UAE Minister Alia Al Mazrouei Engages with Venture Capital Leaders to Boost Entrepreneurial Ecosystem

Alia Abdullah Al Mazrouei, UAE's Minister of State for Entrepreneurship, held a meeting with directors and CEOs of 20 venture capital funds to strengthen cooperation and support the growth of the UAE's entrepreneurial ecosystem. The focus was on enhancing skills, securing funding, and fostering partnerships for startups.

Abu Dhabi [UAE], September 18 (ANI/WAM): Alia Abdullah Al Mazrouei, the UAE's Minister of State for Entrepreneurship, convened a roundtable with 20 directors and CEOs of venture capital funds. The goal of the meeting was to fortify cooperation and support the development of the UAE's entrepreneurial ecosystem by aiding startups in expanding into new economic sectors. This initiative aims to equip entrepreneurs with the skills necessary to enhance their chances of obtaining funding, forming partnerships, and attracting both domestic and foreign investors.

"The UAE perceives SMEs and entrepreneurship as crucial in building a knowledge-based, innovative, and competitive national economy," stated Al Mazrouei. "Our ongoing efforts are directed toward creating an appealing entrepreneurial environment to make the country a leading hub for startups. The meeting with venture capital funds is a part of these initiatives, facilitating the exchange of best practices and policies to drive SME growth and access to regional and global markets."

During the meeting, Al Mazrouei underscored the UAE's investor-friendly climate, citing its top rank in the number of venture capital deals and second place for investment value in the MENA region for H1 2024. SMEs are pivotal to the national economy, making up 95% of all companies and nearly 86% of the private sector workforce. She also reviewed upcoming plans from attending venture capital funds and discussed strengthening cooperation to foster innovation and creativity within the startup ecosystem.

(With inputs from agencies.)