Aldar launches second cycle of its highly successful "Manassah" entrepreneurship programme

• Winners of Manassah 2.0 will receive incentives worth up to AED 1 million
• Manassah 2.0 is inviting applications from retail businesses across the GCC and is launching an exclusive youth-focused initiative with Aldar Academies

Abu Dhabi: Aldar Properties (‘Aldar’) has launched the second round of its Manassah programme – a six-month entrepreneurship incubator aimed at nurturing entrepreneurial talent and advancing homegrown retail concepts in the GCC.

Held in partnership with startAD, the global startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi, Manassah 2.0 will build on the successes seen in the first round of the programme. Manassah 1.0 was originally targeted at UAE-based SMEs operating within the retail, café and restaurant space, however the second round will be open to a broader range of retail businesses including technology enabled startups and projects driving sustainability from across the GCC. Winners of Manassah 2.0 will receive financial contributions worth up to AED 1 Million including a space at an Aldar retail destination. In addition, retail tech startups will benefit from opportunities to pilot their solutions with Aldar Properties.  

Manassah 2.0 is welcoming submissions across two main categories – Retail SMEs such as cafes, restaurants, services and sustainable solutions, and Retail Tech such as e-commerce and sustainability-focused tech applications. Submissions are now open and the deadline is set for May 22.

Alongside the Manassah incubator, Aldar is launching an exclusive youth-focused initiative through its Aldar Academies. Manassah Youth will develop the next generation of regional entrepreneurs through a dedicated training programme focused on finding solutions to complex problems and turning concepts into viable commercial strategies. Further, this edition of Manassah also brings together the Ministry of Culture & Youth, Khalifa Fund, the Department of Community Development, and the Brinc accelerator as partners that will empower startups with network access, and business advancement opportunities.

Commenting on the second round of the competition, Sheikha Alia Khalid Al Qassimi, Deputy Undersecretary for the Cultural and Creative Industries Sector, Ministry of Culture and Youth, said that the Ministry was delighted to extend its support, particularly in light of the importance given to SMEs in the cultural and creative industries. “Through our partnership with the programme, we aim to encourage entrepreneurship within the creative economy and provide new opportunities for creatives and innovators. One of the Ministry’s primary goals is to help increase the contribution of the Cultural and Creative Industries to the country’s GDP. The Creative Economy has become a key driver of economic growth across the globe, including our region,” she pointed out.

Saoud Khoory, Chief Retail Officer, Aldar Investment, said: “The success of the first cycle of Manassah, which brought three retail concepts to life at Aldar’s Mamsha Al Saadiyat, demonstrates the abundance of talent we have in the UAE and wider region. Innovation is key to driving the future of the retail sector in the UAE, and we at Aldar are committed to playing an active role in accelerating this growth through investing in concepts that reimagine and redefine the customer journey. The combination of the Manassah programme and Abu Dhabi’s intrinsic entrepreneurial spirit places the emirate in a great position to capitalise on the opportunities that this growth provides. As Manassah continues to develop and evolve, we are able to build a home-grown innovation ecosystem that supports retail entrepreneurs and SMEs across the UAE.”

startAD and Aldar will support participants in the curated incubation programme by providing them with the necessary tools to advance, scale, and launch their ventures. As part of the programme, accepted businesses will receive training and mentorship from the best local and global entrepreneurship, retail, and tech experts.

Ramesh Jagannathan, the Managing Director of startAD and also the Vice Provost of Innovation at NYU Abu Dhabi commented, “The past 12 months have been challenging for the retail sector, however, this has opened up many new opportunities. In two short years, by 2023, retail in the GCC is estimated to grow to USD 308 Billion. Manassah is cultivating a community of entrepreneurs that can redefine the global retail landscape to meet evolving customer needs. Today, UAE is the fifth largest retail destination in the world. The resounding success of the first edition of Manassah echoes the drive of our regional entrepreneurs. We are also inspired by the phenomenal gender inclusivity we saw with 83% of the finalist businesses being founded by female entrepreneurs and 67% of the winners having an Emirati woman as the founder.

For a retail entrepreneur in the GCC, this is the right place and the right time. Aldar and startAD invite you to take advantage of Manassah - the unique opportunity to get ahead of the market impacted by the pandemic, and overcome scalability challenges through the right support, resources & partners.”

After 150 submissions, Manassah 1.0 saw three concepts, Coffee Architecture, Alkalime and Wake n’ Bake, chosen as the winners of the first cycle of the competition, receiving equity-free incentives worth up to AED 1 million and a turnover rent deal for one year at Aldar’s Mamsha Al Saadiyat. Coffee Architecture is a speciality coffee house built by the first female Emirati certified Q grader and is designed around minimalism, passion, art and love in Abu Dhabi; Alkalime is a feel-good café concept offering customers healthy, nutritious and tasty food and drinks in a relaxing and eco-friendly space; and Wake n' Bake is a home-grown bakery by a female Emirati chef that specialises in hand-crafted breads, custard doughnuts and other baked goods freshly made by hand.

Manassah is an Aldar Youth Council initiative first submitted as part of Aldar’s Ibtikar challenge, an internal innovation programme which encourages employees to take an active role in Aldar’s future growth and direction. Aldar Youth Council was set up in 2018, with the aim to actively empower Aldar youth, unlock their full career potential, and engage with other Youth Councils across the country.

For more information on how to enter the competition, please visit http://manassah.info/ 

-Ends-

For further information, please contact:
Media
Obaid Al Yammahi
Aldar Properties
+971 2 810 5555 

Joudi Issa
Brunswick
+971 2 234 4600
ALDAR@brunswickgroup.com

About Aldar

Aldar Properties PJSC is the leading real estate developer and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 65 million sqm land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business, including AED 45 billion of government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

Aldar Investment houses Aldar’s core asset management business comprising an AED 16 billion portfolio of investment grade and income-generating real estate assets diversified across retail, residential and commercial segments. It also manages three core platforms: Aldar Education, Aldar Estates and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, including Aldar Academies, the leading education group in Abu Dhabi, with 20 schools, over 24,000 students and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy.

Aldar Estates consolidates Aldar’s Retail Operations alongside existing Residential and Commercial real estate operations within Provis and will further include Community Management under one integrated property management platform. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat. It includes Aldar’s portfolio of 10 hotels, comprising over 2,900 hotel keys and managing operations across golf courses, beach clubs and marinas.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.

For more information on Aldar please visit www.aldar.com :

About startAD
startAD is an Abu Dhabi-based global accelerator, steering seed-stage technology startups to launch, develop, and scale their ventures. Powered by Tamkeen and anchored at NYU Abu Dhabi, the accelerator equips startups to pilot solutions with industry leaders, while enabling corporates to innovate with startups disrupting their core businesses.

startAD has the unique domain expertise and state-of-the-art facilities to develop startups with a focus on hardware and AI, as well as other solutions in priority industries including aviation, energy, sustainability, construction, and security. Enrolled startups benefit from startAD’s extensive range of programmes and global network of investors, mentors, and experts, in addition to access to startAD’s seed fund for local startups. Since startAD’s launch in 2016, participating startups have raised USD 72 million in investment, generated USD 50 million in revenue, secured over 50 pilot projects with corporations, and created over 250 jobs.

About Tamkeen
Tamkeen is an Abu Dhabi based company mandated to deliver projects to meet the UAE’s vision of knowledge-based development. Tamkeen works with a variety of local and international institutions to enrich the UAE’s social, cultural and educational landscape.

About NYU Abu Dhabi
NYU Abu Dhabi is the first comprehensive liberal arts and science campus in the Middle East to be operated abroad by a major American research university. NYU Abu Dhabi has integrated a highly-selective liberal arts, engineering and science curriculum with a world center for advanced research and scholarship enabling its students to succeed in an increasingly interdependent world and advance cooperation and progress on humanity’s shared challenges. NYU Abu Dhabi’s high-achieving students have come from 115 nations and speak over 115 languages. Together, NYU's campuses in New York, Abu Dhabi, and Shanghai form the backbone of a unique global university, giving faculty and students opportunities to experience varied learning environments and immersion in other cultures at one or more of the numerous study-abroad sites NYU maintains on six continents.

© Press Release 2021