ABU DHABI - Khalifa Fund for Enterprise Development and Al Dhafra Co-operative (ADCS) have signed a Memorandum of Understanding to encourage entrepreneurship and stimulate the development of SMEs in the UAE's F&B sector.

The partnership between the two respective parties will see Khalifa Fund members receive a number of benefits, such as a full waiver of the ADCS entry fee for three years, a 50% discount on the rental of main shelves at ADCS' sites for a year, and they will be included on the ADCS supplier list.

Khalifa Fund signed the MoU on the third day of Gulfood 2023, where they are supporting the participation of nine businesses. The businesses will be able to showcase their products to reputable vendors worldwide and explore business opportunities in one of the most thriving industries.

Alia Al Mazrouei, CEO of Khalifa Fund for Enterprise Development, stated that this collaboration will create new opportunities for local businesses and entrepreneurs in the sector. "With access to training and support, our entrepreneurs will have the capacity to launch and grow their businesses, contributing to the overall economic growth of the UAE."

She added, "Khalifa Fund takes pride in supporting nine UAE businesses during its 7th consecutive year at Gulfood. This year, Gulfood presents a unique chance for them to explore business opportunities in one of the most thriving industries. We look forward to supporting these businesses throughout the exhibition and beyond as we guide them on their journey to success."

Hamad Abdulla Barak Almazrouei, Deputy Chairman of the board of Al Dhafra Co-operative, said, "We are thrilled to be partnering with Khalifa Fund to promote entrepreneurship and support SMEs in the F&B sector. With the benefits that Khalifa Fund members will receive, including waived entry fees and access to training, we hope to help local businesses and entrepreneurs grow and succeed. We look forward to a successful partnership with Khalifa Fund and supporting the growth of the F&B sector in the UAE."

Khalifa Fund will also showcase the winning product from the F&B Innovation Lab 2.0, the Ghaf tree drink and shot manufactured by Barakat. The F&B Innovation Lab was launched by Khalifa Fund to encourage and support innovative ideas within the food and beverage industry.