Latest news with #FatimaYousifAlnaqbi
Zawya
2 days ago
- Business
- Zawya
MBRIF concludes its Ninth Innovation Accelerator Cohort with Demo Day spotlighting top startups across key sectors
Dubai, UAE: The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance to foster innovation and support innovators across the UAE, held its Demo Day to showcase the groundbreaking innovations presented by members of Cohort 9 from its Innovation Accelerator Program. The event featured innovative companies operating in the UAE and globally, aiming to expand their presence in the country. These companies represent key sectors such as health, transport, education, technology, clean energy, water, and space. The participating startups competed for three awards: Best Pitch, Best UAE Homegrown Business and Most Impactful Business. The event commenced with welcome remarks by Shaker Zainal, Head of Mohammed Bin Rashid Innovation Fund (MBRIF) and Chief Business Officer at Emirates Development Bank, and a keynote address by H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, followed by creative and innovative presentations delivered by member companies. Commenting on the occasion, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, and the Ministry's representative at the Mohammed Bin Rashid Innovation Fund, said: "We are proud to celebrate the achievements of the ninth cohort members of the Innovation Accelerator Program, whose contributions and presentations clearly reflected our aspirations for the National Innovation Strategy. Their outstanding efforts highlight the incredible potential of innovative businesses to shape the future of the UAE's economy." She continued: "At the Mohammed Bin Rashid Innovation Fund, we are committed to providing comprehensive support to these companies through tailored mentorship, strategic networking opportunities, and world-class resources. This approach ensures that they are well-equipped to grow, excel, and compete on a global scale." Fatima Alnaqbi concluded by congratulating all participating members and award winners, adding: "We look forward to supporting these companies as they continue their journey toward new heights of success and innovation." A distinguished panel of judges was responsible for analyzing and evaluating the creative and innovative presentations that the startups delivered. It included Ali AlMajthoob, Managing Director at MEVP; Ivo Detelinov, General Partner at Salica Investments; and Karim Konsowa, Portfolio Manager at Hub71. The evaluations focused on showcasing the unique strengths and promising potential of the participating companies in both local and global markets. At the end of the Demo Day event, the distinguished judges presented the awards to the winners. The Best Pitch Award was won by Aura, while the Best UAE Homegrown Business Award went to Mantas. The Most Impactful Business Award was awarded to Neuroblast. The MBRIF Innovation Accelerator Program continues to position itself as a key enabler of entrepreneurship and innovation in the UAE, driving the growth of innovative startups across vital sectors in alignment with the UAE's National Innovation Strategy. The program provides its members with specialised mentorship, industry insights, and global networking opportunities to enhance their competitive capabilities and expand their businesses. The Demo Day serves as a pivotal platform for startups to showcase their innovations to a select group of investors, offering them valuable exposure, funding opportunities, and the tools to accelerate their growth sustainably. About the MBRIF: The Mohammed bin Rashid Innovation Fund (MBRIF) is a federal initiative launched by the Ministry of Finance and is operated by Emirates Development Bank. Since its launch in 2016, the MBRIF has supported innovators through its first program, the Guarantee Scheme, which offers members access to affordable funding through a government-backed guarantee and without taking equity. The MBRIF's second program, the MBRIF Accelerator, was launched in December 2018. Aligned with the UAE National Innovation Strategy, the initiative aims to enhance growth potential of innovative businesses shaping the future of UAE's economy. The MBRIF Accelerator offers world-class services and coaching to member companies to accelerate their business, elevate capabilities, unlock value and achieve scale. Additionally, the MBRIF partners with the public and private sector to help facilitate growth, provide support, create opportunities and pave the way to success for its member companies in the UAE.
Zawya
15-04-2025
- Business
- Zawya
UAE-based e-commerce firm Quiqup launches Saudi operations
Quiqup, a UAE-based e-commerce logistics provider, has launched its core fulfillment and delivery services in Saudi Arabia, marking a major milestone in its regional expansion. This move is backed by the strategic support of the Mohammed bin Rashid Innovation Fund (MBRIF), which has played a pivotal role in helping Quiqup expand its operations and double its business in the past two years. The company's expansion comes after its notable impact on the UAE's e-commerce ecosystem and aligns with its strategy to offer integrated logistics solutions to businesses across the GCC. Founded in the UAE in 2017, Quiqup provides comprehensive logistics services, focusing on small and medium-sized enterprises (SMEs). The company offers storage, sorting, packaging, and delivery services. With its expansion into Saudi Arabia, commercial clients in the Kingdom can now access Quiqup's reliable and efficient fulfillment services. Strategic Support Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at MoF, and the ministry's representative at MBRIF, said: "Supporting the success of high-potential innovators who contribute to economic growth is one of the core objectives of the Mohammed bin Rashid Innovation Fund. Quiqup's journey exemplifies how strategic support, combined with innovation and market expertise, can drive a company's growth and create a meaningful economic impact." She added: "Over the past few years, we have worked closely with Quiqup through our Guarantee Scheme and have seen the company's outstanding potential in reshaping the e-commerce logistics sector in the UAE. Its expansion into Saudi Arabia is a testament to its ability to apply its expertise and innovative solutions in new markets. We look forward to supporting its continued growth across the region." Driving Growth Bassel El Koussa, CEO of Quiqup, said: "Our expansion into Saudi Arabia is a natural next step, driven by our customers' evolving needs. With the increasing demand for seamless cross-border logistics solutions, we are proud to extend our services to neighboring markets. We see the GCC as a connected e-commerce ecosystem where operational efficiencies in one market enhance the overall regional performance." "By building a robust and integrated platform, we are not only expanding our reach but also contributing to a more efficient and interconnected logistics network. Our strong track record in the UAE serves as a solid foundation for our operations in Saudi Arabia, and we look forward to working with e-commerce businesses in the Kingdom to support their growth and contribute to the local economy," he added. A key driver behind Quiqup's success has been the Mohammed Bin Rashid Innovation Fund (MBRIF), which supported the company through its Guarantee Scheme loan program. This strategic backing enabled Quiqup to scale operations, double its business in two years, and grow its customer base by 77% year-on-year between 2023 and 2024, multiplying it by 25X since 2021. The company remains on track to achieve profitability by Q4 2025, a statement said. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arab News
14-04-2025
- Business
- Arab News
UAE startup Quiqup enters Saudi logistics market
Quiqup, a UAE-based e-commerce logistics provider, has launched its core fulfillment and delivery services in Saudi Arabia, marking a major milestone in its regional expansion. This move is backed by the strategic support of the Mohammed bin Rashid Innovation Fund, which has played a pivotal role in helping Quiqup expand its operations and double its business in the past two years. The company's expansion comes after its notable impact on the UAE's e-commerce ecosystem and aligns with its strategy to offer integrated logistics solutions to businesses across the GCC. Founded in the UAE in 2017, Quiqup provides comprehensive logistics services, focusing on small and medium-sized enterprises. The company offers storage, sorting, packaging, and delivery services. With its expansion into Saudi Arabia, commercial clients in the Kingdom can now access Quiqup's reliable and efficient fulfillment services. Fatima Yousif Alnaqbi, acting assistant undersecretary for the support services sector at UAE Ministry of Finance, and the ministry's representative at MBRIF, said: 'Supporting the success of high-potential innovators who contribute to economic growth is one of the core objectives of the Mohammed bin Rashid Innovation Fund. Quiqup's journey exemplifies how strategic support, combined with innovation and market expertise, can drive a company's growth and create a meaningful economic impact.' She added: 'Over the past few years, we have worked closely with Quiqup through our Guarantee Scheme and have seen the company's outstanding potential in reshaping the e-commerce logistics sector in the UAE. Its expansion into Saudi Arabia is a testament to its ability to apply its expertise and innovative solutions in new markets. We look forward to supporting its continued growth across the region.' Bassel El-Koussa, CEO of Quiqup, said: 'Our expansion into Saudi Arabia is a natural next step, driven by our customers' evolving needs.' With the increasing demand for seamless cross-border logistics solutions, we are proud to extend our services to neighboring markets. We see the GCC as a connected e-commerce ecosystem where operational efficiencies in one market enhance the overall regional performance.' 'By building a robust and integrated platform, we are not only expanding our reach but also contributing to a more efficient and interconnected logistics network. Our strong track record in the UAE serves as a solid foundation for our operations in Saudi Arabia, and we look forward to working with e-commerce businesses in the Kingdom to support their growth and contribute to the local economy,' he added.
Trade Arabia
14-04-2025
- Business
- Trade Arabia
UAE-based e-commerce firm Quiqup launches Saudi operations
Quiqup, a UAE-based e-commerce logistics provider, has launched its core fulfillment and delivery services in Saudi Arabia, marking a major milestone in its regional expansion. This move is backed by the strategic support of the Mohammed bin Rashid Innovation Fund (MBRIF), which has played a pivotal role in helping Quiqup expand its operations and double its business in the past two years. The company's expansion comes after its notable impact on the UAE's e-commerce ecosystem and aligns with its strategy to offer integrated logistics solutions to businesses across the GCC. Founded in the UAE in 2017, Quiqup provides comprehensive logistics services, focusing on small and medium-sized enterprises (SMEs). The company offers storage, sorting, packaging, and delivery services. With its expansion into Saudi Arabia, commercial clients in the Kingdom can now access Quiqup's reliable and efficient fulfillment services. Strategic Support Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at MoF, and the ministry's representative at MBRIF, said: "Supporting the success of high-potential innovators who contribute to economic growth is one of the core objectives of the Mohammed bin Rashid Innovation Fund. Quiqup's journey exemplifies how strategic support, combined with innovation and market expertise, can drive a company's growth and create a meaningful economic impact." She added: "Over the past few years, we have worked closely with Quiqup through our Guarantee Scheme and have seen the company's outstanding potential in reshaping the e-commerce logistics sector in the UAE. Its expansion into Saudi Arabia is a testament to its ability to apply its expertise and innovative solutions in new markets. We look forward to supporting its continued growth across the region." Driving Growth Bassel El Koussa, CEO of Quiqup, said: "Our expansion into Saudi Arabia is a natural next step, driven by our customers' evolving needs. With the increasing demand for seamless cross-border logistics solutions, we are proud to extend our services to neighboring markets. We see the GCC as a connected e-commerce ecosystem where operational efficiencies in one market enhance the overall regional performance." "By building a robust and integrated platform, we are not only expanding our reach but also contributing to a more efficient and interconnected logistics network. Our strong track record in the UAE serves as a solid foundation for our operations in Saudi Arabia, and we look forward to working with e-commerce businesses in the Kingdom to support their growth and contribute to the local economy," he added. A key driver behind Quiqup's success has been the Mohammed Bin Rashid Innovation Fund (MBRIF), which supported the company through its Guarantee Scheme loan program. This strategic backing enabled Quiqup to scale operations, double its business in two years, and grow its customer base by 77% year-on-year between 2023 and 2024, multiplying it by 25X since 2021. The company remains on track to achieve profitability by Q4 2025, a statement said. – TradeArabia News Service
Mid East Info
14-04-2025
- Business
- Mid East Info
UAE-Based E-Commerce Logistics Provider ‘Quiqup' Launches Operations in Saudi Arabia - Middle East Business News and Information
Quiqup aims to strengthen its presence across the GCC. Regional expansion follows the company's significant contribution to the UAE economy and rising demand for efficient fulfillment and delivery solutions. Dubai, UAE: Quiqup, a UAE-based e-commerce logistics provider, has successfully launched its core fulfillment and delivery services in Saudi Arabia, marking a major milestone in its regional expansion. This move is backed by the strategic support of the Mohammed bin Rashid Innovation Fund (MBRIF), which has played a pivotal role in helping Quiqup expand its operations and double its business in the past two years. The company's expansion comes after its notable impact on the UAE's e-commerce ecosystem and aligns with its strategy to offer integrated logistics solutions to businesses across the GCC. Founded in the UAE in 2017, Quiqup provides comprehensive logistics services, focusing on small and medium-sized enterprises (SMEs). The company offers storage, sorting, packaging, and delivery services. With its expansion into Saudi Arabia, commercial clients in the Kingdom can now access Quiqup's reliable and efficient fulfillment services. Strategic Support: Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at MoF, and the Ministry's representative at MBRIF, said: 'Supporting the success of high-potential innovators who contribute to economic growth is one of the core objectives of the Mohammed bin Rashid Innovation Fund. Quiqup's journey exemplifies how strategic support, combined with innovation and market expertise, can drive a company's growth and create a meaningful economic impact.' She added: 'Over the past few years, we have worked closely with Quiqup through our Guarantee Scheme and have seen the company's outstanding potential in reshaping the e-commerce logistics sector in the UAE. Its expansion into Saudi Arabia is a testament to its ability to apply its expertise and innovative solutions in new markets. We look forward to supporting its continued growth across the region.' Driving Growth: Bassel El Koussa, CEO of Quiqup, said: 'Our expansion into Saudi Arabia is a natural next step, driven by our customers' evolving needs. With the increasing demand for seamless cross-border logistics solutions, we are proud to extend our services to neighboring markets. We see the GCC as a connected e-commerce ecosystem where operational efficiencies in one market enhance the overall regional performance.' 'By building a robust and integrated platform, we are not only expanding our reach but also contributing to a more efficient and interconnected logistics network. Our strong track record in the UAE serves as a solid foundation for our operations in Saudi Arabia, and we look forward to working with e-commerce businesses in the Kingdom to support their growth and contribute to the local economy,' he added. A key driver behind Quiqup's success has been the Mohammed Bin Rashid Innovation Fund (MBRIF), which supported the company through its Guarantee Scheme loan program. This strategic backing enabled Quiqup to scale operations, double its business in two years, and grow its customer base by 77% year-on-year between 2023 and 2024, multiplying it by 25X since 2021. The company remains on track to achieve profitability by Q4 2025. Quiqup's success goes beyond business growth, significantly contributing to the UAE economy. According to a 2024 report on e-commerce logistics, Quiqup injected AED 86 million into the local economy from 2021 to the end of 2023 through salaries, supplier partnerships, and investments in local courier agencies and logistics providers. In addition to its direct contributions, Quiqup has played a key role in job creation, empowering SMEs to expand and hire more staff. The report estimates that Quiqup indirectly generated at least 350 full-time jobs and 60 direct positions in 2023, including couriers, warehouse staff, car rental company employees, and e-commerce business personnel. Following the report's publication, Quiqup also announced it facilitated AED 580 million in trade in 2024, further strengthening its role in enhancing the e-commerce supply chain. Building on its strong performance in the UAE and its successful entry into Saudi Arabia, Quiqup plans to continue its expansion across other GCC markets.
