Page 274 - MOE ENGLISH PR REPORT - AUGUST 2024

8/29/24, 4:41 PM PRESSR: HE Alia Al Mazrouei visits Khalifa Innovation Centre, in5 Business Incubator and Masdar Free Zone — TradingView News
their respective entities to empower entrepreneurs and SME owners to grow and

thrive. These efforts are aimed at motivating entrepreneurs to establish and

expand pioneering projects across various economic sectors.

HE Alia Al Mazrouei highlighted the UAE's commitment, under the directives of

its wise leadership, to developing the entrepreneurship and innovation sectors

according to the best global practices. These two sectors are critical drivers of

economic diversification and the nation's transition towards a knowledge-based

economy, in line with the objectives of the “We the UAE 2031” vision.

H.E. said: “We are committed to strengthening our collaboration with business

incubators and SME support funds across the country, recognising their crucial
role in bolstering the competitiveness of the UAE’s entrepreneurial ecosystem.

Our goal is to offer a wide array of financing opportunities and essential

resources to entrepreneurs and SME owners, empowering them with services

such as funding and technical support for their innovative projects. This effort

will further solidify the UAE’s position as a premier global hub for
entrepreneurship and pioneering ventures.”

in5: Incubator for creativity and growth

During her visit to the in5 business incubator, Her Excellency met with Abdulla

Khalifa Belhoul. The in5 team provided HE Alia Al Mazrouei with a detailed
presentation on TECOM Group's role since its inception in 1999 as a key hub for

fostering startups. The presentation highlighted in5's significant achievements,

including the support of four business incubators and centers that cater to

entrepreneurs across various sectors. Noteworthy figures discussed included

over 490 active startups within the system, from which three local billion-dollar
companies have emerged in recent years.

During the meeting, both sides underscored the importance of nurturing

startups in emerging sectors like financial technology and the critical role of

supportive legislation in enabling them to grow, as well as the need to create a

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