The team, His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior and Chairman of the Board of Directors of the Social Solidarity Fund for Workers in the Ministry of Interior, launched the "Fazaa Center for Business Incubators and Accelerators", the pioneering project that provides logistical support, training, qualification, studies and consultations for Emirati entrepreneurs, and that On the sidelines of his inauguration, yesterday, "Fazaa Stores" in Al Ain, as part of a chain of stores that were opened in the country in succession.
The "Fazaa Center for Business Incubators and Accelerators" means working to stimulate the leadership of ambitious Emirati youth in the field of business, enabling them to establish their projects, and to benefit from the distinguished services that allow them to overcome the challenges of managing, financing and marketing entrepreneurial business projects, as the center comes within the vision of the UAE government to encourage it For young people to translate their innovative ideas into emerging projects that enable them to enter the field of entrepreneurship.
The Fund’s General Manager, Managing Director of Fazaa, Lt. Col. Ahmed Bouharoun Al Shamsi, stressed that the Fund’s initiatives are continuing, and that the center’s launch comes at an important and vital time within direct solutions to support the capabilities of Emirati entrepreneurs, especially the younger group of them, to continue and grow their businesses. And to overcome the negative repercussions that were reflected upon them due to the Corona pandemic, and to support them by providing everything necessary to enhance the continuity and growth of their businesses, which will be reflected in family and community stability.
Al Shamsi said: «The (Fazaa Incubator and Business Accelerators Center) came to support the Emirati youth by providing a platform for exchanging experiences and knowledge between the worlds leading business and emerging companies, as it provides an integrated services environment including offices, training halls, secretarial services, logistical support, exhibition spaces, the smart bank, and a government service center , With the provision of training courses with legal affairs and marketing activities, administrative and financial aspects, and the provision of financial and legal advisory services, feasibility studies, translation services and financing cover through soft loans ».
He explained that the Board of Directors has set a number of conditions and criteria for applying for the services of the new center, the most important of which is that the applicant is a citizen of the country, possesses ambition, and is devoted to dedicating his time and effort to the project, and that his activity is not prohibited by institutions supporting Emirati youth projects, and legally abiding.
Priority was also given to citizens of determination, from productive family projects, and from owners of heritage works and innovative ideas, so that the fund would constitute social support and an active contribution in the Emirati society, to support and develop innovative ideas within the vision of the Emirates government in adopting them and provide the support and facilities necessary to convert such works to Successful startups.
And on the Fazaa stores in Al Ain, Al Shamsi stated that the new store comes within the initiatives of the Social Solidarity Fund for workers in the Ministry of the Interior that continue to provide support and facilitation to the members and their families, and beneficiaries of the memberships of Fazaa from the categories of Emirati society, where the new store alone offers more than 6000 commodities and products With good quality and low prices, in addition to offering symbiotic services provided by Fazaa, such as car offers and a healthy food basket.