Stock-Abu-Dhabi-Chambers Image Credit: Supplied

Abu Dhabi: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of a working group for startups and small and medium-sized Enterprises (SMEs) representing the interests of startups and SMEs registered in Abu Dhabi.

The Startups and SMEs Working Group will operate under the umbrella of ADCCI and is dedicated to empowering businesses and increasing their role in the economic development of Abu Dhabi. Through a partnership with government agencies and the private sector, the working group aims to solve the sector's enterprises' challenges, foster innovation, and drive economic diversification, ensuring sustained growth and development.

The working group aims to support the growth and development of enterprises in this sector, considering their role in providing job opportunities for more than 46% of the Emirate's workforce while contributing to 42.8% of Abu Dhabi's non-oil GDP. The group's efforts will focus closely on monitoring the needs and requirements of startups and SMEs.

Fouad Darwish, Board Member of ADCCI and Chairman of the Startups and SMEs Working Group, said: "The Startups and SMEs Working Group will be responsible for developing plans and proposing policies, which will seamlessly attract representatives from these enterprises to enter into promising sectors, particularly modern technology sectors experiencing significant local and global advancements. Additionally, the group will spearhead numerous programs, initiatives, and activities tailored to furnish startups and SMEs with the necessary guidance and skills, as well as coordinate with various parties to provide a platform that enhances cooperation and the exchange of experiences, ideas and opportunities that support the growth of startups and SMEs."

Ahmed Khalifa Al Qubaisi, CEO of ADCCI, said: "The establishment of the Startups and SMEs Working Group marks a significant stride in fortifying the growth trajectory of this crucial sector. Over the past years, it has experienced a qualitative leap attributed to the collaborative efforts of ADCCI and government entities in the Emirate, fostering an enabling environment conducive to these enterprises' growth. Such initiatives aim to accelerate their role as pivotal contributors to economic advancement, aligning with Abu Dhabi's vision and the goals outlined for the next fifty years."