Today's Edition
DUBAI (ALETIHAD)
The Ministry of Economy and Tourism outlined details of ‘The UAE: The Startup Capital of the World’ national campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen the UAE’s position as a leading global destination for entrepreneurship.
The campaign is overseen by the Ministry of Economy and Tourism in collaboration with the UAE Government Media Office, with the participation of the UAE Council for Entrepreneurship and over 50 government and private entities, business incubators and accelerators, and academic institutions.
At a press conference attended by members of the UAE Council for Entrepreneurship, His Excellency Abdulla Bin Touq Al Marri, Minister of Economy and Tourism, highlighted the UAE’s commitment to solidifying its standing as a global entrepreneurship destination through policies that support businesses and economic practices, and proactive government initiatives.
His Excellency Al Marri stressed that the campaign represents a comprehensive national vision to build a globally competitive economy driven by innovation, youth empowerment, and entrepreneurship. It is supported by practical programmes and initiatives, underpinned by robust data and indicators that position the UAE as a global destination for talent, investors, and entrepreneurs.
His Excellency Al Marri said: “‘The UAE: The Startup Capital of the World’ national campaign reflects the UAE leadership’s vision to establish the nation as the premier destination for global talent, innovators and entrepreneurs. It is a strategic step toward solidifying the UAE’s position as a global hub for entrepreneurship.”
Al Marri affirmed that startups and entrepreneurs constitute a fundamental pillar in the UAE’s economic growth journey, noting that the country aims to increase the number of companies to more than two million by 2031.
UAE leadership of global entrepreneurship
His Excellency Al Marri pointed out that the UAE has secured the top position in the 2024-2025 Global Entrepreneurship Monitor (GEM) report for the 4th year running.
The UAE also ranked first in 11 out of 13 indicators for high-income countries, and was named the best destination for entrepreneurship and SMEs among 56 evaluated economies.
As part of the ‘Projects of the 50’ initiative, the UAE announced investments worth Dh8.7 billion aimed at promoting innovation and supporting SMEs.
The UAE is home to over 50 government and private business incubators and accelerators, His Excellency Al Marri noted.
He also pointed out that SMEs, which make up around 95% of the UAE’s active businesses, have contributed 63.5% of its non-oil GDP as of mid-2022, and that out of the 7 Arab companies recently gaining ‘Unicorn’ status, 5 have launched in the UAE.
The UAE’s entrepreneurial ecosystem blends innovation, modern technology and sustainability, making it an ideal launchpad for global entrepreneurs. The UAE offers a comprehensive legislative and regulatory framework that helps fast-track business setup within days, thanks to smart digital services.
The 100% foreign ownership of companies across most sectors, as well as the nation’s world-class infrastructure, including ports, international airports and an advanced roads network, further enhance the UAE market’s attractiveness.
At the press conference, the Ministry of Economy and Tourism outlined key initiatives under the ‘UAE: The Startup Capital of the World’ campaign, which include the launch of the StartupEmirates.ae platform, which aims to attract 10,000 entrepreneurs and create 30,000 jobs within five years.
The campaign will also train 10,000 Emiratis through the Entrepreneurship Programme, and license 500 Emiratis to manage residential construction projects under the Project Management Experts Programme.
Other initiatives include supporting 250 Emiratis in establishing national real estate companies, licensing 500 Emirati tax agents through a three-year training programme, and launching a national exhibition to raise early-stage entrepreneurship awareness across educational institutions.
Additionally, the campaign will see the launch of a Graduate Business Projects Exhibition, and improve national startups involvement in and access to federal procurement systems under the umbrella of the Ministry of Finance.
Strengthening the entrepreneurship ecosystem
The UAE Council for Entrepreneurship held a meeting chaired by His Excellency Abdulla bin Touq Al Marri,Minister of Economy and Tourism. The meeting discussed strengthening the UAE's entrepreneurial ecosystem, supporting SME growth, and empowering citizens to create new businesses.
The meeting stressed the importance of coordinating federal and local entities with financial institutions to empower youth through training and development, and highlighted the need for government and institutional support for entrepreneurs in government procurement.
The meeting reviewed "The UAE: The Startup Capital of the World" campaign, which aims to attract and train entrepreneurs in five years, providing infrastructure, boosting their contribution to non-oil GDP, and empowering Emirati youth to launch globally competitive projects.
Finally, the meeting addressed enhancing national economic competitiveness by supporting SMEs and fostering public-private-academic partnerships to bolster regional and global entrepreneurship, cultivating the next generation of entrepreneurs through training, support, funding, and legislative empowerment.
The meeting was attended by members of the UAE Council for Entrepreneurship.
