Page 701 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/26/25, 3:45 PM UAE Minister Highlights Role of SMEs in Economic Growth - برﻌﻟا لﺎﻣﻋﻷا داور ﺔﺻﻧﻣ | ﻲﺑرﻋ تﻧإ
Discussions focused on:

The role of SMEs in economic expansion and job creation.

Policies and initiatives to enhance startup competitiveness.

The impact of digital tools, AI, and automation on entrepreneurship.
The importance of attracting and scaling unicorn startups.

Entrepreneurship: A Strategic Pillar for Economic Growth

Alia Al Mazrouei stated:”The entrepreneurship and SME sector is a strategic pillar of the UAE’s vision to become one
of the world’s top economies by the next decade. SMEs already contribute 63.5% of the UAE’s non-oil GDP.”

She highlighted the UAE’s integrated national entrepreneurship framework, which fosters innovation, supports Emirati
entrepreneurs, and enhances the global competitiveness of startups.

The UAE currently hosts over 50 government and private business incubators and accelerators.

The Minister outlined several initiatives launched in November 2024 to boost the UAE’s startup ecosystem: “Riyada
Fund” – A AED 300 million fund providing financial support, mentorship, and industry networking opportunities for
Emirati-led startups.

“UAE Entrepreneurship Council” – A national body aligning government efforts to strengthen SMEs.

“100 Companies of the Future” & “Investopia” – Programs fostering innovation-driven startups in sustainable and
emerging sectors.

She also highlighted the government’s goal of increasing SME participation in public sector contracts to 10%.

UAE: A Thriving Hub for Unicorn Startups

Alia Al Mazrouei emphasized the UAE’s strong position as a global startup hub, ranking 17th worldwide for unicorn
startups.

“The UAE has become a launchpad for billion-dollar startups. Companies like Careem, SWVL, and Dubizzle

originated in our ecosystem, and today, the country is home to 11 unicorns valued at over $1 billion each.”

The Minister also stressed the role of AI and digital transformation in accelerating SME success, positioning the UAE
as a global leader in AI-driven innovation and entrepreneurshipر

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