Reinforcing its market leadership across the Middle East, Intercoil International – the Dubai-based sleep products multinational – today announced that it has been ranked number 4th among the Dubai 100 SME rankings. The Dubai SME 100 initiative was launched on March 14 last year by H.E. Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Economic Sector Committee in Dubai, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates Airline and Group.
The ranking award aims to identify the best performing Small and Medium-sized Enterprises, honor the SMEs for their innovation, and recognize them for their contribution to the economic landscape in the Emirate.
The Dubai SME 100 awards were handed over at a special ceremony held at Dubai World Trade Centre on Sunday [February 12]. H.E. Shaikh Ahmad Bin Saeed Al Maktoum presented the award to Mr. Hassan A Hazeem, CEO of Intercoil International.
In all, 1092 SMEs registered for the initiative, out of which 196 SMEs were shortlisted for the Stage II of the evaluation process. From these, the Top 100 SMEs were selected and ranked based on several selection criteria.
The Dubai SME Initiative was launched by Mohammad Bin Rashid Establishment for Young Business Leaders (SME), an agency of Department of Economic Development in Dubai (DED). Intercoil was ranked the 4th best in Innovation, and ranked 7th in both Human Capital Development and Global Orientation [Exports].
The company’s nomination stems from its aggressive growth strategy aimed at becoming the market leader in orthopedic sleep systems across the Middle East. The company achieved this by developing a growth roadmap that could easily adapt to ever-changing market conditions in the region.
Talking about the awards, Mr. Hassan A Hazeem, CEO of Intercoil International, said, “The Dubai SME 100 award to Intercoil International is indeed a great honour for us. This recognition is a result of our long-term planning, which is aligned with the set direction of the organization – our mission, vision, purpose and values, which addresses the needs and expectations of all stakeholders. Our sound management practices since our inception, complemented by the loyalty of its employees and business partners, have enabled Intercoil to achieve our objectives. The company plans to grow further by continually developing its business procedures, expanding geographically and forward integration.”
He added: “Our strong growth and achievements over the last 38 years has seen us continually adapt to the needs of the market and unveiling innovative products and services. We feel extremely privileged to be among the best in the business as we strive to introduce world-class sleep products backed by customized service standards in the GCC and beyond.”
Over the years, Intercoil has been successful in strengthening its market position, market share, and leadership role in the sleep products’ industry with increased brand awareness and aggressive marketing campaigns. The company has grown steadily with its commitment to provide customers with an unmatched experience, backed by the superior quality of its products and services.
Dubai SME 100 initiative is a premier ranking of top-performing small and medium enterprises by the Mohammed Bin Rashid Establishment for SME Development. The initiative seeks to identify fast-growing SMEs which are superior in quality and role models in the nation, and enable enterprises which can be sustainable and globally-oriented. The initiative acts as a platform and vehicle to identify promising businesses.
The objective of Dubai SME 100 is to inspire willing and able ambitious SMEs that have the potential to be world-class enterprises, to invest in innovation and people to sustain growth. The ranking celebrates top performing SMEs in Dubai and operates to help companies identify capability gaps for improvement and attract the attention of potential investors.
The SME sector in Dubai is a major driver of the economy, accounting for 95 percent of enterprises and 40 percent of the workforce in the emirate. Of the 100 ranked SMEs, 62 per cent are from the services sector, 13 per cent are from manufacturing while 25 per cent belong to the trading sector. The combined turnover of the top 100 SMEs based on their latest financial records is estimated at AED2.3 billion, with a combined profit of AED220 million.