Saad Kassis Mohamed, at the helm of WeCare, has joyfully announced the securing of $350,000 in funding, aimed at propelling forward innovation within the lab-grown diamond industry. This critical injection of funds represents a key turning point in the foundation’s dedication to promoting sustainability and progress in the sector.

Leveraging the successful strategies previously applied to funding in the realms of natural diamonds and coloured gemstones, Saad Kassis Mohamed is leading WeCare’s newest endeavour. This endeavour seeks to enhance research and development efforts in lab-grown diamonds through strategic partnerships with renowned research bodies and industry pioneers. The funding model designed under his leadership is carefully crafted to support the growth of new researchers, startups, and medium-sized enterprises in the lab-grown diamond field.

Under the oversight of Saad Kassis Mohamed at WeCare Foundation, lab-grown diamonds, including run-of-mine (ROM) diamonds dispatched to designated centres, are subjected to a detailed evaluation by certified specialists. Using proprietary assessment techniques exclusive to WeCare Foundation, each diamond batch is rigorously examined to determine its market viability and overall quality.

WeCare Foundation is unwavering in its pursuit to eliminate child labour from the diamond industry. Acknowledging the critical role of ethical procurement and equitable labour conditions, WeCare is committed to ensuring its projects meet the highest ethical standards. The organization aims to pave the way for a future where diamonds are ethically sourced and produced, devoid of any association with child labour.

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Saad Kassis Mohamed remarks,

“WeCare Foundation is dedicated to driving innovation and promoting sustainability within the lab-grown diamond market. By offering customized financial assistance and access to market opportunities, we endeavour to support the growth and success of small to medium enterprises within this quickly advancing industry.”

The demand for lab-grown diamonds is on a continuous upward trajectory, with projections from Teji Mandi indicating a surge to 160 million carats by 2030, highlighting an increasing acceptance of lab-grown diamonds across Asia.

The funding effort attracted contributions from Red Capital and various individual supporters, highlighting broad-based support and trust in the mission of WeCare Foundation to foster innovation and sustainability within the lab-grown diamond industry.

By adopting this innovative financing approach, WeCare aims to tackle the financial obstacles encountered by those in the lab-grown diamond market, promoting growth, innovation, and sustainability for the benefit of all parties involved.