Dubai Multi Commodities Centre (DMCC), the fastest-growing free zone authority in the region has partnered with UAE-based social enterprise C3 (Companies Creating Change) to launch the Impact Scale-Up Program.
The comprehensive training and networking program will support 20 businesses contributing to the UN Sustainable Development Goals (SDG), enabling them to establish a presence in the UAE and leverage the local ecosystem as a launchpad for successful development across the MEA region.
The Impact Scale-Up Program will provide a proven blueprint to successfully enter the UAE market, as well as connections with national and regional investors and blue-chip companies. Applications are now open and will close on 30 April 2022. Businesses can apply to the program on the C3’s dedicated page.
Feryal Ahmadi Chief Operating Officer DMCC
“Creating a positive social and environmental impact is essential for businesses to provide true value to shareholders in today’s world. This is a philosophy that DMCC lives by, and one that we encourage across our community of over 20,000 member companies. In doing so, we broaden and extend our ESG reach and support the UAE’s sustainability agenda. Partnering with C3 is the latest step in this journey, as we look to enable businesses that are having a substantial positive impact across the world.”
The C3 helps entrepreneurs in the Middle East and Africa in unlocking their growth potential and maximizing their positive impact on the community. Its programs accelerate their growth and impact with the support of experienced professionals and impact investors.
Speaking about the initiative, Ms. Medea Nocentini, Founder of C3, observed that, “We are delighted to partner with DMCC on this important initiative, empowering and supporting 20 impact-driven businesses establishing their presence in the UAE. Our program provides innovative and ambitious founders with the opportunity to learn the fundamentals of business growth and impact measurement while connecting them with relevant experts, potential clients, and strategic investors. In the local markets, there is a significant opportunity for companies that have an impact at the core of their strategy, so we are looking forward to kick-starting their expansion journeys and enabling them to create a positive impact across the region.”
DMCC will be offering a total of 20 ‘Impact’ business licenses to successful companies, providing them with substantial savings on business setup costs through a 70 percent discount on license fees and flexi-desk space for two years. DMCC will also be providing further discounts on license renewal from the third to the fifth year. Additionally, the successful start-ups will receive access to DMCC’s unparalleled facilities as well as its community of over 20,000 member companies to connect and network.
This partnership forms part of DMCC’s broader ESG strategy, in which it looks to create value for the communities in which it operates. DMCC currently dedicates 0.5 percent of its annual profits to social impact initiatives. DMCC is the first Free Zone in the UAE to support companies with a social purpose in such a way.
In 2017, DMCC became the first free zone in the GCC to commit to the United Nations Global Compact (UNGC), encouraging responsible business practice throughout the entire value chain. As part of its commitment to the UNGC, DMCC publishes an annual sustainability report that highlights its progress on sustainability targets.
