Friendycar, a Dubai-based online marketplace for borrowing and lending has taken top honours at the Dubai Silicon Oasis Authority Entrepreneur Day competition.
Abdelrahman Elgamal, founder of Friendycar, walked away with a prize worth over AED125, 000 - including AED36, 000 in cash, company setup within Dtec, the use of the all-new Volkswagen Arteon for one year – courtesy of Volkswagen, as well as a free service license, and financial advisory sessions with The Scalable CFO – a team of finance professionals who cater to the financial management needs of emerging businesses.
Friendycar, as well as five other shortlisted applicants, presented their business plans to a live audience and judging panel as part of the startup pitch competition. The Entrepreneur Day event was organised by Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), at its Dubai Technology Entrepreneur Centre (Dtec) technology hub.
Commenting on the event, Dr Mohammed Al Zarooni, Vice Chairman and CEO, said: “As a technology-focused free zone, we are committed to supporting the development and expansion of the SME segment in the UAE that currently accounts for 86 percent of the total private sector workforce in the country. In line with our dedication to playing an integral part in achieving the goals of the National Agenda of the UAE Vision 2021, we seek to assist SMEs in increasing their contributions to the country’s GDP with the ultimate objective of driving the diversification and growth of the national economy.”
Entrepreneur Day 2017 drew the participation of over 400 attendees and 80 exhibiting startups. Headline speakers included Walid Mansour, partner and chief investment officer at venture capital firm Middle East Venture Partners, Nina Zandnia, Dubai-based fashion entrepreneur and TV personality, Sirish Kumar, co-founder and CEO of online payment gateway Telr, Promoth Manghat, CEO of UAE Exchange, and Haytham ElMaayergi, global head of transaction banking at Abu Dhabi Islamic Bank.