According to the Entrepreneurial Nation project, the UAE will launch a Dh1 billion private equity fund to assist UAE-based start-ups and SMEs working in critical industries. By luring talented individuals and foreign finance, the UAE hopes to become home to 20 unicorns by 2031.
By luring in qualified personnel and foreign capital, the UAE hopes to become home to 20 unicorns by 2031. To promote UAE-based start-ups and SMEs working in critical sectors, the country will establish a Dh1 billion private equity fund.
The UAE aspires to do more to maintain its position as a top Gulf investment destination, according to H.E. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, who spoke during the project’s launch in Dubai. The minister stated during a media event that by 2031, “we want to be home to 20 companies worth more than $1 billion each.”
Through a number of public-private collaborations, the Entrepreneurial Nation project will provide assistance to entrepreneurs so they can establish themselves in the United Arab Emirates, grow their companies, export their goods, and increase their online sales.
The Entrepreneurial Nation programme will provide a centralised location for start-ups from conception to growth, hone entrepreneurial abilities, and provide benefits for a variety of people, including students, new graduates, workers, retirees, homemakers, and jobseekers.
According to H.E. Al Falasi, the UAE is preparing to launch a Dh1 billion private equity fund to aid UAE-based entrepreneurs and SMEs working in important industries.
On the other hand, business and visa reforms will be implemented in order to entice more foreign nationals to reside. And, work in the nation after businesses were negatively impacted by the coronavirus outbreak last year.
In order to encourage start-ups and entrepreneurship, the government “plans to offer money in many formats, including equity, direct loans, and loan guarantees,” the minister stated.
In the UAE, how many unicorns exist?
The United Arab Emirates’ Three Unicorns
information on the sectors, stages, and nations that they typically invest in. Information about the company’s valuation, headquarters location, founding year, founders’ names, funding amount, and personnel count.
Which nation is home to the most unicorns?
United States
The United States had the most unicorns, or privately held businesses. As, of November 2022, defined as those with a valuation of $1 billion or more.
The benefits of Dubai for startups
International entrepreneurs frequently choose to register their holding corporations in Dubai International Financial Centre. And, the Abu Dhabi Global Market, two free economic zones. Startups have the opportunity to grow into the Middle East and Africa by being in the UAE.
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