Page 197 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 3:24 PM UAE Ministry of Economy Hosts Riyada Development Program in Al Dhafra to Boost Startup Growth
Empowering Entrepreneurs For A Knowledge-Driven Economy

H.E. Alia Al Mazrouei highlighted the UAE’s commitment to fostering a thriving entrepreneurial
ecosystem, emphasizing the role of startups and SMEs in driving economic progress.

"This event serves as a key platform to highlight the unique advantages offered by the UAE’s
entrepreneurial ecosystem and how to leverage them. It also offers a valuable opportunity to

exchange ideas, insights, and experiences in all aspects of entrepreneurship and SMEs development.
The initiative also enables us to learn more about the innovative startups in Al Dhafra, listen to
entrepreneurs’ ideas and proposals regarding the enablers they need for business growth, and
encourage them to launch new ventures that benefit the community and contribute to the UAE’s

economic progress," she stated.

Showcasing The Riyada Entrepreneurship System

During the event, H.E. Al Mazrouei introduced the initiatives under the Riyada entrepreneurship
system, which was launched in November 2024 by the Ministry of Economy. These include:

Riyada Fund
UAE Entrepreneurship Council
National Unified Entrepreneurship Platform
UAE Youth Entrepreneurship Council
She stressed the importance of ensuring these initiatives reach all seven emirates to boost the
UAE’s entrepreneurial competitiveness.

SME Growth And Entrepreneurial Impact In The UAE

H.E. Al Mazrouei noted the strong growth of the UAE’s entrepreneurship sector, with Emirati

youth launching 25,000 SMEs in 2024 alone. Currently, SMEs represent:

94% of total companies in the UAE
63.5% of the UAE’s non-oil GDP
Over 50 business incubators and accelerators across the country
Addressing Entrepreneurial Challenges In Al Dhafra

A panel discussion was held during the event, addressing the challenges faced by
entrepreneurs in Al Dhafra and exploring strategies to turn these obstacles into growth
opportunities. The event also showcased inspiring success stories from entrepreneurs and
startup founders in the region.

Through initiatives like Riyada, the UAE continues to cement its position as a global leader in
entrepreneurship, offering a robust support system for startups and SMEs.

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