His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has initiated “The Emirates: The Startup Capital of the World” campaign, a strategic move to enhance the UAE’s position as an exemplary global entrepreneurial and innovative hub.
The campaign aims to offer across-the-board support to Emirati youth to enable them to take advantage of the UAE’s special economic environment through a comprehensive ecosystem of initiatives, platforms, and specialized programs to promote innovation, drive growth, and diversify the country’s economy.
Overseen by the Ministry of Economy and Tourism, in partnership with the UAE Government Media Office and the UAE Entrepreneurship Council, the campaign unites more than 50 incubators and accelerators with a broad network of strategic public and private sector partners, and national leaders and academic institutions, to foster an environment that supports entrepreneurial talent and unlocks economic potential.
H.H. Sheikh Mohammed bin Rashid stated, “Today, the Cabinet launched the new national campaign “The Emirates: The Startup Capital of the World.” The new campaign includes over 50 public and private sector entities, with the objective of training and developing 10,000 Emirati entrepreneurs, producing thousands of economic opportunities, and enhancing community awareness on the importance of building on the country’s economic momentum.”. A succession of actions will be launched, and all institutions will be requested to actively take part in this initiative and contribute to its causes.
He further stated, “The UAE at present has 50 business incubators located across the country. Small and medium-sized enterprises are the backbone of the country’s economy, contributing over 63% of the non-oil GDP. The UAE also tops the list of 56 global economies to encourage SMEs and provide the best possible conditions for their growth and success.”.
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The overall objective is to encourage more youth to start their own businesses, actively contribute to promoting economic growth, and grasp the great opportunities presented by the UAE’s vibrant national economy.
StartupEmirates.ae Digital Platform, a startup incubation platform inaugurated in cooperation with the New Economy Academy, offering free mentorship schemes and linking youngsters to startups. The platform plans to bring aboard 10,000 entrepreneurs and create 30,000 new job opportunities within five years by 2030 and provide common workplaces, business networking forums, training courses, and cross-border collaborations to establish the UAE as a gateway for international startups.
The Entrepreneurship Programme for training 10,000 Emiratis in Entrepreneurship is one single programme that trains 10,000 Emirati men and women both with the fundamental knowledge and skills in entrepreneurship.
It encompasses a starter track oriented towards basic concepts and practices for budding entrepreneurs and an advanced track oriented towards the complete cycle from business establishment to sustainable growth and global outreach.
The Programme for Specialised Content Creator in Economics and Entrepreneurship, a national programme for raising awareness on entrepreneurship through training 50 Emirati content creators in economics and entrepreneurship.
The Project Management Experts Programme will develop and certify and license 500 Emiratis to manage residential building projects. They will be equipped with the competence to drive the whole life cycle of housing projects from planning to delivery and will have the skills and expertise to assist homeowners in constructing their homes.
The UAE Tax Agent Programme will Licence 500 professionally certified Emirati tax agents under an intensive three-year training programme. The programme comprises, VAT Diploma, Corporate Tax Diploma, launched in cooperation with the Federal Tax Authority and the New Economy Academy.
The program will enhance the launch of 250 full-time Emirati real estate companies by incubating and sponsoring them. The companies will function as licensed agencies, rather than independent brokers.
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The Young Entrepreneurs & Graduate Business Expo will feature encouraging entrepreneurship at a young age through planning a national expo among all educational institutions together with the Ministry of Education. Apart from planning a special expo for graduate entrepreneurs to present their business projects before a large crowd of investors, prospective partners, and support organizations, in collaboration with the Ministry of Higher Education and Scientific Research.
Regarding the Entrepreneur Participation in Federal Government Procurement, this step was in place to facilitate startups to compete in the federal procurement system under the Ministry of Finance. This involves, enhancing access and competitiveness for startups as well as stimulating their contribution to innovation and economic development.
It also involves prioritizing national entrepreneurs in federal tenders and making procurement processes easier, as well as offering training and awareness programs to enable startups to access and succeed within the government procurement system.
