DMCC initates growth programme for social impact businesses in Dubai

DMCC initates growth programme for social impact businesses in Dubai

DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, Wednesday announced that it has partnered with C3 (Companies Creating Change), to launch the Impact Scale-Up Programme.

C3 is a UAE-based social enterprise empowering impact-driven entrepreneurs across the Middle East, Africa and Turkey, while the DMCC is the UAE’s first Free Zone to support companies with a social purpose in such a way.

The programme will support 20 businesses contributing to the United Nations Sustainable Development Goals (UNSDGs), enabling them to establish a presence in the UAE and leverage the local ecosystem as a launchpad to successfully expand across the MEA region.

The comprehensive training and networking programme will provide a proven blueprint to successfully enter the UAE market, and connect with local and regional investors and blue-chip companies. Applications are now open and will close on 30th April, 2022.

Feryal Ahmadi, Chief Operating Officer, DMCC, said,

"Creating a positive social and environmental impact is essential for businesses to provide true value to shareholders in today’s world. This is a philosophy that the DMCC lives by, and one that we encourage across our community of over 20,000 member companies. In doing so, we broaden and extend our ESG reach and support the UAE’s sustainability agenda."

Medea Nocentini, Founder of C3, added,

"Our programmes provide innovative and ambitious founders with the opportunity to learn the fundamentals of business growth and impact measurement while connecting them with relevant experts, potential clients, and strategic investors. In the local markets, there is a significant opportunity for companies that have an impact at the core of their strategy, so we are looking forward to kick-starting their expansion journeys and enabling them to create a positive impact across the region."

The DMCC will be offering a total of 20 "Impact" business licences to successful companies, providing them with substantial savings on business setup costs through a 70 percent discount on licence fees and flexi-desk space for two years.

The DMCC will also be providing further discounts on licence renewal from the third to the fifth year. Additionally, the successful start-ups will receive access to the DMCC’s facilities and its community of over 20,000 member companies to connect and network.

Once onboarded, the companies will undergo a tailored training programme covering business expansion pillars: go-to-market strategies, sales and marketing, investor readiness, ESG agenda and impact measurement. The programme will leverage the C3 network of thousands of local experts, hundreds of regional investors and blue-chip partners.

The DMCC currently dedicates 0.5 percent of its annual profits to social impact initiatives. In August 2017, DMCC became the first free zone in the Gulf Cooperation Council to commit to the United Nations Global Compact (UNGC), encouraging responsible business practice throughout the entire value chain. As part of its commitment to the UNGC, the DMCC publishes an annual sustainability report that highlights its progress on sustainability targets.

Businesses can apply to the programme on the C3 website.

News Source: Emirates News Agency

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