UAE fund to set up 'kitchen incubator'
Al Ain, October 10, 2012
UAE-based Khalifa Fund for Enterprise Development has signed an agreement with UAE University in Al Ain to set up "Kitchen Incubator," a specialized project aimed at helping Emirati investors start new ventures in the food sector.
The project coming up in Al Ain is the first-of-its-kind in the region and represents an additional initiative to the services of Khalifa Fund.
It is aimed at helping Emirati investors in the food industry sector to start up their projects besides technically and administratively prepare them before entering the markets, said Khalifa Fund CEO Abdullah Saeed Al Darmaki after signing the deal with UAE University VC Dr Abdullah Al-Khanbashi.
As per the agreement, the two parties will establish and manage the food industry in the framework of “Food Innovation Program” launched by them to encourage UAE nationals to enter the food industry sector, he added.
In his comments, Dr Al-Khanbashi said, "The program has been designed to help a wide range of nationals to enter new economic fields in order to obtain more experience in the markets and economic activity which in turn attain commercial vital gains."
"It is a unique support to the national economy with a very simple and easy start-ups for young generation and the most important the opportunity to training rendered by these projects for young nationals wishing to do business."
Commending the Khalifa Fund's role, Dr Al-Khanbashi said it was the first engine in recruiting nationals to enter the stimulated and successful investment areas referring to the successive achievements of the fund at the community level with partnerships that contributed to stir the activate the market.
"The kitchen incubator in the food industry is considered a leading experiment as it allows the opportunity to entrepreneurs to test their projects ideas and execute them with the lowest cost possible in addition to know the best international practices in the food industry and use them as permanent procedures in the project, he added.
The program includes training courses for its candidates to develop their administrative and marketing skills in addition to specialized courses on how to prepare different types of food confectionery and means to preserve and market them.
Also candidates are briefed to the health and environmental procedures to be followed and other applied international procedures and practices in the field of food preparation and selling it.
Al Darmaki said the program will be conducted in two phases. The first phase will last 3 months and include training, qualification and building capacities and skills in all various fields while the second phase will continue for a full year.
In the second phase, candidates will learn the mechanism to approve the production lines and innovating the special recipes of the products, marketing and building business networking which enable the entrepreneur to join the market.
Al Darmaki pointed out that this project includes currently 11 programs managed by nationals who will have all facilities including the license which permits them to sell their products directly.
"Khalifa Fund will provide funding support for successful candidates who pass all technical and administrative requirements in order to start-up their projects under the sponsorship of the fund,"said the top official
The program will focus on developing projects related to producing and preparing traditional food, he added.-TradeArabia News Service