The UAE has announced one of the first businesses to join its NextGenFDI initiative – Krush Brands, a full stack food technology, multi-kitchen food service company.
Krush Brands will relocate its global headquarters to the UAE with an aim to triple its growth by creating 700 jobs within two years, besides moving its technology arm to the country from Europe.
The announcement, by the Ministry of Economy, comes threeweeks after the launch of the global initiative in collaboration with seven strategic partners and representatives of key national entities in the UAE.
Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said Krush Brands joining the new initiative marked a big step forward in this direction.
“It is clear that the company sees the UAE as the perfect place for sustainable development and digital business expansion,” Al Zeyoudi said.
The minister said his ministry, along with other committed stakeholders, would enable Krush Brands’ business journey by offering various support measures, including introducing them to potential strategic partners across aviation, hospitality, real estate and retail.
The integrated efforts by the Ministry and other stakeholders will enhance value chains and help develop the digital business ecosystem throughout the country.
Ian Ohan, founder and CEO of Krush Brands, said: “This is a win-win for us and gives us the opportunity to build our technology company in a world class digital economy, right here in the UAE.”
“We are proud to be a founding member of the NextGenFDI program and contribute to the growth of the UAE digital economy,” Ohan said.
Krush Brands has championed economically sustainable delivery and is the only digitally enabled full-stack, fully integrated, omni-channel food and beverage company in the region, with its proprietary food technology offering various food and beverage brands.
Krush Brands recently launched Locale, an online marketplace for its local food brands.
Through the Locale app, diners can order directly from several leading local brands such as Freedom Pizza, Coco Yogo, Salad Jar, Wildflower, Viking Bageri and Alannah’s Pastry Boutique.
Al Zeyoudi said the ministry was committed to offering the necessary support to facilitate the setting up of technology startups in the UAE and look forward to welcoming more companies and stakeholders to the initiative in the near future.
The NextGenFDI initiative offers multiple incentives to digital companies, including faster business setup processes, banking readiness, simpler visa procedures and attractive commercial and residential real estate options.
The initiative also complements other UAE initiatives such as the National Program for Coders, which is offering golden visas to 100,000 coders.
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