The United Arab Emirates aims to expand its entrepreneurial ecosystem by increasing the number of startups to more than 2 million by 2031, according to the Minister of Economy and Tourism Abdulla Bin Touq Al Marri, and as reported by Emirates News Agency (WAM).
The UAE is making a major push to become a global startup hub, recently setting records for startup funding this year and launching a campaign to increase the number of startups significantly by 2031. The initiative aligns with the country’s goals of economic diversification and competitiveness, with a focus on industries like technology, healthcare and food security.
The country has a vibrant startup ecosystem, including a digital platform (StartupEmirates.ae), incubators, accelerators, a focus on personalized mentorship and very active companies in sectors like fintech, e - commerce and logistics.
Notable startups include Careem (ride – hailing acquired by Uber) , Grubtech (food tech), TruKKer (logistics) , Sarwa (fintech), and Ziina (peer – to peer payments).
Currently the country hosts over 1.2 million companies, with nearly one million owned by entrepreneurs, representing 94% of the total, mall and medium - sized entreprises contribute around 63.5% of non - oil GDP and account for 95% of all registered businesses and a large part of them is dedicated to the development of startups.
Speaking on the sidelines of a press briefing the Minister of Economy and Tourism said that the country also targets the creation of 10 unicorn startup companies within the same timeframe, five of which have already emerged and he stressed that entrepreneur are central to the UAE’s economic growth.
The Minister also underlined that the United Arab Emirates’ strategy includes economic clusters, food security policies, innovation and intellectual property frameworks, and Comprehensive Economic Partnership Agreements to ensure a supportive environment for new ventures.
The official emphasized that the country’s infrastructure at both federal and local levels is fully equipped to support entrepreneurial growing, positioning the United Arab Emirates as a global hub for startups in the coming decade.
Link
https://tvbrics.com/en/news/uae-sets-target-of-over-2-million-startups-by-2031/
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