The UAE has unveiled a nationwide entrepreneurship drive aimed at positioning the country as the world’s leading startup hub.
Emirates Development Bank (EDB) has launched AED500m ($136m) in new financing and support initiatives under the national campaign “The Emirates: Startup Capital of the World,” initiated by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
Emirates Development Bank (EDB) has introduced a financing solutions and support initiatives for startups and micro, small and medium enterprises (mSMEs).
UAE startup funding
The campaign is designed to accelerate entrepreneurship across all seven emirates by giving founders faster access to financing, digital onboarding tools, mentorship programmes and accelerator pathways.
Through EDB 360, the bank’s digital platform, entrepreneurs can open business accounts within minutes, apply for financing without traditional collateral barriers and connect with ecosystem partners who can support them in launching or scaling their ventures.
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said: “Founders do not need inspiration, they need access. This campaign is about removing bottlenecks.
“Whether it is opening a bank account, securing working capital or finding the right partner to enter the market, we are making the process faster, clearer and more inclusive.
“The UAE already has the ambition to be the Startup Capital of the World. Our role is to turn that ambition into activation, one entrepreneur, one business, one success story at a time.”
EDB entrepreneur support
As part of the rollout, EDB will issue follow-on announcements detailing AED500m ($136m) in financing solutions available through credit guarantees, co-lending programmes and receivables-based support via fintech partners.
Additional tracks of the campaign will include non-financial enablement programmes for 500 entrepreneurs, as well as accelerator access in collaboration with national programmes such as AgriX, MIITE and MBRIF.
The initiative reinforces EDB’s commitment to serve not only as a financier of businesses, but as an active builder of entrepreneurs — fully aligned with the UAE’s national vision to become the Startup Capital of the World.
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