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DMCC, the UAE’s largest free zone, has joined the 2021 edition of the C3 Social Impact Accelerator Program, powered by HSBC, as a partner and will provide the winner with a two-year business licence.
Feryal Ahmadi, Chief Operating Officer, DMCC, said: “We are thrilled to be partnering with C3 to support enthusiastic, talented and innovative entrepreneurs. One of the key elements to consider when setting up and growing a business is being in the right ecosystem and being connected to global networks – both of which DMCC provides to its members. This is why 18,000 companies have chosen DMCC as their place to do business – and this network will undoubtedly prove very useful to the accelerator’s next winner. As a responsible organisation, committed to the UN Global Compact, we are always looking for ways to make a positive impact and contribution in everything that we do, including the partnerships we embark on. We look forward to welcoming another company that strives to advance the Sustainable Development Goals.”
The C3 program, now in its third year, has already confirmed the 42 participants to make the 2021 semi-finals. The successful participants have undergone a three-week learning journey where they will be trained by experts on various business growth pillars to accelerate their startup and amplify their social impact. They also had the opportunity to engage with C3 alumni and senior business experts from HSBC, DMCC, Bain & Company and Al Tamimi & Company during the opening ceremony.
The learning journey has been designed in collaboration with C3’s learning partners, Italy-based Business Performance Institute (BPI), UK-based Yonder Data Solutions and Finland-based Claned, to create a bespoke learning experience for the entrepreneurs.
"We are really excited about the commencement of this year’s program and believe that the entrepreneurs who are creating a positive impact in the world will benefit from it, as it has been designed to take them through a very unique blended learning experience that will accelerate their business growth and amplify their impact”, said Medea Nocentini, the co-founder of C3.
Shortlisted from a pool of 1,000 applicants, the 42 semi-finalists come from Algeria, Bahrain, Egypt, Kuwait, Oman, Saudi Arabia, Turkey, and the UAE, and all address UN Sustainable Development Goals.
Sabrin Rahman, Head of Sustainability for Europe and the Middle East at HSBC, congratulated the semi-finalists and highlighted how the program will support them to systematically embed ESG and sustainable principles within their organisation. Rahman said: “There is a common theme around sustainable development and ESG. It really is an area of resilience for companies of the future, which is why your role as social entrepreneurs is so much more important and more prominent than ever before.”
The next stage of the programme involves selecting 20 finalists to continue their learning journey, connect with impact investors and compete for the final prize. The top three finalists will receive equity-free cash prizes - courtesy of HSBC - in addition to pro bono consulting support from C3’s program supporters, Bain & Company and Al Tamimi & Company with a total estimated prize value of USD 750,000.
The winner of the final competition, which will be held in July, will also be offered the opportunity to join a network of 18,000 companies by obtaining a two-year business licence from DMCC, which will provide them the opportunity to expand their business and interact with the entrepreneur community in Dubai.
For more information about the program, visit: