UAE And European Women's Association Unveil Top 17 In Women's Entrepreneur Programme

The Ministry of Economy and the European Women's Association (EWA) have announced the top 17 companies in the Investment Readiness Acceleration Programme, launched in March 2024. This initiative aims to support the growth of women-led start-ups in the UAE, promoting their expansion into new economic sectors and providing essential skills for raising capital and investments.

Out of 200 applicants, 17 companies were selected, with eight receiving financial support from investors interested in their creative ideas and innovations. A committee of venture capital and private equity experts reviewed these top projects. The event also highlighted the top three start-ups, which were awarded cash prizes from the GETVISION family office.

The first-place prize of AED200,000 was awarded to Zidyia, a company specialising in creating educational pathways for teachers and learners. Diagnio, focusing on women's health management, and The Food Engine, which promotes sustainable agricultural practices, each received AED100,000 for second and third place respectively.

Additionally, five other companies founded by Emirati citizens and expatriates will receive subsequent investment support of up to AED2 million. This financial backing aims to further their development and integration into the UAE's economic landscape.

Badreya Al Maidoor, Assistant Under-Secretary for the Support Services Sector at the Ministry of Economy, emphasised that the programme encourages gender equality and empowers women in various economic activities. She noted that it aims to enhance economic development by supporting new entrepreneurial projects initiated by women.

Al Maidoor highlighted that eight out of the 17 selected companies received funding opportunities from investors who attended their presentations. The programme offers direct and specialised learning opportunities through training courses covering key aspects of establishing and developing start-ups tailored to female entrepreneurs' unique needs.

EWA's Role and Vision

Yulia Stark, Founder and President of EWA, stated that over the past three years, efforts have been focused on building bridges between female entrepreneurs in Europe and the UAE. She mentioned that access to financing remains a challenge for female entrepreneurs, which the EWA Accelerator aims to address by providing financial support and vital ecosystem partnerships.

Stark pointed out that supporting female entrepreneurs in obtaining financing has been a decade-long endeavour for EWA. Their collaboration with the UAE Ministry of Economy aims to expand this support across the UAE and other Gulf Cooperation Council countries.

Future Prospects

Daria Vasilyeva, Founding Partner of EWA Accelerator, explained that the project was launched to support women seeking investments over the next six to nine months. From 200 start-ups, many were selected to participate in the programme to become more investment-ready, culminating in the selection of the top 17 companies.

This initiative marks a significant step towards fostering an inclusive entrepreneurial ecosystem in the UAE. By providing targeted support and resources, it aims to empower women entrepreneurs to contribute meaningfully to economic growth and innovation.

With inputs from WAM