The UAE launches an updated development program for 8000 SMEs and 20 unicorn startups

The UAE Ministry of Economy has launched an updated program aimed at achieving the country’s goal of becoming a leader in the field of entrepreneurship in the world.

This program implies the development of 8000 small and medium-sized enterprises and startups by 2030. She also aims to create 20 unicorn startups with a valuation of $1 billion and above by 2031.

«The Entrepreneurial Nation 2.0 initiative aims to develop more than 8,000 small and medium-sized enterprises and startups by 2030,» Economy Minister Abdulla bin Touq Al Marri said at GITEX Global 2022 in Dubai. This initiative was developed as a universal platform that unites the entrepreneurial ecosystem of the UAE and unites public and private sector organizations to support entrepreneurs and the development of small and medium-sized businesses.

«SMEs have always been a key element of the integration of our economy, creating many jobs. They are a key aspect of the UAE. They are the front line of any economy and a test of the efficiency of what is happening on the ground,» he said at the presentation.

According to Abdulla bin Touq Al Marri, the latest iteration of the Entrepreneurial Nation 2.0 initiative will help UAE companies gain access to new markets and investors, as well as potential new capital, and bring them to the world stage. At a later stage, it is also planned to expand international participation.

Source: The National