AURAK and the Khalifa Fund for Enterprise Development Make Way for New Local Businesses

The Student Life Department of the American University of Ras Al Khaimah (AURAK) in collusion with The Khalifa Fund for Enterprise Development (KFED) hosted a two part workshop entitled the “Khalifa Fund Open Day” in order to educate young Emirate entrepreneurs over the protocol of how to start their own businesses.

Mr. Raed Daoudi, SME Growth and Specialized Trainer, represented KFED for the day at AURAK in a two-part workshop held in the Multi-Purpose Hall of Building G.  Part one, “On Spot Counseling,” provided on-the-spot counseling for any local, AURAK student aged twenty-one and older. The counseling session was to assist students with aspirations of one day starting a company with advisement, procedures, policies, and any forms concerned with starting a new business.  Part two was the “Khalifa Fund Awareness Session.” Mr. Raed educated the students in his engaging presentation about the capabilities of The Khalifa Fund for Enterprise Development and general information enlightening students on the differences between an independently owned company and a franchise, and what information to consider in deciding which type of company students would like to start.

AURAK President, Prof. Hassan Hamdan Al Alkim, was excited with having Khalifa Fund for Enterprise Development on campus in that it encourages student innovation and urges students to find ways to market practical uses for those innovative ideas, “Within this university are numerous students with fantastic ideas just waiting to be utilized, we just need to clear the path, and steer them in the correct direction in how to make their dreams a reality.”

The American University of Ras Al Khaimah, United Arab of Emirates (UAE) is a government-owned institution of higher education which provides an integrated North American-style education. It is accredited by the Ministry of Higher Education and Scientific Research in UAE and offers a total of twenty-two undergraduate and graduate programs across a wide range of disciplines. The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) awarded the institution candidacy status in July 2017.

The Khalifa Fund for Enterprise Development is a UAE government supported, non-profit agency established in 2007 and based out of Abu Dhabi that provides commercial lending, finance services, and business consulting services to help develop small and medium sized local companies, as well as supporting small investments in the Emirates.