At the Sharjah Entrepreneurship Festival on Saturday, February 1, Alia bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, emphasized the UAE’s dedication to fostering entrepreneurship across all sectors. She highlighted that entrepreneurship will be a key driver of the UAE’s economy over the next decade, supported by digitization, emerging economic sectors, and stronger international partnerships.
Unifying the UAE’s Entrepreneurial Landscape
To streamline business operations and support startups, the UAE has launched several initiatives, including ‘Riyada,’ an Arabic platform that means ‘pioneering’. Al Mazrouei explained, “Apart from Riyada, we are creating a unified platform connecting all emirates, making it easier for the public and private sectors to collaborate. This initiative will help entrepreneurs overcome challenges by providing access to markets, financing opportunities, and key industry events.”
The UAE also empowers young entrepreneurs, encouraging them to explore business ownership rather than relying solely on traditional employment. “We have launched a platform dedicated to guiding young people on how to start their businesses instead of depending on jobs,” Al Mazrouei added.
Global Expansion for UAE Entrepreneurs
The UAE is enhancing its local business environment and creating opportunities for entrepreneurs to expand globally. Al Mazrouei shared that 26 UAE entrepreneurs recently participated in a business event in South Korea, with three successfully signing partnership agreements with Korean companies.
“It’s not just about strengthening business locally. We want UAE entrepreneurs to have access to global opportunities,” she said. The UAE’s Comprehensive Economic Partnership Agreements (CEPA) with several countries further open doors for businesses to expand internationally.
Al Mazrouei emphasized the importance of local partnerships for global success: “If someone wants to expand into international markets, our policies will help them. Having a local partner who understands the market landscape is a key recipe for success.”
Role of Universities in Fostering Entrepreneurship
The UAE is set to relaunch the ‘Future 100’ initiative this year to support and recognize innovative businesses. Al Mazrouei also stressed the importance of instilling an entrepreneurial mindset at the university level. “We need to work closely with universities so that innovative ideas can turn into successful businesses,” she said.
Message to Aspiring Entrepreneurs
Al Mazrouei had a clear message for aspiring entrepreneurs: “Resilience and risk-taking are essential. Entrepreneurship is not easy. You will face ups and downs but must have a risk appetite. If you fail, you fail but learn from it and never give up.”
A Thriving Ecosystem for the Future
With continued digitization, supportive policies, and growing global partnerships, the UAE’s entrepreneurial ecosystem is poised to thrive over the next decade. “My goal is to see entrepreneurship flourish across all sectors that the UAE focuses on,” Al Mazrouei concluded. The UAE’s proactive approach to fostering local and global entrepreneurship underscores its commitment to building a dynamic and resilient economy for the future.
