summit "AIM" .. The UAE provides a merit path for emerging companies to reach the club "Unicorn"
Abu Dhabi, 8 May / WAM / The UAE has established a unique system that supports the growth of the emerging and medium-sized companies sector, based on the importance of this sector in supporting sustainable development plans and advancing the national economy.
The “AIM Investment Summit 2024” provides a platform to review the most important elements of successful investment and the challenges facing emerging companies and unicorn companies around the world, as it allocated, in its current session held in Abu Dhabi, a main track for this sector under the slogan “Heading to the Future: 2024, the year in which It will witness a revival of startups and unicorns,” featuring a packed agenda of events to explore innovative solutions and investment opportunities, establish partnerships and exchange knowledge with entrepreneurs, investors and industry leaders.
Starting from the UAE, the dream of startup companies to reach the “Unicorn Club” has become a tangible reality, especially after the country provided them with all the incentives and ingredients for success to achieve this goal.
“Unicorn” is a global economic term used to refer to emerging companies whose capital exceeds one billion dollars. Over the decades, the state has launched many initiatives to support emerging and medium-sized companies, most notably the establishment of Dubai Internet City in 1999, to be a free economic zone and a strategic base for technology companies targeting… Emerging markets, after more than two decades of growth and development, have become a starting point for many global “unicorn” companies.
Among the initiatives supporting emerging and medium-sized companies is also the “Home of Entrepreneurship” project, the integrated and unique national project launched by the Ministry of Economy in 2021, to develop the environment for small and medium-sized companies and entrepreneurial projects in the UAE, which is based on the largest series of partnerships between the government and private sectors.
This project came with the aim of creating a qualitative shift in the factors attracting and working climate for small and medium-sized companies within the country, instilling a culture of entrepreneurship in current and future generations, empowering citizen entrepreneurs in various economic activities and providing all possibilities for the success of their projects, in line with the state’s vision of the entrepreneurship sector as One of the real and reliable bets in building its new economic model and supporting its sustainability and global competitiveness.
According to the report announced last March, the UAE ranks first in the world in the 2023/2024 Global Entrepreneurship Monitor (GEM) report, as the country recorded a score of 7.7, which is a record number recorded for the first time in the history of the report since its launch. Outperforming many developed economies, the country has also been classified as the best place to start and conduct new businesses in the world.
The UAE ranked first globally in 12 indicators out of 13 included in the report, which are financing entrepreneurial projects, ease of access to financing, ease of entering markets, commercial and professional infrastructure, research and development and knowledge transfer, flexible regulations and legislation, pioneering government programs, and government policies and programs. Supportive policies, government policy related to taxes and bureaucracy, entrepreneurship education in schools, entrepreneurship education in universities, and cultural and social norms.
In statements to the Emirates News Agency, WAM, on the sidelines of the AIM Investment Summit 2024, officials confirmed that the UAE has, over the decades, been a starting point for many emerging companies that today have become among the leading “unicorn” companies in the world.
His Excellency Fabio Ricci, Minister of Industry, Crafts, Trade and Technological Research of the Republic of San Marino, said that the UAE is an ideal destination for many companies and global investment entities, noting that the country is characterized by an ideal environment for small and medium-sized companies to grow and develop in light of the distinctive incentives it provides to them that can Ultimately expanding and achieving sustainable growth.
He expressed his happiness at being present at the AIM Investment Summit 2024, which is an ideal platform to enhance cooperation with the UAE in various sectors, especially investment, in a way that contributes to supporting the path of economic growth in his country and attracting more investments.
For his part, Giovanni Zerzerini, Secretary General of the International Network for Small and Medium Enterprises in Italy, explained that the “AIM Investment Summit 2024” provided a unique platform for emerging companies to learn about trends in the global investment climate and explore promising opportunities for growth and development in various sectors, stressing that the UAE has granted many It is one of the success factors for small and medium-sized companies, which today have become among the largest leading companies in the world.
For her part, Dr. Hoda Yassa, President of the Union of Arab Women Investors, confirmed that the investment environment in the UAE is conducive to success for all companies, especially emerging and medium-sized companies, noting that many prominent international companies started from the UAE at the beginning of their work and expanded, flourished, and grew their business until they are today one of the largest companies in the world. Leading unicorn companies in the world.
It is noteworthy that the “AIM Investment Summit 2024” focuses its activities today on the gathering of unicorn startup companies, with the participation of many startups and unicorn companies from major international markets, including, in addition to the UAE, Korea, Japan, Hong Kong, Portugal and the Kingdom of Saudi Arabia. Egypt, Nigeria, Senegal, Kenya, India and many other countries.
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