The Khalifa Fund for Enterprise Development has launched the fourth edition of the Khalifa Fund Award for Entrepreneurship, which is a catalyst in creating a positive competitive environment to nurture entrepreneurs of small and medium firms.

The award aims establish a culture of leadership and empower entrepreneurs to upgrade their investments and projects, under the umbrella of the development plans and strategies adopted by the government of Abu Dhabi.

It also aims to serve as a stimulus for the concepts of creativity and innovation, thereby strengthening candidates’ capabilities. By encouraging and assisting entrepreneurs to transform their innovations into financially viable projects, the business community will be better positioned to support the development process and evolution of the Emirate of Abu Dhabi.

Abdullah Saeed Al Darmaki, CEO, said: "Our launch of the fourth edition of this award reflects our ambitious vision and embodies our commitment to facilitating knowledge transfer among entrepreneurs. The SME sector plays a pivotal role in our economy, and helps to consolidate the emirate's position as a magnet for smart entrepreneurship in the region.”

"To ensure complete transparency and credibility in the selection of winners, the jury will base their decisions on a comprehensive criteria evaluating the business owners’ entrepreneurial skills, personal attributes and project excellence in terms of quality, profitability, growth, expansion and application of best practices in entrepreneurship,” Al Darmaki added.

The jury will consist of representatives from Khalifa Fund for Enterprise Development, Abu Dhabi Department of Economic Development, a national bank and an economic organisation.

The judging committee’s responsibilities include sorting the applications, conducting the initial evaluation of candidates’ submissions, visiting the projects on-site, interviewing the owners and conducting the final screening before announcing the results.

The Khalifa Fund’s Entrepreneurs Award rewards the best projects categorized under six programs: Bedaya program, Zeyada program, Khutwa program, Heritage sector, Membership program and the Best Emirati Project for non-beneficiaries of the Fund's services.

Applicants can submit their applications until August 29 and the winning projects will be announced during a special ceremony on October 7. - TradeArabia New Service