchange for a monthly food subscription and a number of financial services suitable for that segment, and EatCloud, a Colombian startup. Artificial intelligence and blockchain technologies are used to redistribute surplus food around the world, which reduces waste and supports food banks around the world. Chefaa is an Egyptian platform that provides pharmaceutical services and relies on GPS technologies to allow patients to request, schedule and re-dispense their medicines Besides meeting other pharmaceutical needs.
Ferial Ahmadi, Chief Operating Officer of DMCC, said that while DMCC continues to consolidate Dubai’s position as a vital center on the international trade map, we must use our platform to make a positive impact on societies. The strategy of the Dubai Multi Commodities Center, and for this reason, the first edition of the program was keen to select the best companies that can contribute to facing the urgent social and environmental problems in our contemporary world from among the 15 projects participating in the program … Congratulations to all the participants in the program and we are pleased to witness their successes and their positive impact in Next years”.
For his part, Khalid Kalbat, Head of the Small and Medium Enterprises Development Department at the UAE Ministry of Economy, said that this program confirms the UAE’s commitment to enhancing the positive social and environmental impact and encouraging entrepreneurship in the region… He thanked the Dubai Multi Commodities Center and the Social Impact Acceleration Program in appreciation of their efforts. Efforts to enable the participating institutions to launch their business in the country and benefit from our local system to serve as a platform for launching and successful expansion in the Middle East and Africa.
It is worth noting that all the SMEs that participated in the program joined the DMCC community, which is a fast-growing community of more than 22,000 companies, to receive a 70 percent discount on license fees and flexible office space over two years.
These companies will also benefit from additional discounts when renewing the license during the next three years.
In addition to a variety of initiatives aimed at promoting environmental sustainability in society, DMCC offers a 30 percent discount on licensing fees for any company that becomes a member of the United Nations Global Compact to combat climate change.
His conversion to Al-Hussein / Munira Al-Sumaiti
In conclusion, the DMCC Accelerator Program for Social and Environmental Impact supported by C3 Foundation has successfully come to a close, awarding three deserving startups with a cash prize of 180 thousand dirhams each. The program, which was the first of its kind in the UAE, aimed to support companies seeking to achieve a positive impact in line with the United Nations Sustainable Development Goals. The winners, Groced, EatCloud, and Chefaa, were able to showcase their innovative ideas and projects aimed at tackling some of the world’s most pressing sustainability challenges, and were selected from a pool of 15 small and medium enterprises. DMCC continues to be committed to its strategy for environmental, social responsibility, and governance, and is dedicated to allocating 0.5 percent of its net profits to achieve positive social and environmental impact. Congratulations to all the participants of the program and their positive impact in the coming years.