Saturday 3 June 2023

The full cohort with the prize winners

DMCC awards $49,011 to three purpose-driven SMEs

DUBAI, March 21, 2023

Dubai Multi Commodities Centre (DMCC) and Companies Creating Change (C3) have awarded AED180,000 ($49,011) in cash prizes to the three winners of the ‘DMCC Impact Scale-Up Programme Powered by C3’. 
The winners were Grocedy, EatCloud and Chefaa. Grocedy is a Nigerian FoodTech platform that aggregates micropayments from low and middle-income earners towards a monthly food subscription and other micro financial services.
EatCloud is a Colombian start-up that uses AI and blockchain technology to redistribute surplus food worldwide, reducing waste and supporting food banks globally.
Chefaa is an Egyptian GPS-enabled pharmacy benefits platform that allows patients to order, schedule and refill recurring prescriptions as well as all pharmacy needs.
Impact-driven businesses
The DMCC Impact Scale Up Programme comes to an end as the UAE prepares to host COP28 and lead the conversation that drives the global sustainability agenda. As the first of its kind in the UAE, the programme supports the growth of impact-driven businesses that align with the UN Sustainable Development Goals. 
The programme was launched as an integral part of DMCC’s wider ESG strategy, representing the focus of its commitment to dedicate 0.5% of its net profits towards social and environmental impact.
The six-month programme culminated in a pitch day where 15 impact-driven SMEs addressing some of the world’s most pressing sustainability challenges pitched their companies to a panel of business experts from PwC, Global Ventures, Astrolabs and Brunswick. In the audience at Almas Towers Conference Centre, were a range of experts, entrepreneurs and investors from the UAE’s impact and entrepreneurship ecosystem. 
Impact on society
Feryal Ahmadi, Chief Operating Officer, DMCC, said: “As DMCC continues to place Dubai at the heart of global trade, it is essential that we also use our platform to have a positive impact on society. This is a momentous year for the UAE where sustainability is centre-stage, and it is also integral to DMCC’s strategy. With 15 companies tackling some of the most pressing environmental and social issues we face today, the first edition of the DMCC Impact Scale-Up Programme marks a great success in working towards this goal. Congratulations to all the participants in the programme – we are excited to see your successes and your positive impact in the coming years.” 
Khalid Kalbat, Director of Small and Medium Enterprises Development Department at the Ministry of Economy of UAE, added: “This programme is a testament to the UAE's commitment to social and environmental impact and to promoting entrepreneurship in the region. I commend DMCC and C3 for their efforts in enabling participating businesses to establish a presence in the UAE and leverage our local ecosystem as a launchpad to successfully expand across the MEA region.
All SMEs participating in the programme became part of DMCC’s fast-growing community of over 22,000 member companies, receiving a bespoke 70% discount on licence fees and flexi-desk space for two years. Further discounts on licence renewals will also be offered for the following three years.
Alongside a range of other initiatives aimed at enhancing environmental sustainability across its community, DMCC currently offers up to a 30% discount on licences to any company that becomes a member of the UN Global Compact to fight climate change.-- TradeArabia News Service


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