Page 446 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/25/24, 11:39 AM UAE boasts comprehensive entrepreneurship, SME ecosystem - GulfToday
establish projects in future and sustainable economic sectors such as FinTech, sustainable
manufacturing, smart mobility, and AI.”

Furthermore, Al Mazrouei reviewed a set of positive indicators that reflect the continued
growth of entrepreneurship and SMEs in the country. Today, SMEs account for 95 percent of
the total number of companies operating in the UAE’s markets, and 86 percent of the private
sector workforce. Their contribution to the UAE’s GDP reached 63.5 percent. Meanwhile,
SMEs owned by Emiratis grew by 10.4 percent in 2022.

Meanwhile, Khalifa Fund for Enterprise Development has announced its support for four
outstanding Emirati businesses in the information technology and communications sector at
Expand North Star 2024, the world’s largest event for global startups and investors, set to
take place at Dubai Harbour from 13th to 16th October.

Organised by the Dubai World Trade Centre and hosted by the Dubai Chamber of Digital
Economy, Expand North Star is part of the renowned Gitex Global in Dubai, and is poised to
unite startups, investors and industry leaders from around the world, showcasing
groundbreaking innovations and fostering collaboration across various sectors.

The list of participants supported by Khalifa Fund includes Rafeeg, a platform bridging the
gap between customers and service providers, offering seamless access to trusted home
maintenance services; By Tech, a technology firm focused on helping businesses grow
through innovative digital solutions tailored to their unique needs; Osool Communications and
Technical Systems, a market leader in providing cutting-edge communication and security
solutions, from CCTV systems to home automation, ensuring high-quality and cost-effective
services; and Anigma Technologies, an Abu Dhabi-based gaming brand dedicated to
enhancing the gaming experience in the GCC by offering premium gaming PC components
and custom-built systems.

Mouza Obaid Al Nasri, Acting CEO of Khalifa Fund, stated, “At Khalifa Fund, we place the
support of the Emirati entrepreneurial community at the forefront of our priorities, focusing on
enterprises and companies that embrace sustainable practices, adopt digital transformation
and innovate effective solutions. We recognise that this forward-looking vision is fundamental
to success in an ever-evolving economy and contributes to shaping a diverse and sustainable
economic future. By supporting Emirati businesses at Expand North Star 2024, we
strategically position them within one of the world’s most dynamic technology ecosystems.
This not only elevates their global presence but also opens doors to meaningful partnerships
and investment opportunities. Our participation highlights the strength of Emirati innovation
and reaffirms the UAE’s commitment to advancing a knowledge-based economy.”

WAM

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