The Khalifa Fund for Enterprise Development identified five tips for industrial financing.
Director of the Fund's Innovation and Projects Department, Shamma Al Farsi, told Emirates Today on the sidelines of the 18th General Conference of the United Nations Industrial Development Organization (UNIDO) that Khalifa Fund advises the entrepreneur who wants to enter the industry and set up projects to work. A thorough study of the market and competitors who provide the same or similar products, study the importance of the product that it intends to manufacture, and the volume of demand expected from the consumer or buyer, and then conduct extensive research on the most prominent and latest technologies used globally in the manufacture of this product.
Al Farsi stressed the continuous development of the project and its ideas, in line with the market requirements, as well as relying on innovation in everything provided by the entrepreneur, so that the project can compete locally, regionally and globally, and finally, prepare plans for expected crises, so that the entrepreneur is fully prepared To meet the challenges of the industrial sector.
Up to the end of last October, Khalifa Fund approved the financing of 333 pioneering projects within the industrial sector at the state level, while the total value of loans extended as part of its continuous support to small and medium enterprises in the industrial sector amounted to 661.3 million dirhams.
She pointed out that «Khalifa Fund» sponsored «Youth Platform and Entrepreneurs» in the interactive exhibition accompanying the 18th Conference of the United Nations Industrial Development Organization (UNIDO), and focused on supporting entrepreneurship and the development of small and medium enterprises.
Through its participation in the conference, the Fund also provided an opportunity for UAE-backed entrepreneurs to showcase their innovative projects and ideas to a large number of participants from more than 170 countries, highlighting the importance of innovation, entrepreneurship, SMEs promote the socio-economic growth of countries, especially in the industrial sector, which is one of the most vital sectors affecting the renaissance of countries.
She pointed out that the Fund, during this year's session of the conference, participated in two national projects in the field of modern technology, namely: the project «smart navigation systems» and «Digital Technology Research», indicating that this comes within the framework of the Fund's keenness to support national projects, and promote Entrepreneurship and supporting Emirati entrepreneurs in the development of their startups and small and medium enterprises.
“The Fund's participation in this conference stems from its endeavors to promote innovation and entrepreneurship that are in line with this year's conference slogan: (Industry 2030 - to create, communicate and build a better future), focusing on the importance of supporting various vital sectors, including In this sector, the industrial sector is a major driver of economic diversification in Abu Dhabi and the UAE in general. ”