The Emirates: The Startup Capital Of The World — A New Campaign To Establish The UAE As The Leading Global Hub

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, recently unveiled "The Emirates: The Startup Capital of the World" initiative.

This strategic move is designed to solidify the UAE's status as a global hub for innovative entrepreneurs. The campaign aims to harness the UAE's distinctive economic climate to support Emirati youth through an array of initiatives, platforms, and programs that encourage innovation, speed up growth, and diversify the economy.

Under the supervision of the Ministry of Economy and Tourism, this initiative is a collaborative effort with the UAE Government Media Office and the UAE Entrepreneurship Council. It unites more than 50 incubators, accelerators, public and private sector partners, and academic institutions.

"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," said Sheikh Mohammed.

He emphasised the campaign's role in training and nurturing 10,000 Emirati entrepreneurs, creating economic opportunities, and raising awareness about leveraging the country's economic momentum.

One of the cornerstone projects of this initiative is the StartupEmirates.ae Digital Platform. In collaboration with the New Economy Academy, this online entrepreneurship support platform offers free mentorship and connects young entrepreneurs with startups.

With a goal to attract 10,000 entrepreneurs and generate 30,000 jobs by 2030, the platform provides resources like shared workspaces, networking events, and cross-border partnerships, positioning the UAE as a global startup gateway.

The campaign also includes specialised training programmes aimed at empowering Emiratis. The Entrepreneurship Programme is set to train 10,000 Emiratis in entrepreneurship, covering both fundamental and advanced business concepts. Additionally, the Specialised Content Creator Programme in Economics and Entrepreneurship aims to raise awareness about entrepreneurship by training 50 Emirati content creators.

Further enhancing the UAE's economic landscape, the Project Management Experts Programme and the UAE Tax Agent Programme are designed to qualify 500 Emiratis in residential construction project management and certify another 500 as tax agents, respectively. These programs are crucial for the development of critical sectors within the national economy.

Moreover, the initiative plans to incubate 250 full-time Emirati real estate companies, enhancing the UAE's real estate sector. The Young Entrepreneurs & Graduate Business Expo, in partnership with the Ministry of Education and the Ministry of Higher Education and Scientific Research, will foster entrepreneurship among the youth and graduates by showcasing their business projects to potential investors and partners.

In a push to integrate startups into the nation's economic fabric, the Entrepreneur Participation in Federal Government Procurement policy will enable startups to compete in federal procurement processes. This policy aims to expand startups' access to government tenders, prioritizing national entrepreneurs and simplifying procurement procedures. It also includes training programmes to help startups navigate the government procurement ecosystem effectively.