Aramex, a leading global provider of comprehensive logistics and transportation solutions, and Mastercard, a global technology company in the payments industry, have entered into a partnership to launch the inaugural edition of a platform called ‘ScaleUp’.
The new platform is designed to support the UAE’s startup and small and medium enterprise (SME) community. The initiative builds on the companies’ efforts to empower SMEs and entrepreneurs. Mastercard has committed to bringing 50 million SMEs into the digital economy by 2025.
Through this initiative, the industry leaders further extend their support to fuel the UAE’s SME sector. ScaleUp supports the UAE’s ambition to become home to 20 unicorns by 2031, with SMEs already representing 94 percent of companies and institutions operating in the country and contributing more than 50 percent to its GDP.
Commenting on the initiative, Mr. Tarek Abu Yaghi, General Manager of Aramex in the UAE, said that, “We are thrilled to launch the inaugural edition of ScaleUp – a unique initiative and competition that seeks to transform the future of industries and economies in the region through startup-led innovation. As a startup born out of the region’s entrepreneurial ambitions several decades ago, we fully understand the unique challenges SMEs will likely encounter on their path to success.”
“The UAE’s SME sector is pivotal in driving the region’s economic growth. It is our privilege at Aramex to offer the incredible growth opportunity and competitive advantage that the ScaleUp platform brings to the vast and talented pool of SMEs in the UAE, building on our illustrious history of nurturing the region’s startup scene,” Mr. Yaghi added.
Ms. Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East & Africa (EEMEA), at Mastercard, noted that, “Joining forces with Aramex was a natural choice for us given our shared goal of promoting entrepreneurship and supporting the growth of startups in the UAE. At Mastercard, we believe that empowering small businesses is key for an economy to survive and thrive.”
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