Within the initiatives of the second phase of the "Home of Entrepreneurship" in partnership with "Imtiaz"

"Al-Iqtisad" launches a program to enhance the benefit of small companies from "franchise"

  • The Ministry of Economy confirmed the continuation of providing support to the entrepreneurship environment.

    Emirates today

  • Abdullah Al Saleh: “The program aims to develop the internal operations systems of small companies in the country in the field of commercial franchising.”

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The Ministry of Economy launched the ScaleUp Franchise Program in partnership with Emtiyz, a company specialized in franchising, as part of the initiatives of the second phase of the Home of Entrepreneurship.

The Undersecretary of the Ministry, Abdullah Al Saleh, affirmed the continuation of providing support to the entrepreneurial environment and emerging projects in the country, and the development of the ministry's partnership with the government and private sectors, in a way that enhances the capabilities for entrepreneurs and owners of small and medium enterprises, and enhances their access to opportunities and expands their businesses.

franchise

Al Saleh said, “The ScaleUp Franchise program aims to develop the internal operations systems of small and medium-sized companies in the country in the field of franchising, support their capabilities and provide them with expertise and knowledge so that they are ready to benefit from the global systems of franchising, in a way that supports their expansion and investment plans in the local, regional and global markets.” ».

He added that the program also contributes to providing companies with all legal, operational and financial services related to global franchise systems, by obtaining legal advice and specialized training courses, in addition to providing marketing support for corporate brands for a period of up to 10 years, which helps them attract investors and launch new branches. locally and globally.

implementation

The Ministry of Economy stated that the program will be implemented in two phases, as the first phase lasts for eight weeks, and includes 25 small and medium companies, while the second phase lasts for six months, and aims to ensure the full readiness of the commercial franchise for the companies participating in the program.

The "ScaleUp Franchise" falls within one of the tracks of the "Platform to Support Rapidly Growing Companies" program, which comes within one of the three main axes of the "Home of Entrepreneurship".

The Ministry invited Emirati small and medium-sized companies wishing to participate in the program to apply through the link: (The Entrepreneurial Nation).

Terms

The Ministry of Economy, in cooperation with the “Imtiaz” company, set a set of conditions for selecting small and medium-sized companies to participate in the program, the most important of which is that the company has a commercial license in the country, including free zones, and that the company’s project achieved profits during the last fiscal year, and the signing of the investment contract Subscriber for 10 years and attend all training courses.

BPC Digital Payment Solutions joins the "Next Generation" initiative

The Ministry of Economy announced that BPC, a leading global company in the field of banking and payments services, has joined the “Next Generation” foreign investment initiative, NEXTGEN. The Swiss-based company confirmed its intention to launch its operations in the UAE as part of the initiative to encourage foreign direct investment launched by the Ministry.

Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade and supervisor of the “Next Generation” program for foreign direct investment, said, “The goal of the (Next Generation) initiative is to attract vital companies that focus on the future to the UAE, and to accelerate our transition to an economy based on Knowledge and innovation.

He added, "BPC's accession to the initiative represents a new step to support the country's vision of strengthening the business environment in the technology sector and raising it to international levels."

• The ScaleUp Franchise Program provides marketing support to participating companies for a period of 10 years.

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