Abu Dhabi has kicked off its Global Entrepreneurship Festival, a multi-day event designed to bring together founders, investors, and policymakers to reinforce the emirate’s position as a significant hub for startups. The event, held under the patronage of Sheikh Zayed bin Nahyan bin Zayed Al Nahyan, featured a series of major announcements, including new initiatives from the Khalifa Fund for Enterprise Development aimed at simplifying access to capital for entrepreneurs.
Quick Facts
- Khalifa Fund has financed 1,200+ projects
- Total funding provided exceeds AED 1.8 billion
- New instant funding application launched at the event
- SMEs contribute over 60% of UAE’s non-oil GDP
The “Falcon Economy” Takes Center Stage
In her opening keynote, Mouza Obaid Al Naseri, CEO of the Khalifa Fund, outlined Abu Dhabi’s strategy, centered around the “Falcon Economy.” This model prioritizes building a sustainable, competitive economy based on knowledge and advanced technology, with small and medium-sized enterprises (SMEs) at the core of its growth equation.
Al Naseri highlighted the Khalifa Fund’s substantial impact, noting it has financed over 1,200 projects with a total value exceeding AED 1.8 billion. This underscores the growing role of SMEs in driving the UAE’s economic diversification agenda.
Streamlining Access to Capital
A key announcement from the festival was the Khalifa Fund’s launch of an “Instant Application for Project Financing” initiative. The new program is designed to move away from traditional, lengthy procedures, offering entrepreneurs a faster and more efficient digital experience to secure direct funding.
This move directly addresses a critical pain point for founders and signals a clear intent to reduce friction in the fundraising process within the emirate’s ecosystem.
Building a Global Hub for Founders
Panel discussions throughout the event focused on solidifying Abu Dhabi’s status as a global launchpad for entrepreneurs. Speakers emphasized that SMEs are the backbone of the national economy, representing over 94% of all companies in the UAE and contributing more than 60% of the non-oil GDP.
Panelists, including executives from Ma’an, the Federal Youth Authority, and ADNOC, highlighted the emirate’s competitive advantages: advanced infrastructure, flexible legislative frameworks, and diverse funding sources that support startups from inception to scale.
Fostering Youth and Social Impact
The festival also introduced initiatives aimed at cultivating entrepreneurship from an early age and for social good. The “Young Emirati Traders Award” was launched to encourage children and young people to develop innovative business ideas.
Additionally, the “Social Impact Makers Challenge” was unveiled by the Authority of Social Contribution – Ma’an. The challenge offers a grant of AED 1 million to support social enterprises, reinforcing the growing focus on creating businesses that deliver a sustainable community impact.
The event featured over 40 workshops in its “Founders’ Labs,” covering topics from marketing and AI to e-commerce and strategic planning, alongside participation from key ecosystem enablers like Hub71, Abu Dhabi Department of Economic Development (ADDED), and the Abu Dhabi Chamber.
About Khalifa Fund for Enterprise Development
The Khalifa Fund for Enterprise Development was established in 2007 to help develop local enterprises in Abu Dhabi by instilling and enriching the culture of investment among UAE nationals. The Fund aims to support and develop small to medium-sized investments in the Emirate, creating a new generation of entrepreneurs.
Source: Al-Etihad
