Future100 Initiative Discusses Boosting UAE's SME Growth And Innovation Ecosystem

The Future100 initiative has reaffirmed its commitment to supporting the growth of small and medium-sized enterprises (SMEs) in the UAE's future economy sectors. It aims to create a strong investment ecosystem that aligns with technological advancements and boosts economic growth opportunities.

This commitment is designed to drive significant change in the UAE's economy and strengthen the country's position as a global hub for innovation and entrepreneurship, WAM reported.

The discussion sessions were held on Wednesday and Thursday, attended by Minister of State for Entrepreneurship Alia bint Abdullah Al Mazrouei and Minister of State for Government Development and the Future Ohood bint Khalfan Al Roumi.

The sessions also included entrepreneurs, startups, investment funds, business incubators, accelerators, and global technology and innovation companies.

Al Mazrouei highlighted Future100's impact on SME growth, enabling expansion into global markets. She emphasized the UAE's supportive business environment, with SMEs making up 94% of all businesses and 25,000 new Emirati-founded startups in 2024.

The UAE's strong network of incubators and accelerators helped it rank first in the Global Entrepreneurship Monitor (GEM) Index for 2023-2024. The country aims to boost entrepreneurs' success rates from 30% to 50% over the next decade through initiatives like the AED300 million Riyada Fund and the UAE Entrepreneurship Council.

The event featured key sessions, including the Cisco Digital Innovation Award, which showcased Cisco's Product Innovation Lab supporting SMEs. Another session, "Accelerating Future," explored AI-driven startups and financing strategies with industry leaders from Hub71, DIFC Innovation Hub, and Abu Dhabi Global Academy. "Coming of Age" discussed entrepreneurship's role in transforming MENA's economy.

The Crimson Founders Demo Session presented six startups from MIT and Harvard, covering AI, biotechnology, fintech, and energy. Investors like Arya Bolourfrushan and David Brown participated.

A closed session, "DHL Forward Challenge," featured winning innovations reshaping logistics with digital solutions. Experts like Irina Albanese from DHL and Anjan Kumar from Greendzine led discussions on future industry advancements.

On the second day of the Future100 event, key sessions focused on SME financing, women entrepreneurs, and investment strategies. "Funding the Future" explored innovative financing models for SMEs, emphasizing how technology simplifies funding and the role of partnerships in building a strong financial ecosystem.

"Empowered and Enabled" discussed the impact of women entrepreneurs and how they balance business and family life. Experts like Maha Al Gergawi from Dubai Chambers and Salama Al Amimi from the Family Care Authority highlighted investment opportunities and supportive policies for women in business.

Wio Bank CEO Jayesh Patel led a session on advanced financing solutions for SMEs, showcasing how digital banking can drive business growth. "Investing in Tomorrow" examined strategies for expanding businesses in AI, modern technologies, and fintech.

The event concluded with "Catalysts of Success," where entrepreneurs shared their investment journeys and growth strategies. Tarek Othman from Abro Company and Haitham Al-Riyahi from Sirka Biotech discussed securing funding and scaling businesses, moderated by Sonia Gokhale from Venture Market.