DUBAI, UAE – Dubai Multi Commodities Center (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies have been selected to participate in the DMCC Impact Scale-Up Program – Powered by C3′ (Companies Creating Change).
The program is the first of its kind in the UAE, supporting the growth of impact-driven businesses that align with the United Nations Sustainable Development Goals (UNSDGs).
Inaugurated at a virtual opening ceremony, the program is operated in partnership with C3, a UAE-based social enterprise helping impact-driven entrepreneurs in the region unlock their growth potential and maximize their positive impact on the community.
The program forms an integral part of the DMCC’s wider Environmental Social Governance (ESG) strategy, representing the focus of its commitment to dedicate 0.5 percent of its net profits toward social impact.
Alongside a range of other initiatives to enhance environmental sustainability, the DMCC currently offers up to a 30 percent discount on licenses to any company that becomes a member of the UN Global Compact to fight climate change.
Feryal Ahmadi, Chief Operating Officer, DMCC, said, “As one of the world’s leading business districts with over 21,000 member companies, the DMCC is uniquely positioned to champion environmental, social and governance programs in the region.”
She said, “We have a significant opportunity to enact positive environmental and social change by activating and mobilizing our community.”
Ahmadi said, “It is our fundamental belief that social and environmental impact go hand in hand with economic development and the long-term growth of global trade.”
She added, “Our partnership with C3 on the DMCC Impact Scale-Up Programme ties directly into our mandate to attract and promote trade through Dubai.”
The 15 impact-driven companies have joined the DMCC’s growing community of over 21,000 businesses with substantial savings on business set-up costs through a bespoke 70 percent discount on license fees and flexi-desk space for two years.
Originating from global markets including Colombia, the United Kingdom, South Africa, India, Pakistan and Egypt, the successful companies cover various sectors such as health tech, agriculture and food technology, education technology, as well as employment and job readiness.
Medea Nocentini, Founder of C3, said, “We look forward to working with the inspirational founders of these businesses who are on a mission to solve global challenges, supporting them in scaling their impact across the UAE and the wider region.”
Nocentini said, “The selected companies are a welcome addition to our network of over 200 accelerated start-ups, who have benefited from our programs and over 2,500 founders committed to putting their business to good use.”
The business founders will kick off their training with C3 in September, receiving expert support on various pillars including impact, strategy for scaling, business, governance, talent and doing business in the UAE.
The program will support these businesses contributing to the UNSDGs, enabling them to establish a presence in the UAE and leverage the local ecosystem as a launch pad to successfully expand across the Middle East and North Africa region.
The comprehensive training and networking program will provide a proven blueprint to successfully enter the UAE market and connect with domestic and regional investors and blue-chip companies.