Baladna Syria and Growfast Sign Memorandum of Understanding to Support Entrepreneurship and Innovation

 

Baladna Food Industries LLC – Syria (“Baladna Syria”), a subsidiary of Baladna Q.P.S.C., signed a memorandum of understanding (MoU) with GrowFast for Investment and Entrepreneurship. The MoU establishes a general framework for cooperation to support entrepreneurship and innovation and help startups and other promising ventures grow. The parent company is a leading food producer and a pillar of food security in Qatar.

Ahmad Al Husseini, Chief Operating Officer of Baladna Syria, and Mohammad Al-Badarneh, Deputy Chief Executive Officer of GrowFast, signed the MoU at the Royal Semiramis Hotel in Damascus. Dr. Kamel Abdallah, Chief Executive Officer of Baladna Syria, Marwan Dimas, Executive Director of Power International Holding Syria, and Malek Ajaj, Investment Director of GrowFast, witnessed the signing. Senior executives from both companies also attended.

Under the MoU, the parties aim to coordinate their efforts and draw on their expertise and resources to support entrepreneurship and innovation. They intend to develop joint programmes and initiatives to identify promising ventures, support their growth, help eligible ventures access development, financing and investment opportunities, and strengthen ties with organisations that support entrepreneurs. The parties will agree on the details, implementation arrangements and requirements for these programmes and initiatives in subsequent agreements or implementation annexes.

The signing ceremony also recognised the winning ventures from the previous season of “Nassaj Al Mustaqbal”, a competition for entrepreneurs in the textile industry.

The parties also announced the launch of the “Entrepreneurship Acceleration and Empowerment Programme in Agricultural and Food Technologies”. The programme will help entrepreneurs, as well as students, graduates and researchers at Syrian universities, turn their ideas and research into practical solutions and ventures with the potential to grow. As part of this cooperation, Baladna also announced a competition for startups in agriculture and agricultural technology. The results and awards are due to be announced in May 2027. Support includes training at Syrian universities, mentoring and technical advice to help participants develop prototypes and assess their feasibility in areas such as smart farming, water management, crop and livestock production, and agricultural supply chains. The cooperation aims to draw on Baladna’s expertise in agriculture and food production and GrowFast’s experience in entrepreneurship training and business acceleration. GrowFast will coordinate implementation with Baladna under arrangements to be agreed by both parties.

Dr. Kamel Abdallah, Chief Executive Officer of Baladna Syria, said, “We believe Syrian talent is a cornerstone of economic recovery. Alongside their commercial objectives, our investments in Syria carry a social responsibility towards a country whose potential we believe in. Through this initiative, we help entrepreneurs turn their ideas into productive businesses that can grow. Our support begins with cash awards and extends to helping entrepreneurs develop their capabilities and make their products more competitive. This is part of our broader vision to strengthen food security, create sustainable jobs and develop an agricultural and industrial sector in which Syrian farmers and entrepreneurs are active partners in growth.”

Mr. Mohammad Al-Badarneh, Deputy CEO of GrowFast, added: “Working with Baladna will help us connect young people’s ideas and university research with the needs of the agricultural sector. Through training, mentoring and specialist guidance, we aim to help participants test their ideas, develop viable solutions and build business models capable of succeeding in the market.”

This cooperation forms part of Baladna’s activities in Syria, which include developing a farm and a dairy processing facility with the aim of bringing its products to the Syrian market in 2028. Baladna is also working with the International Finance Corporation to assess the dairy sector and support the development of its value chain with the participation of small-scale livestock producers and farmers.

Beyond the dairy sector, Baladna is exploring a portfolio of major agricultural and industrial projects spanning cotton and textiles, sugar beet and sugar production, strategic crops, and citrus. These projects would adopt a contract farming model that connects Syrian farmers directly to markets and secures a stable income for them. They are expected to create approximately 50,000 direct and indirect jobs. Baladna is also committed to bringing the latest agricultural and industrial technologies to Syria and attracting specialist international partners to enhance productivity and improve supply chain efficiency.

GrowFast is an investment and entrepreneurship platform that works to develop industrial and productive sectors through its entrepreneurship initiative “Syria Up” and programmes that offer investment, business acceleration, training and connections to investment opportunities. GrowFast uses specialist methods to design and run entrepreneurship support programmes and draws on a network of experts, mentors and service providers. Its portfolio includes more than 14 industrial projects and more than 30 strategic partners.