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Social start-ups garner incubator status in UAE

Social start-ups shortlisted for the ‘Ma’an Social Incubator’ programme were taught the basics of a successful business pitch today at a masterclass organised by the Authority for Social Contribution, Ma’an.

The training was designed to prepare the teams for their formal pitch to a judging panel in late August where the 25 finalists will be narrowed down to 10 teams who will participate in the incubator programme.

The first incubator of its kind in Abu Dhabi focused on growing social businesses, the ventures proposed by all teams will deliver solutions for people of determination (persons with disabilities) living in the capital.

Ma’an will invest more than AED4.4million in the 10 teams to participate in the incubator, available in the form of milestone funding, mentorship, office space, business expertise and access to investors.

Established in February 2019 by the Department of Community Development in Abu Dhabi, Ma’an aims to bring together government, private sector and civil society entities to support a culture of social contribution and participation.

The authority will deliver solutions for social challenges with four main pillars of work – a Social Investment Fund, a Social Incubator Programme, Community Engagement Programmes and the introduction of a new type of public contracting, Social Impact Bonds.

Ma’an is part of the ‘Ghadan 21’ programme that is working to accelerate Abu Dhabi’s economy.

Source: WAM

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