Can the UAE become a global startup hub?

A few key challenges are still holding entrepreneurs back in the UAE, as the federal government makes startups a key plank in its Vision 2021 development plan.

Last week the UAE announced an $82 billion science and technology fund, designed to catapult the country into the ranks of internationally leading competitive knowledge economies, and the UAE National Charter 2021 seeks to turn the UAE into a global entrepreneurship hub.

Now, halfway through the decade that the UAE wants to end by being one of the best places in the world to do business, it’s time to take a closer look at how the startup ecosystem is growing and where the roadblocks are.

Signs of success

The UAE entrepreneurship ecosystem has grown tremendously during the last five years.

Most famous startups sooner or later choose the UAE as their headquarters: Dubizzle, compareit4me.com, Eureeca.com, Fetchr, GoNabit, JadoPado, Just Falafel, Nabbesh, propertyfinder.ae, and Souq are just a few.