New Abu Dhabi schemes offer Emiratis 80% startup funding

The Khalifa Fund for Enterprise Development (KFED) has announced the offering of new financial packages to support Emirati entrepreneurs with both emerging and established projects in Abu Dhabi’s priority sectors.

This continues its existing funding programmes.

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The entity has been continually accepting applications for medium and long-term loans to meet the needs of innovative business ventures, a WAM report said.

The two funding programmes run by the entity are the Startup Funding Programme and the Scale-up Funding Programme. Both programmes are channelised towards the enhancement of innovative concepts, improvement of competitiveness, and ensuring the sustainable success of business ventures with transparency for existing projects.

These funding programmes strengthen the growth and function of small and medium-sized enterprises (SMEs) in sectors such as healthcare, education, agricultural technology, information technology, communications, tourism, industry, and innovative projects.

“We are committed to empowering entrepreneurship within the community and contributing to the establishment of a more diverse and sustainable economic model. Through this move, we seek to design financial solutions that broaden our support for projects, especially SMEs, which serve as a key pillar for establishing a sustainable economic model and a primary driver for attracting investments and boosting the competitiveness of the national economy,” said Mouza Obaid Al Nasri, Acting CEO of KFED.

Functions of the two funding programmes

Startup Funding Programme

This programme offers a loan covering up to 80 per cent of the total project establishment costs. It also provides young entrepreneurs with easy terms, a repayment period of up to 84 months, and a grace period of up to 24 months.

Scale-up Funding Programme

This programme is meant for existing projects and offers loans to support successful and stable SMEs. It is designed for Emirati entrepreneurs who intend to develop and expand their businesses. The financial support provided by the loan covers up to 80 per cent of the total expansion costs.

How these funding programmes empower entrepreneurs

Both funding programmes not only support startups and empower entrepreneurs but also catalyse the sustainability of the national economy, diversify its sources, and create more job opportunities.

They offer many facilities and support tools, including long-term, easy-to-manage loans, enabling borrowers to manage their financial commitments smoothly.

The difference made so far

In 2024, the fund delivered entrepreneurship training courses. The courses were designed to offer support and expertise to business owners, helping them transform innovative business ideas into successful projects.