ABU DHABI, Organised by the Khalifa Fund for Enterprise Development, KFED, the 'Pitch@Palace UAE Competition' has been playing a key role in promoting entrepreneurship in the country since 2017 by highlighting the socio-economic role of small and medium enterprises, SMEs, and innovative startups.

The competition provides budding entrepreneurs with an ideal opportunity to present their ideas and projects before a global audience for a chance to attract potential investors and receive assistance that could help realise their dreams and ensure the success and continuity of their respective businesses.

The local Emirati version of the competition was first launched in November 2016 by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in the presence of HRH Prince Andrew, The Duke of York, and founder of Pitch@Palace Global. Based in Abu Dhabi, the competition falls in line with the emirate's vision of launching initiatives that inspire citizens about leadership and self-employment, and its plan to create a confident, secure society and to build a sustainable, open and globally competitive economy.

The Pitch@Palace UAE Competition complements KFED's mission to support sustainable innovation and creativity within SMEs and help drive its local and international growth by extending assistance to the young generation while also promoting a culture of entrepreneurship in the country to help sustain its socio-economic progress.

Mouza Al Nasri, Acting Chief Executive Officer, KFED, said that apart from providing the local entrepreneurs with an opportunity to present their projects on the global stage, the Fund also helps enrich an entrepreneurial culture, promote innovation and creativity, and support SMEs to grow in the UAE.

The second edition of the Pitch@Palace UAE featured a number of projects covering AI and other technological innovations, reflecting the young people's interest to use next-generation technologies in accordance with the country's digital transformation efforts. Several leading projects have been able to reach the final stage and have achieved local and global prominence.

Source: Emirates News Agency