Sixteen unique small and medium sized businesses (SMEs) were celebrated for their contribution to today’s challenging regional economy at the 9^th edition of the Gulf Capital SME Awards held on 9 December.

A further seven businesses received the highly commended status across categories including Startup Business of the Year, Emirati Business of the Year and Digital Business of the Year.  

Striving to celebrate the very best businesses and entrepreneurs from the region, the 2020 Gulf Capital SME awards saw over 300 applications across 17 unique categories.

The winner of MasterCard Technology Startup of the Year, BankOnUs, allows UAE residents to compare insurance policies, credit cards, loans, and bank accounts all in one place. The independent panel of judges applauded the startup’s ability to manage consumer pain points by customising information through a bespoke mobile application.

Linen Obsession Textile Trading, winner of the coveted Gulf Capital Business of the Year award, was recognised for its democratic leadership approach that focuses on empowerment, training and equal opportunity for team members. The judges lauded the business for its innovative work, ability to pivot successfully, identifying and plugging gaps, fostering teamwork and incredible customer focus. The business also won the B2B Small Business of the Year award.

Commenting on the accolades, Karim el-Solh, CEO of Gulf Capital, says: “We are now in our ninth year of supporting SMEs and celebrating their achievements at the Gulf Capital SME Awards. This year, businesses of all sizes were challenged amid the global health crisis.

"However, we are seeing SMEs navigate through the new normal by innovating and adapting their business models to survive and prosper in today’s environment. The calibre of entries that we received for this year’s awards is impressive and the strong growth and traction of these SMEs is a testament to their resilience and innovation.

"I would like to congratulate all the businesses that have been awarded, and I am confident that they will fuel the recovery and progress of the region by continuing to champion growth and innovation," he says.

“While many companies have found it tough going in 2020, few have faced greater challenges than those operating in the SME sector," says MEED editorial director Richard Thompson. “Small businesses are the lifeblood of any economy and the Gulf Capital SME Awards celebrate the resilience and the drive of entrepreneurs and small companies. This year, more than ever, we are delighted to celebrate the best achievements of small and medium-sized businesses in the UAE, who are vital to the long-term success of the region.”

As part of this year’s awards, Gulf Capital and MEED launched a multi-channel programme of activity to provide SMEs with the information, intelligence and support needed to make efficient business decisions and adapt corporate strategies to achieve success following Covid-19.

The calibre of entries that we received for this year’s awards is impressive and the strong growth and traction of these SMEs is a testament to their resilience and innovation.

- Karim el-Solh, CEO, Gulf Capital

The Gulf Capital SME Insights LIVE bi-monthly webinars - which started in July and saw over 800 users tune in during a two-month period - discussed topics such as technology, finance, legal, and communications strategies, featuring a panel of industry leaders - including Oracle, IBM, SAP, The Fund – Dubai SME, DTEC, Hub71, startAD, and in5.

The webinars addressed the key challenges faced by SMEs in the region and allowed for additional dialogue between participants and individual panellists for further insight and awareness through a virtual roundtable.

The complete list of winners include:

Business Innovation of the Year: EVOTEQ

Judges praised EVOTEQ’s broad approach to leadership and management style and structure; as well as their comprehensive growth plan and key milestones over the next 3- 5 years.

Disruption of the Year: Lock&Stock

Judges found that LOCK&STOCK showcased a very clear, unique and well- targeted disruption, including a growth plan which highlighted their development partners and projects pipeline.

Micro Business of the Year: Fruitful Day

In a world that is gravitating towards healthy eating, Fruitful day’s increased product line, inclusive leadership style, business model and flexible working environment is guaranteed to lead them to success.

Customer Focus of the Year: Belly Baby Mom

The judges were impressed by the entrant’s expansion plans that included pro bono work, training opportunities and the creation of a collective; and commended the company’s crisis management including the pivot made to combat the Covid-19 crisis.

Mastercard Technology Startup of the Year: BankOnUs

Judges applauded the company’s ability to manage consumer pain points by customising information through a bespoke mobile application as well as the level of experience that is being brought to the startup by the core leadership team.

Startup Business of the Year: IQ fulfillment

Judges strongly felt that IQ Fulfillment boasted exceptional execution in a very hot space and was a standout winner characterised by well outlined benefits and integration of world class solutions.

New Entrepreneur of the Year: Melda Akin / D14.ai

Judges were impressed by Melda’s high ownership protocols internally, acknowledged that she led by example and created high engagement opportunities for her staff. Judges commended D14.ai’s/Melda’s expansion plans including her being the first woman in the world to organise AI training in Saudi Arabia.

CSR Programme of the Year: The Happy Box

The Happy Box has a clear strategic plan, a great adaptation in current times to digital transformation and integration of technology to evolve their business model. According to the judges, the strong balance of profit and purpose makes this business model a viable and sustainable one.

Sustainable Business of the Year: ONE MOTO - Electric Vehicles

Judges found ONE MOTO to be an incredible concept having a real environmental impact with a focus on saving costs to the environment, operator and government. Judges commended their vision to become the leading provider of sustainable, commercial EV’s in the region as well as saving the environment from 16,560 tonnes of CO2 per year.

Entrepreneur of the Year: Karen Remo, New Perspective Media Group

Judges praised Karen’s ability to make her existing team members critical to the success of her company as well as her ability to pivot to overcome challenges she faced. Judges were impressed by her expansion plans as well as strong EBITDA.

Emirati Business of the Year: Bait Al Kandora

Judges were impressed with Bait Al Kandoora’s branding, marketing and well-articulated leadership strategies; and praised their strong business model, digital adoption as well as clearly outlined growth plans and policies.

Gulf Capital Business of the Year: Linen Obsession Textile Trading LLC

Judges commended the company’s democratic leadership approach that focused on empowerment, training and equal opportunity for the team and were additionally impressed with the measures put in place to overcome cash flow challenges through expert contract negotiations. The judges lauded the company for its innovative work, ability to pivot successfully, identifying and plugging gaps, fostering teamwork and incredible customer focus.

People and Culture of the Year: The Hanging House

Judges found The Hanging House to have a holistic leadership style which aims to develop and support employees through a broad range of policies, initiatives and activities, including a flexible work environment, trainings, customised job design, personal growth plans and rewards.

B2B Small Business of the Year:  Linen Obsession Textile Trading LLC

Judges believed the company to be cleverly positioned having successfully worked its way to appeal to the big local retail customer, wholesale customer as well as stand-alone stores alike and found the company’s growth as well as turnover tremendous and well-articulated.

B2C Small Business of the Year: QidZ

Judges found QidZ scalable and praised their expansion plans into other countries with low operational expenses. They lauded both, the company’s integration of a return to work strategy for mothers as well as giving back policies.

Business Leader of the Year: Atheeqe Ansari, Electricway

Judges praised Atheqee’s core vision of sustainable growth and lauded his focus to reinvest profits back into the business. They were impressed with his diverse client base, high staff retention and processes followed by the company.

Digital Business of the Year: ArtSmiley

Judges found Artsmiley innovative and believed that it addressed a true pain point for art acquirers globally. The company has an additional focus on digital means, which enables one to understand the artists outreach on a global platform.