Chairman Al Nowais revealed that the new centre will have a capital of USD 20 million (AED 73.6 million) to help fund a series of special programs and initiatives aimed towards promoting innovation and SME development in Senegal and the rest of the West African region.
H.E. Hussain Jasim Al Nowais, Chairman, Khalifa Fund for Enterprise Development (KFED) laid the foundation stone for what will soon become the Mohamed bin Zayed Centre for Innovation and Entrepreneurship, a new facility located at the Senegalese capital of Dakar aimed towards promoting innovation and entrepreneurship among local businesses, particularly small and medium enterprises (SMEs). Present during the stone laying ceremony were H.E. Amadou Hott, Senegalese Minister of Economy, Planning and International Cooperation; Papa Amadou Sarr, General Delegate of Rapid Entrepreneurship for Youth and Women; and H.E. Mohammed Ali Al Shamsi, Charge d’Affaires at the UAE Embassy in Dakar, along with representatives from both countries.
Chairman Al Nowais revealed that the new centre will have a capital of USD 20 million (AED 73.6 million) to help fund a series of special programs and initiatives aimed towards promoting innovation and SME development in Senegal and the rest of the West African region. The new centre is being developed to help enable a series of projects designed to strengthen the government’s efforts to create a stable and balanced economy while also opening job opportunities for the youth, empower women and build the capacity of entrepreneurs and local institutions.
He explained that the centre will become a platform to support innovation and serve as a financial and technical haven for those with the skills and creative potential to achieve their ambitions and establish their own projects, which will contribute to the national economy of Senegal and its neighbouring West African countries.
The Mohamed Bin Zayed Centre for Innovation and Entrepreneurship will also include a business incubator placing strong focus on technology, a business accelerator, related offices and specialized laboratories needed in the preparation of models for 3D printing, aviation, electronics and robotics.
Al Nowais shared that the new centre will provide key services for local entrepreneurs, including hosting companies, training, financing, guidance and consulting.