UAE Launches Ambitious Initiative to Double GDP by Supporting 100 Startups Annually
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The UAE aims to double its GDP by 2031 through developing startups and SMEs. The Future 100 initiative will identify and support 100 promising startups annually.
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The initiative will focus on startups in sectors like manufacturing, FinTech, mobility, biotech, entertainment, space, renewable energy, cybersecurity, etc.
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It will provide support to startups in terms of funding, advice, and capacity building. 25 strategic partners have joined to accelerate 100 startups.
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The UAE wants to become a regional hub for innovation and entrepreneurship. It aims for 20 startups valued over $1 billion by 2031.
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The Entrepreneurial Nation programme seeks to develop over 8,000 SMEs and startups by 2030 to boost the startup ecosystem.