27 Dec 2022
Entrepreneurial Nation and Foodics launch initiative to support digital transformation of UAE’s food and beverage startups
H.E. Al Saleh: We will continue to support startups by strengthening partnerships with leading companies. The latest initiative will support the growth of F&B companies by leveraging modern technology
Through a new partnership with Foodics, the leading restaurant management solutions provider in MENA, The Entrepreneurial Nation launched a new initiative to support the digital transformation of startups and fast-growing companies operating in the UAE’s food and beverage (F&B) sector. The initiative will provide benefits and incentives, including training programs and various discounts that can enhance the access of SMEs to new market opportunities, which will in turn increase their productivity and revenues in this vital sector.
H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, confirmed that The Entrepreneurial Nation will continue to support the startups sector in the country by strengthening its partnerships with leading local and global companies and entities, thus contributing to strengthening the UAE's position as a leading destination for entrepreneurs from all over the world. H.E. Al Saleh stated that the partnership with Foodics is part of phase II of The Entrepreneurial Nation, the leading national project to enable SMEs, through which companies operating in the F&B sector will be able to achieve more growth by harnessing the potential of modern technology. This will reflect positively on the UAE's GDP, and will contribute to enhancing the flexibility and competitiveness of the national economy in light of the objectives of the 50.
The Ministry of Economy stated that within the framework of the partnership between The Entrepreneurial Nation and Foodics, many incentives will be provided to selected companies that join the two-phase program. These include free training to improve the performance of F&B startups and that of high-growth companies based in the UAE. The participants will be offered attractive discounts that include a set of devices, basic and advanced strategies, and a digital ordering platform that provides nearly AED 2000 for each product. In addition, the program will provide advanced food plan and access to the Foodics website for AED 5,999, offering participants a 50 per cent discount on an array of key Foodics devices at each branch. Besides, the participants will be able to take advantage of Foodics digital systems, including the cloud-based selling system that processes payments digitally, manages the menu, and creates dashboards.
In the first phase of the program, a workshop will be held for 50 startups and 50 high-growth companies. During the workshop, participants will get to learn about some key business development strategies. They will also benefit from the services provided by the Foodics Academy on a permanent basis, along with an opportunity to network with companies in a way that enhances the exchange of experience and access to best practices in the F&B sector, and contributes to enhancing partnership and growth opportunities.
Subsequently, the second phase of the program will provide shortlisted candidates from the first phase an in-depth six-week training program based on an individual survey that assesses the participants' key challenges. As for the eligibility criteria to be considered for the program, the candidates must be legally registered in the UAE, and should be operating in the F&B sector. They must have a clear vision for business expansion, in addition to a passion for developing businesses related to the same field (such as product development, financing, and restaurant operations management).
The Ministry of Economy confirmed that there are no registration fees to apply for the program and those companies wishing to join can register via the following link: The Entrepreneurial Nation.
The Ministry of Economy had launched the first phase of The Entrepreneurial Nation in November 2021 as a comprehensive platform aimed at supporting the growth of startups in the country. It works to create a suitable environment for the expansion of their businesses, providing support to more than 8,000 startups and entrepreneurial projects in the country, with an aim to transform more than 20 startups into unicorns by 2031.
The phase II of the initiative was launched in October 2022 featuring ten new programs in cooperation with a wide range of global strategic partners to support the growth and global expansion of SMEs from the UAE. The first initiatives of phase II were launched recently and included partnerships with various regional and global markets, including the Republic of South Korea, the Republic of India, the Republic of Latvia, and the Kingdom of Saudi Arabia.
Foodics is a leading provider of restaurant management technology and cloud-based payments in the MENA region. The company provides a comprehensive system for digitization based on software. The Foodics system serves various activities in the restaurants and cafes sector, and since its inception in 2014, the company has processed more than six billion applications through its platform.