Dubai Small and Medium Enterprises has extended AED75.6 million in financial facilities to the Global Village as part of the initiative to support Emirati businesses.
The agreement, signed for the 26th season of Global Village, which runs until April 10, 2022, aims to provide emerging national projects with an exclusive space in one of the best business platforms in Dubai.
Under the agreement, 25 kiosks have been allocated for Emiratis within Global Village to launch and grow their business.
Dubai SME, through its online registration portal, received more than 200 applications for Global Village. The eligible candidates were selected by a committee comprising representatives of Dubai SME and the Global Village.
The 25 kiosks were allocated for startups in the food and beverage (F&B) sector, chiefly restaurants and cafes, wholly owned and operated by UAE nationals. Priority was given to Dubai SME members, existing restaurants and cafes located in Dubai, new concepts, and entrepreneurs seeking to participate in Global Village for the first time.
“Dubai SME and the Global Village have remained partners for more than 15 seasons. During this period we have supported 689 varied projects, with food and beverage being a strong component in the past five years,” Abdul Baset Al Janahi, CEO of Dubai SME, said.
“The total value of support we have extended under this partnership has now reached AED 75.6 million. We thank the Global Village team for extending their platform to aspiring entrepreneurs,” he added.