The Ministry of Economy announced one of the first businesses to join the landmark NextGenFDI initiative - Krush Brands, a full stack food technology, multi-kitchen food service company.
The announcement comes three weeks after the launch of the global initiative in collaboration with seven strategic partners and representatives of key national entities in the UAE.
Under the initiative, Krush Brands will relocate its global headquarters to the UAE to triple its growth by creating 700 jobs within two years and moving its technology arm from Europe.
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said,
"The UAE's vision aspires to promote FDI flows to the new economic sectors. In line with this vision, NextGenFDI is set to cement the country's efforts in building a successful economic model based on knowledge and innovation. The Ministry of Economy continues to work alongside its strategic partners to attract new companies to our market and promote business activity and innovation in accordance with our wise leadership's directives and the Principles of the 50, thus consolidating the UAE's position as a leading global FDI destination."
The NextGenFDI initiative complements other initiatives, such as the National Programme for Coders, which offers golden visas to 100,000 coders.
The Ministry of Economy and other committed stakeholders will support Krush Brands' business journey by offering practical support that includes introducing them to potential strategic partners across aviation, hospitality, real estate and retail.
Ian Ohan, Founder and CEO of Krush Brands, said,
"This is a win-win for us and gives us the opportunity to build our technology company in a world-class digital economy, right here in the UAE. This is a milestone in Krush Brands' evolution as we focus on accelerating our proprietary technology, our brands, operations and last mile logistics capabilities to scale with strategic partners in the UAE and across the region. We are proud to be a founding member of the NextGenFDI programme and contribute to the growth of the UAE digital economy."
Krush Brands has championed economically sustainable delivery and is the only digitally enabled full-stack, fully integrated, omni channel food and beverage company in the region. It recently launched Locale, its highly curated, online marketplace for its local food brands.
Krush Brands were instrumental during Covid in promoting home-grown foodpreneurs in the UAE. Through the Locale app, diners can order directly from leading local brands, including Freedom Pizza, Coco Yogo, Salad Jar, Wildflower, Viking Bageri, Alannah's Pastry Boutique, Moby Vegan Sushi, Inkognito, Rumba, Mercato Centrale and more, with the option to combine multiple products from different brands in one order.
The company is one of the first to sign up to NextGenFDI, which aims to attract leading digitally-enabled companies and exceptional tech talent, including software developers, data scientists, computer programmers and digital entrepreneurs, to the UAE. The nationwide initiative aims to supercharge the UAE's digital ecosystem and fast-track plans to make it a diversified knowledge-driven economy.
More new tech companies, entrepreneurs, and strategic partners for NextGenFDI will be announced in the near future.
News Source: Emirates News Agency
