IslamicFinance.de

Dubai Airport Freezone Authority (DAFZA) has partnered with Dubai Islamic Economy Development Centre and venture firm Technolera to launch a new start-up incubator. Goodforce Labs is launched to help Islamic small and medium enterprises to reach $50m in annual revenues and a measurable social impact. It will help start-ups to start, manage and develop their businesses while providing support in areas including design, marketing, operations management and technology. DAFZA said there are more than 2,500 companies in the ethical Islamic lifestyle market but many struggle to grow and survive. Start-ups that have signed up to the incubator so far include handicraft e-commerce platform Growmada, cloud-based charitable endowment manager Waqf 2.0, disciplined entertainment product specialist Zileej and modest women’s clothing firm Rabia Z. Financial literary firm iWealth and halal food e-learning platform Smart Halal are among the other entrants.