A new initiative to support 100 startups in new sectors was launched in the UAE on Tuesday.
The initiative, launched by the Ministry of Economy and the Government Development and the Future Office, aims to support new economic sectors that will shape future economy of the UAE, especially startups that contribute to the national economy.
It also celebrates successes of the private sector as a key partner in the development journey of the UAE, by annually celebrating the top 100 startups that contribute to enhancing the competitiveness of the UAE’s future economy.
The initiative also aims to boost the UAE’s position as a global hub for innovation, high-end technologies and entrepreneurship, leveraging the UAE's digital infrastructure.
The project also promotes the UAE’s top ranking on global competitiveness indicators in the fields of innovation, entrepreneurship, attractiveness for investment, among others, aiming to enhance the role of the private sector and startups in supporting the UAE’s GDP, which achieved an 8.5 per cent growth during the first half of 2022.
The ‘Future 100’ initiative launch was attended by Abdulla bin Touq Al Marri, Minister of Economy; Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future, and 30 CEOs representing local and international companies, startups, as well as entrepreneurs in the UAE.
"The Ministry of Economy continues to support innovative future projects that promote the UAE's global leading position on competitiveness indicators, and supports it as an attractive destination for future projects from all over the world. It further enhances its position as a permanent hub for creativity and innovation, securing sustainable growth for the UAE’s national economy and creating new jobs, especially in sectors pertaining to the new economic fields, such as space, renewable energy, fintech, and AI,” Al Marri said.