UAE startup drive aims to attract 10,000 entrepreneurs in 5 years
INDUSTRIAL NEWS
The UAE has launched a new campaign which aims to attract 10,000 entrepreneurs and create 30,000 jobs within the next five years.
Launching ‘The Emirates: The Startup Capital of the World’ campaign, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai,said it seeks to provide comprehensive support to Emirati youth, enabling them to benefit from the UAE’s unique economic environment through an integrated ecosystem of initiatives, platforms, and specialised programmes designed to foster innovation, accelerate growth, and diversify the national economy.
HH Sheikh Mohammed bin Rashid said: “Today, the Cabinet launched the new national campaign “The Emirates: The Startup Capital of the World.” The campaign brings together more than 50 entities from both the public and private sectors, with the aim of training and nurturing 10,000 Emirati entrepreneurs, creating thousands of economic opportunities, and raising community awareness on the importance of leveraging the economic momentum the country is witnessing. A series of initiatives will be introduced, with a call for all institutions to actively participate in this campaign and support its objectives.
He added: “The UAE is currently home to 50 business incubators spread across the country. Small and medium-sized enterprises form the backbone of the national economy, contributing more than 63% of the non-oil GDP. The UAE also leads among 56 global economies in supporting SMEs and in providing the best possible environment for their growth and success."
The campaign will launch the StartupEmirates.ae platform and train 10,000 Emiratis through the Entrepreneurship Programme, and licence 500 Emiratis to manage residential construction projects under the Project Management Experts Programme, said a Wam news agency report.
The Ministry of Economy and Tourism later outlined details of “The Emirates: The Startup Capital of the World” national campaign.
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.
Other initiatives include supporting 250 Emiratis in establishing national real estate companies, licencing 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.
At a press conference attended by members of the UAE Council for Entrepreneurship, 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.
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.
Al Marri said, “‘The Emirates: 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.”
He 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 AED8.7 billion aimed at promoting innovation and supporting SMEs. The UAE is home to over 50 government and private business incubators and accelerators, 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.
Meanwhile, the UAE Council for Entrepreneurship held a meeting chaired by Abdulla bin Touq Al Marri. 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 Emirates: 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.
