UAE: Hub for startup growth, entrepreneurship
Economic vision driving startup growth
The UAE's economic vision, centred on diversification, sustainability, and innovation, plays a key role in fostering the startup sector. The country offers a competitive environment that attracts talent and drives growth in non-oil industries such as technology, finance, and renewable energy.
Encouraging foreign investment
With regulations encouraging foreign investment, including full ownership in many sectors, tax incentives, and specialised free zones, the UAE is a global hub for startups. Government initiatives like 'Operation 300bn' and startup incubators such as Hub71 further enhance its appeal.
Sheikh Khalifa Excellence Award
Within this framework, the Sheikh Khalifa Excellence Award emerges as a leading initiative that strengthens quality standards and competitiveness in the business sector. It recognises companies with outstanding performance and innovation, boosting their market position and encouraging expansion.
Entrepreneurs highlight UAE's competitive environment
Several entrepreneurs who recently won the award highlighted the UAE's highly competitive business environment, which accelerates growth across sectors and fosters innovation. They emphasised that the support provided to startups contributes to sustainable growth and enables companies to expand regionally and globally.
Abdulaziz Al Shamsi: Advancing electric vehicle infrastructure
Abdulaziz Al Shamsi, Founder and CEO of Vcharge (an electric vehicle charging company), noted that the award affirms the company's role in advancing electric vehicle infrastructure, aligning with the UAE's sustainable transportation vision. He added that the business environment in Abu Dhabi is a key factor in the success of Emirati projects.
Mohammed Salman: Growth in the manufacturing sector
Mohammed Salman, General Manager of Union Copper Rod, highlighted the growth of the manufacturing sector in the UAE, which is driven by export policies and industrial legislation. Salman highlighted that the factory produces 200,000 tonnes of copper annually, with 90 percent of its output exported, contributing significantly to the national economy and reinforcing Abu Dhabi's industrial position.
Deniz Tekerek: Advancing environmental goals
Meanwhile, Deniz Tekerek, Co-Founder and Chief Commercial Officer at Archireef, expressed that winning the Sheikh Khalifa Excellence Award marks an important milestone for the company, which is dedicated to restoring marine and navigational ecosystems in support of the UAE's environmental goals. He highlighted the need for more specialised companies in environmental protection and closer collaboration with various organisations to achieve the country's sustainability goals.
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