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New initiatives to amplify economic growth

Targets include family businesses, startups, and data processing

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The UAE has introduced new initiatives aimed at strengthening economic growth. These include an accelerator for family-owned businesses that supports them in accessing new markets; an economic research institute established in collaboration with leading universities (UAE Growth Lab); and a global investment conference (Investopia) to be held in March 2022 that will discuss strategies to leverage the opportunities created by the new economy.

The vision, proactive strategy, and committed efforts of the UAE’s federal and local teams have enabled the UAE economy to be progressive, resilient, and stable and maintain a high level of preparedness to deal with any kind of crisis or challenge.

The UAE constantly refines its economic model and strategic approaches to ensure it is able to leverage new opportunities brought by the evolving regional and global environment.

Also launched was an entrepreneurial academy (Skill-Up Academy) and a new platform to support the growth of startups (Scale-Up Platform), in addition to a web portal (Grow in UAE) to provide comprehensive information about policies and investment opportunities in the UAE.

The accelerator platform for family-owned businesses seeks to improve their performance, help them enter new markets, and build their brands. The new accelerator also supports startup projects by enhancing their ability to attract investment opportunities, fast-track growth, and build their capabilities and skills.

The UAE Growth Lab initiative has been established in collaboration with four leading universities - UAE University, Zayed University, American University of Sharjah, and New York University Abu Dhabi. The Lab is designed to be a leading research institute that utilizes data and advanced economic models to develop policies that can support the UAE’s competitiveness and leadership in the global economy, especially in trade, investment, SMEs, and fourth industrial revolution sectors.

Skill-Up Academy is an initiative to promote entrepreneurship and the Scale-Up Platform, a new platform focused on supporting the growth of companies. The Skill-Up Academy seeks to develop the entrepreneurial skills of citizens and residents through educational initiatives and policies that also aim to promote diversification and the competitiveness of the local economy. The Scale-Up Platform supports the growth of small and medium-sized companies with services and products designed to accelerate their expansion.

The Investopia Investment Summit, a new conference to be held in March 2022, aims to bring together major global investors to discuss opportunities in various sectors of the new economy.

The ‘Grow in UAE’ initiative is a smart web portal that provides potential investors with information on policies and procedures and investment opportunities in the UAE with the aim of facilitating their investment journey.