Al Islami Foods and Alf Yad, a Dubai based venture capital fund for young Arab entrepreneurs have announced ar strategic collaboration that will see Alf Yad raise and deploy AED 100 million to promising Arab entrepreneurs across the region.
Al Islami Foods and Alf Yad will establish a strong business-base for young Arab entrepreneurs, offering franchise opportunities that encourage them to get into the halal food industry and initiating food-business ventures.
Initially, Alf Yad will support Al Islami with the introduction of a business franchise for fast foods - the Al Islami Cart - a business franchise for fast foods primarily distributed in major Co-Op supermarkets, high traffic mall outlets as well as the Global Village and university campuses.
"Young entrepreneurs are the foundations of a sound economy; Al Islami's commitment to reinforce a healthy and safe marketplace is the cornerstone of the company's strategy and is in line with our vision, which seeks to build a strong and sustainable nation," Saleh Abdullah Lootah, chief executive officer of Al Islami Foods, commented.
"We are extremely pleased to collaborate with Al Islami Foods in this first entrepreneurial venture which fits all the Alf Yad criteria as a venture capital fund targeting young entrepreneurs," added chief executive officer of fund manager Daman Investments, Shehab Gargash.
"The Al Islami Cart project is a perfect first step for young business people seeking to start a self owned franchise."
Lootah emphasised the importance of involving young business talent in their efforts to promote the greater interests of society and consumers.
"In our drive to encourage the use of innovative business concepts, such as the Al Islami Cart, we are determined to inspire self-reliance in the young people of our community. We are pleased that Al Islami Foods and Alf Yad have taken the lead in spreading awareness among today's entrepreneurs about the chance to support a programme that is good for society as a whole and also offers lucrative returns on their investments."For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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