Inbizzy, Abu Dhabi, – The United Arab Emirates (UAE) has set an ambitious goal to increase the number of startups to more than two million by 2031, while also fostering the creation of at least 10 new unicorns.
UAE Minister of Economy and Tourism, Abdullah bin Touq Al Marri, emphasized that entrepreneurs and startups are a cornerstone of the nation’s economic growth. Currently, the UAE hosts more than 1.2 million companies, with around one million owned by entrepreneurs—representing nearly 94 percent of the total.
National Campaign to Boost the Startup Ecosystem
Speaking at the launch of the national campaign “The Emirates: The Startup Capital of the World”, Al Marri explained that the initiative is designed to create a more supportive environment for young entrepreneurs to build businesses, expand into new markets, and enhance competitiveness.
The campaign also aligns with the UAE’s target of increasing the number of unicorns. To date, the country has produced about five unicorns and aims to reach at least 10 by 2031.
Comprehensive Strategies to Strengthen Competitiveness
According to Al Marri, the UAE has developed comprehensive strategies to reinforce its entrepreneurial ecosystem. These include building economic clusters, enhancing food security, expanding market openness through Comprehensive Economic Partnership Agreements (CEPA), and implementing policies for innovation and intellectual property protection.
He further highlighted that the UAE’s federal and local infrastructure is well-prepared to support the growth of startups in the years ahead.
SMEs’ Role in the National Economy
Small and medium-sized enterprises (SMEs) remain a key driver of the UAE economy. By mid-2022, SMEs contributed 63.5 percent to the country’s non-oil GDP and accounted for 95 percent of all registered businesses operating in the domestic market.
Through these initiatives, the UAE is strengthening its position as a global hub for entrepreneurship, built on innovation, economic inclusion, and sustainable growth.
