Managing Director of startAD, and Vice Provost for Entrepreneurship at NYUAD Ramesh Jagannathan, said: “The retail landscape has shifted globally and consumer behaviour is aligning strongly with sustainability, green solutions and home-grown innovation. In two short years, the retail market in the GCC is estimated to grow to USD 308 Billion and Manassah presents a massive opportunity for innovators to lead this change. Manassah has demonstrated phenomenal gender inclusivity with over 70% of the concepts being founded by female entrepreneurs and 35% having an Emirati founder. These startups will redefine the future of retail and as startAD, we remain committed to driving this innovation from Abu Dhabi to the world."

The twelve finalists were selected from a shortlist of 16 traditional retail and retail tech start-ups, all of which provide concepts and solutions that are in demand within the retail space. The shortlist was made up of 14 nationalities, with 70% of their founders being female entrepreneurs. In addition to the 12 finalists, Aldar is also reviewing the remaining four start-ups to assess whether different iterations of the concepts could be taken further. These include Miva, El Botik, Tart Art and Ateliers Celine. Aldar is committed to fostering innovation, in line with the UAE’s National Innovation Strategy. The company has developed a framework to drive forward innovative practices, with focus on three strategic areas: corporate innovation, incubation programmes for startups in complimentary sectors, and investment in new tech-enabled businesses. The idea for Manassah was first submitted as part of Aldar’s Ibtikar challenge, an internal innovation programme which encourages employees to take an active role in Aldar’s future growth and direction.