Sheikh Mohammed Launches “The Emirates: The Startup Capital of the World” Campaign
In a bold move to bolster the UAE’s status as a global entrepreneurial hub, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has unveiled the campaign titled “The Emirates: The Startup Capital of the World.” This initiative aims to train a significant cohort of 10,000 Emirati entrepreneurs and create a robust ecosystem that fosters innovation and business growth.
A Comprehensive Plan for Economic Growth
The UAE is on a mission to generate 30,000 new jobs and provide numerous opportunities aimed at small and medium-sized enterprises (SMEs). As the campaign progresses, it seeks to elevate the UAE’s profile in the international startup ecosystem, positioning it as a leader in entrepreneurship.
Sheikh Mohammed emphasized the collaborative nature of the campaign, stating, “Today, the Cabinet launched the new national campaign ‘The Emirates: The Startup Capital of the World.’ This initiative brings together more than 50 entities from both public and private sectors to train and nurture Emirati entrepreneurs.”
Supporting SMEs: The Backbone of the Economy
The UAE currently boasts 50 business incubators spread across its regions. According to reports, small and medium enterprises constitute over 63% of the national non-oil GDP, making them essential to the nation’s economic health and sustainability. Recognition has also been given to the UAE’s favorable conditions for SMEs, as it ranks highly globally for supporting entrepreneurship.
Key Elements of the Campaign
Under this comprehensive campaign, a range of initiatives will be launched to foster entrepreneurship:
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StartupEmirates.ae Platform: Aimed at attracting 10,000 entrepreneurs and generating 30,000 jobs by 2030, this platform offers free mentorship, networking opportunities, and access to co-working spaces.
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Entrepreneurship Training Program: This program will train 10,000 Emirati men and women, offering courses tailored to different knowledge levels, focusing on business creation and sustainable growth.
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Content Creator Program: Designed to enhance economic awareness, this initiative will educate 50 Emirati content creators about entrepreneurship and economic principles.
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Project Management Experts Program: This initiative will qualify 500 Emiratis to manage residential construction projects, enhancing local construction expertise.
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UAE Tax Agent Program: Through partnerships with the Federal Tax Authority, this program will license 500 Emirati tax agents via diploma courses in VAT and Corporate Tax.
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Real Estate Initiative: The campaign aims to incubate 250 full-time Emirati-owned real estate agencies, encouraging local investment in this vibrant sector.
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Youth Business Expo: A nationwide project showcasing young entrepreneurs’ business proposals at schools and universities, connecting them with potential investors and partners.
- Streamlined Federal Procurement Participation: Startups will gain opportunities to compete for federal tenders with simplified processes that foster competitiveness.
Driving National Economic Diversification
The overarching goals of this campaign are not just to support emerging entrepreneurs but to align with broader national efforts aimed at diversifying the economy and motivating the youth. Sheikh Mohammed articulated a vision wherein young people are inspired to assume active roles in driving economic development.
Specific Goals of the Initiative
To measure the success of this campaign, several key targets have been set:
- Train 10,000 Emirati entrepreneurs.
- Create 30,000 new jobs through the StartupEmirates.ae platform by 2030.
- Launch 250 full-time Emirati-owned real estate companies.
- Certify 500 Emiratis as residential project management experts.
- License 500 Emiratis as tax agents, with a focus on VAT and Corporate Tax.
- Provide specialized training to 50 Emirati content creators in economics and entrepreneurship.
This initiative is pivotal for reinforcing the UAE’s reputation as a flourishing startup environment and signals a commitment to nurturing talent for future growth.
