HCT plans fund to help nationals set up small units

ABU DHABI - The Advisory Committee meeting of the Intilaaqah Programme yesterday decided to set up a special fund to facilitate the establishment of small businesses by its first batch of graduates, who are undergoing training at the Higher Colleges of Technology.

By Anupama V. Chand

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Published: Tue 6 May 2003, 1:06 PM

Last updated: Wed 1 Apr 2015, 10:59 PM

The Committee, which met to discuss the progress of the programme, said that there was a need to develop a capital fund to ensure its sustainability.

Also from Sept. 2003, the project will run in the two HCT colleges of Abu Dhabi and Al Ain. Some 30 students, 15 each from the Abu Dhabi Men's College and the Abu Dhabi Women's College, are undergoing a training session under the programme, which is a Shell-funded initiative that attempts to encourage young nationals to consider the option of starting their own business, and providing assistance to those who wish to take that option. Intilaaqah Abu Dhabi will offer training in all aspects of setting up and running a small business, with the HCT undertaking the training in English, and the Abu Dhabi Chamber of Commerce and Industry (ADCCI) offering programmes in Arabic.

The programme is being developed as a partnership initiative by HCT, ADCCI, Ernst & Young, Shell and the National Bank of Abu Dhabi.

Discussing the possibility of a development fund to meet the initial capital requirements, members suggested inviting corporate suppport from the trading, financial and banking industries to give Abu Dhabi based entrepreneurship a permanent base.

A budget of Dh600,000 to Dh800,000 has been allocated for the programme during the present year by Shell to achieve the start-up objectives, with the other four partners contributing in kind.

Concerning its plans for 2003, the ADCCI Director-General, Mohammed Omar Abdullah said that the first Arabic training sessions at the Chamber would commence in mid-June, with the second slated for mid-September.



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