Al Mazrouei discusses with 3 entities the development of the entrepreneurship system

Minister of State for Entrepreneurship, Alia bint Abdullah Al Mazrouei, visited Khalifa Innovation Centre, affiliated with Khalifa University of Science and Technology, in5, a business incubator affiliated with TECOM Group, and Masdar City Free Zone, to discuss mechanisms for enhancing joint cooperation during the next phase, to support the development of the entrepreneurship system in the country, accelerate technological innovation, provide new opportunities for Emirati entrepreneurs, and encourage owners of small and medium enterprises in the country to expand into new economic sectors.

During her meeting with the work teams of the three entities, Al Mazrouei was briefed on the programmes, initiatives and incentives provided by the three entities to enable entrepreneurs and owners of emerging projects to grow and develop, and to motivate them to establish their pioneering activities and projects in various economic sectors.

In turn, the in5 team gave a comprehensive presentation on the role of TECOM Group since its establishment in 1999 as a hub for enabling startups. Some notable figures were also reviewed, such as the presence of more than 490 active startups within the system, from which three local billion-dollar companies were launched in recent years. It was agreed to form a joint working group between the Ministry of Economy and TECOM to follow up on initiatives that further support the entrepreneurship system.

During her visit to the Masdar City Free Zone, Al Mazrouei was briefed on the current and future plans of the zone to support start-ups and SMEs, and the discussion also addressed the challenges facing entrepreneurs. At the Khalifa Innovation Center, the two sides discussed a range of challenges facing innovation, including the difficulty of communication between academia and the private sector, and the lack of funding for start-ups in the early stages of their projects.