DMCC — the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and entreprise - has announced it joined the 2021 edition of the “C3 Social Impact Accelerator Programme”, powered by HSBC, as a partner and will provide the winner with a two-year business licence.

The C3 programme, now in its third year, has already confirmed the 42 participants to make the 2021 semi-finals. The successful participants have undergone a three-week learning journey where they will be trained by experts on various business growth pillars to accelerate their startup and amplify their social impact.

They also had the opportunity to engage with C3 alumni and senior business experts from HSBC, DMCC, Bain & Company and Al Tamimi & Company during the opening ceremony.

Feryal Ahmadi, Chief Operating Officer of DMCC, said, “We are thrilled to be partnering with C3 to support enthusiastic, talented and innovative entrepreneurs. One of the key elements to consider when setting up and growing a business is being in the right ecosystem and being connected to global networks - both of which DMCC provides to its members. This is why 18,000 companies have chosen DMCC as their place to do business - and this network will undoubtedly prove very useful to the accelerator’s next winner. “As a responsible organisation, committed to the UN Global Compact, we are always looking for ways to make a positive impact and contribution in everything that we do, including the partnerships we embark on. We look forward to welcoming another company that strives to advance the Sustainable Development Goals.”

The learning journey has been designed in collaboration with C3’s learning partners, Italy-based Business Performance Institute (BPI), UK-based Yonder Data Solutions and Finland-based Claned, to create a bespoke learning experience for the entrepreneurs.

“We are really excited about the commencement of this year’s programme and believe that the entrepreneurs who are creating a positive impact in the world will benefit from it, as it has been designed to take them through a very unique blended learning experience that will accelerate their business growth and amplify their impact”, said Medea Nocentini, the co-founder of C3.

Shortlisted from a pool of 1,000 applicants, the 42 semi-finalists come from Algeria, Bahrain, Egypt, Kuwait, Oman, Saudi Arabia, Turkey, and the UAE, and all address UN Sustainable Development Goals.

The next stage of the programme involves selecting 20 finalists to continue their learning journey, connect with impact investors and compete for the final prize. The top three finalists will receive equity-free cash prizes - courtesy of HSBC - in addition to pro bono consulting support from C3’s programme supporters, Bain & Company and Al Tamimi & Company with a total estimated prize value of US$750,000.

The winner of the final competition, which will be held in July, will also be offered the opportunity to join a network of 18,000 companies by obtaining a two-year business licence from DMCC, which will provide them the opportunity to expand their business and interact with the entrepreneur community in Dubai.

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future.

C3 - Companies Creating Change is a UAE-based social enterprise set up to help unlock the potential of social ventures in the MENAT region and maximize their impact on the community. Awarded as the first international Social Enterprise Mark - the UK certification authority and the only international certification for social enterprises - C3 match experienced business professionals to share their knowledge with social enterprises taking into consideration skills, interests and availability. C3 has also been recognized as a United Nations Sustainable Development Goals (SDGs) pioneer for outstanding contribution to Goal number 17 “Partnerships for the Goals”.

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates.

In Saudi Arabia, HSBC is a 31 per cent shareholder of Saudi British Bank (SABB), and a 51 per cent shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of $68.9 billion as at Dec.31, 2020.