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.

 Al-Futtaim will adhere to the following process for this Challenge submission:

1. The challenge is published. If you questions please direct them to the Dubai Future Foundation.
2. Before submission, a webinar to elaborate on the challenge will be run and broadcast January 8th.  This will allow applicants to tailor their submissions.
3. Applications will be open until the 23rd of January 2020, 11.59pm (GMT+4). 
4. Shortlisted applications will be chosen to attend a 10-minute pitching session to Senior Al-Futtaim leadership.  If internationally based, the pitch will be digitally streamed.  If the Startup is local to the UAE, it will be hosted at Al-Futtaim’s dedicated Innovation HUB.
5. If a solution meets the criteria and is favourable to the Al-Futtaim management team, it may be chosen to be bought to life via a Pilot.

The winning application will be provided between $10,000 – $15,000 to fund the pilot.  Additionally, flights and accommodation for up to 2 people between 1 and 3 months will be provided.  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.