- UAE launches AED500m initiative to become global startup hub.
- EDB 360 enables fast accounts, funding, and ecosystem support.
- The program offers financing, mentorship, and accelerators to 500 entrepreneurs.
The UAE has launched a comprehensive entrepreneurship initiative designed to establish the nation as the premier startup center globally. Emirates Development Bank (EDB) has introduced AED500m ($136m) in fresh financing and support programs as part of the national campaign "The Emirates: Startup Capital of the World," launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
Emirates Development Bank (EDB) has launched financing solutions and support programs for UAE startups and micro, small, and medium enterprises (MSMEs). The initiative aims to speed up entrepreneurship throughout all seven emirates by providing founders with quicker access to startup funding, digital onboarding resources, mentorship programs, and accelerator opportunities.
Through EDB 360, the bank’s digital platform, business owners can set up accounts in just minutes, seek funding without conventional collateral limitations, and collaborate with ecosystem partners who can assist them in starting or expanding their businesses.
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, said, “Founders do not need inspiration, they need access. This campaign is about removing bottlenecks. From opening a bank account to obtaining working capital or locating the ideal partner for market entry, we streamline the process to be quicker, clearer, and more accessible.
“The UAE already has the ambition to be the Startup Capital of the World. Our role is to turn that ambition into activation, one entrepreneur, one business, one success story at a time.”
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During the rollout, EDB will release additional announcements outlining AED500m ($136m) in financing options provided through credit guarantees, co-lending initiatives, and receivables-based assistance in collaboration with fintech partners. Extra components of the campaign will feature non-financial support initiatives for 500 entrepreneurs, along with accelerator access in partnership with national programmes such as AgriX, MIITE, and MBRIF.
The initiative strengthens EDB’s dedication to act not just as a business financier, but as a proactive developer of entrepreneurs, completely in line with the UAE’s goal to be the Startup Capital of the World.