UAE’s ‘Future 100’ initiative to support key startups

In line with World Futures Day, the Ministry of Economy (MoE) and the Government Development and the Future Office launched the “Future 100” initiative, aiming to support 100 startups in new sectors that will shape the future economy of the UAE.

The initiative will annually highlight the top 100 startups that will promote the UAE’s readiness for the future and the competitiveness of the future economic sector in the UAE.

The “Future 100” initiative launch was attended by Abdullah Bin Touq Al Marri, Minister of Economy; Ohood bint Khalfan Al Roumi, Minister of State for Government Development and The Future; and 30 CEOs representing local and international companies, startups, as well as entrepreneurs in the UAE.

Al Marri stated that the UAE is keen to launch proactive initiatives whose impact extends over the Next 50 to support its new, futuristic economic model in line with emerging global economic trends. This translates the directives of the UAE’s wise leadership and reflects the principles of the 50 and the objectives of the UAE Centennial 2071.

“The Ministry of Economy continues to support innovative future projects that promote the UAE’s global leading position on competitiveness indicators, and supports it as an attractive destination for future projects from all over the world. It further enhances its position as a permanent hub for creativity and innovation, securing sustainable growth for the UAE’s national economy and creating new jobs, especially in sectors pertaining to the new economic fields, such as space, renewable energy, fintech, and AI,” he added.

Ohood Al Roumi stressed that enhancing future readiness is a key pillar in the methodology of the UAE government. She emphasised the partnership with the Ministry of Economy in launching the “Future 100” initiative that represents the first step in a series of initiatives that the Office is working on in partnership with government entities and leading private sector institutions to enhance the UAE’s readiness for the future in all fields.

She highlighted that the initiative embodies future directions of the UAE’s leadership, which were announced in the “We the UAE 2031” vision, focusing on boosting the UAE’s economy, increasing GDP, and driving the performance of new economic sectors. It reflects the 10 principles of the Next 50 Doctrine, which aims to develop the best and most dynamic economy in the world. Al Roumi noted that the initiative comes within the UAE’s new economic agenda, which is based on supporting start-ups, youth and entrepreneurs, and motivating them to innovate in new economic sectors to enhance the UAE’s global competitiveness.

The initiative aims to support new economic sectors that will shape future economy of the UAE, especially startups that contribute to the national economy, as one of the main goals on the UAE government agenda. It also celebrates successes of the private sector as a pivotal partner in the development journey of the UAE, by annually celebrating the top 100 startups that contribute to enhancing the competitiveness of the UAE’s future economy.

In addition, it touches upon the UAE’s position as the leading land of opportunities, incubating distinguished global talents in varied future sectors. It also aims to boost the UAE’s position as a global hub for innovation, top-notch technologies and entrepreneurship, leveraging the UAE’s digital infrastructure, which is considered the best in the Mena region. Within the initiative, the UAE presents various benefits and incentives to young entrepreneurs enabling them to establish futuristic startups and develop their companies into becoming international businesses. The initiative further promotes the UAE’s leading ranking on global competitiveness indicators in the fields of innovation, entrepreneurship, attractiveness for investment, among others, aiming to enhance the role of the private sector and startups in supporting the UAE’s GDP, which achieved an 8.5 per cent growth during the first half of 2022.

The United Nations Educational, Scientific and Cultural Organisation (UNESCO) has marked the 2nd of December as the World Futures Day, to be celebrated parallel to the UAE’s National Day.

The initiative aims to improve long-term resilience through futures and anticipatory approaches, including strategic foresight, promoting future readiness and proactive policy-making to achieve sustainable development for future generations.

WAM