The UAE has set an ambitious goal to double the number of startups to more than two million and nurture at least ten unicorns by 2031.
Currently, the country is home to over 1.2 million businesses, with nearly one million of them entrepreneur-owned. SMEs already contribute over 63% of the UAE’s non-oil GDP.
Government support continues through incentives such as tax relief for smaller firms, long-term visas, and financing of up to $1.3m for tech startups. The new campaign aims to secure the country’s global reputation as a startup powerhouse.
Gulf Economist Staff Writer