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The Dubai Multi Commodities Center (DMCC) and Companies Creating Change (C3) awarded cash prizes of AED 180,000 (US$ 49,011) to three winners of the DMCC Impact Scaling Program powered by C3.
The winners are Grocedy, EatCloud and Chefaa. Grocedy is a foodtech platform in Nigeria that aggregates micropayments for low- and moderate-income individuals for monthly food subscriptions and other microfinance services.
EatCloud is a Colombian startup that uses artificial intelligence and blockchain technology to redistribute leftover food around the world, reducing waste and supporting global food banks.
Chefaa is an Egyptian GPS-enabled pharmacy benefits platform that allows patients to order, schedule and refill recurring prescriptions and all pharmacy needs.
impact-driven business
The DMCC Impact Scaling Program draws to a close as the UAE prepares to host COP28 and lead the conversation to advance the global sustainable development agenda. The first of its kind in the UAE, the program supports the development of impact-driven businesses aligned with the United Nations Sustainable Development Goals.
The program was launched as an integral part of DMCC’s wider ESG strategy and represents the focus of its commitment to dedicate 0.5% of net profits to social and environmental impact.
The six-month program culminates in Pitch Day, where 15 impact-driven SMEs working to solve some of the world’s most pressing sustainability challenges will meet business experts from PwC, Global Ventures, Astrolabs and Brunswick Groups pitch their companies. Among the audience at the Almas Towers Convention Center was a range of experts, entrepreneurs and investors from across the UAE’s influential and entrepreneurial ecosystem.
impact on society
Feryal Ahmadi, Chief Operating Officer of DMCC, said: “As DMCC continues to place Dubai at the center of global trade, it is imperative that we use our platform to have a positive impact on society. A big year, and an integral part of DMCC’s strategy. With 15 companies addressing some of the most pressing environmental and social issues we face today, the first version of the DMCC Impact Scaling Plan marks progress towards this goal It was a huge success. Congratulations to all involved in the program – we are excited to see you succeed and make a positive impact in the years to come.”
Khalid Kalbat, Director General, SME Development Division, UAE Ministry of Economy, added: “This program is a testament to the UAE’s commitment to social and environmental impact and to promoting entrepreneurship in the region. I commend the DMCC and C3 for their efforts to enable participating businesses to establish operations in the UAE, and Successfully expanded across the MEA region using our local ecosystem as a launchpad.
All SMEs participating in the program become part of DMCC’s fast-growing community of more than 22,000 member companies and receive a customized 70% discount on license fees and flexible office space over two years. Further discounts on license renewals will also be offered over the next three years.
The DMCC is currently offering license discounts of up to 30% to any company that becomes a member of the United Nations Global Compact on Climate Change, in addition to a host of other initiatives aimed at increasing the environmental sustainability of its communities. — trade arab news agency
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