Aldar Properties launched the third cycle of its Manassah programme, a six-month incubator aimed at cultivating entrepreneurial talent and developing retail concepts in the UAE.
The latest cycle is aimed at small and medium enterprises in the food and beverage industry, as well as retail products and services, the developer said on Monday.
The programme, held in partnership with Abu Dhabi-based accelerator startAD, is now receiving applications from retail SMEs such as cafes, restaurants, boutiques, wellness spaces and other store concepts.
“At Aldar, we are committed to facilitating and accelerating the growth of our retail landscape by supporting and investing in innovative concepts,” said Saoud Khoory, chief retail officer at Aldar Investment.
“Through the Manassah programme, we have already mentored, advanced or initiated projects with over 40 start-ups and retail concepts, and we are now looking to expand this further with the third edition of the programme.”
Initiatives such as Manassah will “help build a strong home-grown retail ecosystem, in which start-ups can thrive”, he said.
SMEs represent 94 per cent of the companies operating in the UAE, provide jobs for more than 86 per cent of the private sector's workforce and make up more than 60 per cent of the national gross domestic product.
This year, Manassah is bringing onboard partners such as Khalifa Fund and Cloud Spaces. These partnerships will add to the programme through workshops, mentorship, network access, introductions and financial incentives.
Aldar and startAD will support participants by providing them with the necessary tools to set up their ventures.
Businesses accepted into the programme will benefit from workshops and resources from experts, helping entrepreneurs to refine, improve and validate their business models.
Participants will also receive networking opportunities, as well as access to local and global strategists and retail experts.
“[The] UAE is the most sought-after retail destination for a retail entrepreneur. On average, a household in the UAE spends double the global amount on shopping and e-commerce. SMEs have an important role to play here,” startAD managing director Ramesh Jagannathan said.
Manassah has advanced 40 start-ups and concepts to date. This includes Coffee Architecture, Alkalime, and Wake n’ Bake, the winners of the first cycle, all of which are bringing their concepts to Aldar’s Mamsha Al Saadiyat.
The second incubator welcomed 12 finalists, with three of the start-ups — DesignHubz, Mr Draper and IHearYou — securing commercial projects with Aldar.
The deadline for submitting applications for the third cycle of Manassah is August 21. Winners will receive equity-free financial incentives and space at an Aldar retail destination, the developer said.
