UAE’s renowned entrepreneurial development organization Khalifa Fund for Enterprise Development (Khalifa Fund) has launched ‘AI Mentor’ in partnership with the Abu Dhabi-venture capital and private equity company, StartAD to promote the development of comprehensive business plans.
AI Mentor is a groundbreaking platform that provides a wide range of digital tools and resources for entrepreneurs during the business planning process. The digital platform will guide entrepreneurs through the process required to submit a business plan for funding, as well as receive mentorship and training as a Khalifa Fund applicant.
Through its digital features, AI Mentor will also create the opportunity to speed up the planning process phase, helping a large number of applicants in real-time and enhancing the overall quality of business proposals. The platform is currently open to applicants of the Khalifa Fund but will be accessible to the public at a later point.
AI Mentor will offer an effective business template to the potential candidates. Furthermore, it will also act as a tool to aid users to achieve access to market information, research, reports, how-to-videos, articles, and direct feedback from expert business counselors.
The digital platform will also feature a fully automated AI chat-bot for users that require instant feedback, and enable entrepreneurs to communicate instantly through digital communication with Khalifa Fund business advisors.
“Khalifa Fund is extremely excited to launch the AI Mentor, an innovative and resourceful tool for the benefit of entrepreneurs looking to develop comprehensive business plans, develop their projects and expand their business to improve their competitiveness in the sector. The AI Mentor has been developed in collaboration with StartAD in adherence to international best practices, which will provide entrepreneurs with easy access to knowledge-based resources whilst simultaneously allowing SMEs to increase their efficiencies; this, in turn, will result in the quick turnaround of new start-ups throughout the UAE.”
Ramesh Jagannathan, Vice Provost for Entrepreneurship at NYUAD, and Managing Director of startAD said, “The AI Mentor project is a critical building block in the transformation of Abu Dhabi’s knowledge economy. It brings the power of the latest digital technologies in the field of Artificial Intelligence and Machine Learning to the Abu Dhabi SME community, the backbone of any agile and dominant global economy.
“What makes AI Mentor extremely powerful is that the AI and deep-learning technology synthesize a vast amount of highly useful data curated by Khalifa Fund including market research reports, regulations, industry updates, and more from various Abu Dhabi government entities over the last decade. Functional in English and Arabic, it ensures that each entrepreneur is equipped with extremely personalized support by stage, industry, technology, and more to build the most effective business plan for their venture,” concluded Mr. Ramesh.