In a major push to solidify its position as a global hub for startups, the UAE has launched a new program to train and incubate 10,000 entrepreneurs over the next five years.

The initiative is a key component of the 'Startup Capital of the World' campaign , launched in September by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Representing a strategic partnership between the Ministry of Economy and the New Economy Academy, the drive is designed to empower the nation's workforce and accelerate the growth of small and medium-sized enterprises (SMEs).

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The UAE has already been recognised as the top country for entrepreneurs for the fourth consecutive year by the Global Entrepreneurship Monitor.

Ideas into projects

Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, described the program as a“strategic step towards preparing a new generation of entrepreneurs to transform their ideas into projects.”

Regarding what the initiative can achieve, Al Saleh stated that it will“enhance economic diversification and strengthen the competitiveness of our economy.”

Two main tracks

As part of the campaign, the Dubai International Financial Centre (DIFC) Authority has announced it will provide free membership and training for 10,000 entrepreneurs.

Arif Amiri, CEO of the DIFC Authority, also revealed that over 500 mentors will be available to guide participants, who will gain access to exclusive regional events through the Ignyte platform.

Ignyte, a flagship initiative under the Dubai Digital Economy Mandate launched by Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai, is designed to accelerate innovation and entrepreneurship.

Dr Laila Fereidoun, CEO of the New Economy Academy, stated that the program aims to“provide thousands of economic opportunities and enhance the role of small and medium enterprises in the economy.”

The entrepreneurship program will offer two main tracks:

. Basic Entrepreneurship Program: A three-day course, offered both in-person and virtually, with the first session starting on November 16.

. Integrated Entrepreneurship Program: A more intensive six-day program, also a mix of in-person and virtual training, with the first session launching on December 8.

'Door is open to everyone'

The curriculum is designed to provide a comprehensive learning path, from ideation to expansion. It will cover key areas such as market entry strategies, financial planning, and pitching skills, with training provided by both local and international experts.

“The door is open to everyone,” said Al Saleh, noting that the only requirement for applicants is to be 17 years of age or older.

He added that a coalition of over 50 public and private sector partners has pledged to launch further initiatives to support entrepreneurs, with more details to be announced soon.

While the initial campaign is set for one month, its impact is expected to extend for years to come.

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