Axeed Labs to offer tech start-ups and SME’s in the UAE a lifeline
Dubai based company announced the availability of one million dirhams (approximately US$272,249) for applicants who meet the criteria to use to get them through these really tough economic times. It coincides with Ramadan, the month where we like to give back.
Axeed labs, the UAE based mobile application and software development firm, announces the launch of its SME and Start-up Tech Launchpad campaign. The activation comes as a response to the global, COVID-19, economic crisis and ahead of Ramadan 2020. This campaign creates an opportunity for UAE Start-ups and SMEs to continue their technology development, with a Dh1m credit line and enables Axeed labs to support to the business community.
The SME sector represents more than 94 per cent of the total number of companies operating in the UAE and provides jobs for more than 86 per cent of the private sector’s workforce. In Dubai alone, SMEs employ 42 per cent of the workforce and contribute around 40 per cent to Dubai’s GDP. The UAE Government has an ambition to enhance the contribution and performance of the SME sector and Axeed labs is taking this opportunity to follow suit.
With Ramadan just weeks away the instruction for Muslims across the world to help each other couldn’t come any sooner. For Muslims, whose holiest sites in Mecca and Medina have been also closed due to the outbreak, the approaching Ramadan could be a time of relief for believers as it urges compassion and caring for one another.
Chintan Sareen, CEO at Axeed labs said: “We are really excited to see who we can help in the tech space at a time when it’s truly needed. Axeed labs has a track record of designing and developing state of the art mobile and web-based applications using the most novel technologies for industries including; last mile delivery, logistics, healthcare, pet care, e-commerce, fashion, vehicle leasing, facility management, payment wallets, food and beverage and grocery delivery, so we are very confident we can support any requirements that come in.
“We’ve all been start-ups at some point in time and this is usually where you find the hidden gems when it comes to ideas and evolution. We want to hear from as many start-ups and SME’s as possible and encourage all who feel they could benefit from development support, investment or big company ideas, to contact us and tell us what is needed.”
The campaign will take place entirely online, using Axeed labs landing page: http://axeedlabs.com/sme2020/ . SME’s and start-ups can submit key points of information and successful applicants will be contacted to go to the next stage of the process.
Here’s what you’ll need to apply:
- You have a B2B or B2C tech product
- Your product requires imminent development or maintenance
- You have been in business for at least six months
All applicants can apply for credit lines of up to Dh1m with flexible payment plans, allowing companies to remain mobile, versatile and move forward during these challenging times. In addition, Axeed labs has opened its doors to investment opportunities, enabling tech start-ups to retain their pace of development.