"We must plant the seeds today for future generations and prosper tomorrow"
His Highness Sheikh Mohammed bin Rashid Al Maktoum

AL-FUTTAIM INNOVATION CHALLENGES

AL-FUTTAIM INNOVATION CHALLENGES

ABOUT

Al-Futtaim

Established as a trading business over 85 years ago, Al-Futtaim has fostered its people-first approach to become a truly diverse customer-centric company that harnesses a solid heritage of entrepreneurship to always add value and improve the overall consumer experience. As one of the most progressive businesses based out of Dubai, Al-Futtaim is committed to enriching the lives of our customers by offering the world’s best brands along with world-class customer service and after-sales support.

Al-Futtaim offers services in the field of automotive, financial services, real estate and retail.

CHALLENGE 1

End-of-Season Markdown Modelling

Al-Futtaim’s Retail Division has a substantial footprint across the GCC and APAC regions; bringing to market some of the world’s best-known brands including Marks & Spencer, Robinsons Department Stores, Ted Baker and Kiabi.

At the end of a season or product life cycle, there may still be stock that has not been sold. At this point, Al-Futtaim’s retail businesses are required to sell-out stock in the most economical and efficient way. Al-Futtaim would like to explore innovative, smart and proactive markdown modelling tools that can optimize this activity across its retail businesses.

Application Deadline: 23rd Jan 2020, 11.59pm (GMT+4)

CHALLENGE 2

Innovative Buying Solutions

Al-Futtaim’s Retail Division has a substantial footprint across the GCC and APAC regions; bringing to market some of the world’s best-known brands including Marks & Spencer, Robinsons Department Stores, Ted Baker and Kiabi.

Historically, Al-Futtaim has purchased retail merchandise from our principle retailers by very standard methods.

Their buying team would like innovative, smart and proactive ways to predict accurate forecasts (based on order lead time windows) for our fashion lines. Points to consider:

  • Purchasing should take into varying account order lead time windows
  • Purchasing should consider regional preferences
  • Purchasing should be predictive as well as reactive in nature

Application Deadline: 23rd Jan 2020, 11.59pm (GMT+4)

CHALLENGE 3

Credit Scoring and Decision Making

Across Al-Futtaim’s different divisions and channels, there are a number of touch-points in a Customer Journey that may require a credit decision before progression to the next stage.

Al-Futtaim is looking for innovative ideas and solutions in our credit decision making to utilize:

  • Existing internal data sources
  • Potential external data sources to support credit decision for individual customers.

Examples of high potential data sets are: Automotive CRM data, Entertainer data, Social Media data, Utilities data etc. Ultimately, Al-Futtaim seeks to be quick and agile but also adherent to sound financial principles.

Application Deadline: 23rd Jan 2020, 11.59pm (GMT+4)

CHALLENGE 4

Automotive Insights to Support New Sales Deals

Al-Futtaim’s challenge is to source, mine and utilize automotive industry data linked to sales across all new car brands in the UAE in a creative and proactive way. This would entail the following:

Firstly, Al-Futtaim wants to automate the collection of relevant industry data across all automotive brands within the UAE. The aim would be to gather data and produce insights into vehicle inquiries and purchases.

Some examples would include

  • Make & model
  • The vehicle derivatives (grades such base, mid or full option),
  • Pricing and discounting
  • Consumer offers on the vehicle (e.g. price, insurance inclusion, servicing packages etc.)
  • Sales quantities
  • Sales channels e.g. retail, fleet and SME
  • Number of imports / exports

Secondly, leveraging the above data, Al-Futtaim would look at building a machine learning data model that can drive key insights for Al-Futtaim’s decision making and product portfolio optimization. Specifically, this would lead how Al-Futtaim optimize our tactical support (i.e. the optimum levers across each and every vehicle and customer offer) This is envisaged to be a key factor in shaping Al-Futtaim’s go-to-market strategy with regards to price, vehicle configuration, features and consumer offers.

Application Deadline: 23rd Jan 2020, 11.59pm (GMT+4)

PROGRAM FORMAT AND TIMELINE

The program aims to connect start-ups and scale-ups from all around the world to connect with Al-Futtaim to find suitable solutions for their challenges. The program is divided into 2 phases:

PHASE 1

Virtual Pitching Competition

PHASE 2

Pilot Project in Dubai

KEY DATES

08 JAN 2020

Webinar with Al Futtaim’s representative (optional)
2pm (GMT+4)

08

JAN

2020

Webinar with Al-Futtaim’s representative (optional)
2pm (GMT+4)

 

Join us for a webinar with Al-Futtaim’s and AREA 2071’s representatives to clarify any questions you might have about the required solutions or the program. The webinar will be conducted via Zoom.

Webinar Al Futtaim
Webinar Al Futtaim

12 JAN 2020

Application Deadline 11.59pm (GMT+4)

23

JAN

2020

Application Deadline 11.59pm (GMT+4)

 

30 JAN 2020

Virtual Pitching Competition

30

JAN

2020

Virtual Pitching Competition

 

Shortlisted applicants are invited to join the Virtual Pitching Competition with Al- Futtaim’s management. Each company will have 10 minutes to present their solution. The competition will be conducted via Zoom. Selected applicants will then be invited to the conduct a pilot project in Dubai.

END

OF FEB

2020

Starting end of February 2020: Pilot Project

END OF FEB 2020

Starting end of February 2020: Pilot Project

 

Selected applicants will be invited to Dubai to conduct a pilot project (1 to 3 months) with Al-Futtaim. Al-Futtaim will cover the travel and accommodation for up to 2 team-members per company. Furthermore, the companies will receive a fund of USD 10,000 to USD 15,000 to fund the pilot.*

At the end of the pilot project, Al-Futtaim may choose to select companies they wish to consider to continue with and enter a commercial partnership.

BENEFITS

Access to senior decision makers within Al-Futtaim

Paid travel and accommodation for up to 2 team-members per company for the 1 to 3 months pilot project.*

Seed funding of USD 10,000 to USD 15,000 for winners.*

Company licensing opportunity with AREA 2071.

Access to AREA 2071’s ecosystem of programs, events, activations.

Subsidized office space for the companies post program at AREA 2071.

Eligibility to apply for the UAE Entrepreneurship Visa exclusively with AREA 2071.

* The exact amount allocated as well as duration will be subject to the pilot chosen, the maturity of the proposed solution and the discretion of the Al-Futtaim management team.

For any further enquiry please contact us on: programs@dubaifutureaccelerators.com