The UAE aims to more than double the number of startups operating in the country to over two million by 2031, as part of a new national drive to position itself as the world’s leading hub for entrepreneurship.
Abdullah bin Touq Al Marri, Minister of Economy and Tourism, said the initiative underpins the campaign “The Emirates: The Startup Capital of the World,” launched to create an enabling ecosystem for young entrepreneurs and high-growth ventures.
Speaking to the Emirates News Agency (WAM), Al Marri said the UAE also expects to see 10 unicorns emerge by 2031, with five already founded in the country. He stressed that fostering startups is central to the nation’s economic growth model and diversification agenda.
The minister highlighted the country’s integrated strategies spanning innovation, intellectual property protection, food security, and open trade through Comprehensive Economic Partnership Agreements (CEPAs). “The UAE’s infrastructure is fully prepared to support entrepreneurial growth at both federal and local levels,” he noted.
The UAE currently hosts more than 1.2 million companies, with entrepreneurs owning nearly 94% of them. SMEs alone contribute 63.5% of non-oil GDP and represent 95% of active firms, underlining their weight in the national economy.
Analysts say the campaign could boost investor confidence, attract global founders, and solidify the UAE’s role as a launchpad for disruptive businesses across fintech, clean energy, logistics, and food tech. The push aligns with broader economic diversification plans under the UAE’s Centennial 2071 vision.
–Input WAM
