As part of the Abu Dhabi SME Champions Program, Khalifa Fund for Enterprise Development has witnessed a significant growth in the number of deals forged between SMEs and leading public and private institutions, achieving more than 650 deals by 2024, with a total value of AED672 million ($183 million), across various key sectors such as IT, consultancy, advertising and event management.
“The Abu Dhabi SME Champions Program acts as a bridge connecting SMEs in Abu Dhabi with leading institutions and government entities. This helps enhance the productivity and innovation within this vital business category, which is a cornerstone of the national economy. SMEs further play a pivotal role in catalysing Abu Dhabi’s sustainable growth, aligning with the UAE’s broader vision for economic development,” said Mouza Al Nasri, acting CEO of Khalifa Fund for Enterprise Development.
Number of registered companies grows to 2,235 in 2024
The initiative was launched in 2023 by the Abu Dhabi Department of Economic Development to increase the share of procurement opportunities allocated to SMEs by major private companies, as well as government entities and institutions. As a result, the number of registered companies grew from 835 in 2023 to 2,235 in 2024, with the strategic partner count increasing to 20.
Since its inception, the Abu Dhabi SME Champions Program has focused on supporting and encouraging SMEs to participate in supply chain opportunities by providing them with a robust platform for business development.
The initiative has created new pathways for these companies to play an active role in private sector projects, thus enhancing their contribution to GDP growth, diversifying economic resources and fostering innovation within Abu Dhabi, in line with the UAE’s vision for a more sustainable and diverse economy.
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Micro-enterprises represent over half of registered companies
The Abu Dhabi SME Champions Program also features awareness initiatives to educate SMEs on the benefits of forging strategic alliances with both government and private sector entities. It also supports efforts to classify companies, develop their skills and strengthen collaboration and partnership pathways through relevant projects.
Micro-enterprises now represent over half of the registered companies, with approximately 20 percent of them being eligible for deals with leading institutions across both public and private sectors.
“Led by Khalifa Fund’s ongoing efforts to promote entrepreneurship, the program has garnered significant attention from Emirati entrepreneurs over the past two years, by paving the way for collaborations with leading institutions. The program has conducted 13 bi-monthly training sessions to date, in collaboration with at least nine partners, focusing on skill development for SMEs to meet market demands. This is a remarkable milestone in building a sustainable and innovation-based economy, in line with the UAE’s aspirations to become a leading knowledge-based and competitive economy,” added Al Nasri.
