In a significant move to bolster the UAE’s entrepreneurial landscape, Emirates Development Bank (EDB) has announced a series of financing solutions and support initiatives for startups and SMEs. The initiative is part of the “The Emirates: Startup Capital of the World” national campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, aimed at cementing the nation’s status as a premier global hub for entrepreneurship.
A Multi-Faceted Financial Toolkit
EDB is set to roll out AED 500 million in financing solutions designed to remove traditional barriers for new and growing businesses. This capital will be deployed through a combination of credit guarantees, co-lending programmes with partner commercial banks, and innovative receivables-based financing facilitated by fintech partners. This approach aims to provide founders with faster and more flexible access to crucial working capital.
Beyond Funding: Building Entrepreneurs
Reinforcing its role as an active builder of the ecosystem, EDB’s campaign extends beyond capital. The initiative includes non-financial enablement programs targeting 500 entrepreneurs, providing them with mentorship and guidance. Furthermore, it will offer pathways to leading national accelerator programs such as AgriX for agricultural technology, the Make it in the Emirates (MIITE) initiative, and the Mohammed bin Rashid Innovation Fund (MBRIF), connecting founders with specialized support networks.
Streamlining Access with EDB 360
At the heart of the campaign is the EDB 360 digital platform, designed to accelerate the entrepreneurial journey. Through the platform, founders can open business accounts in minutes, apply for financing without the need for traditional collateral, and connect directly with a network of ecosystem partners that can support their launch and scaling phases. This digital-first approach is key to making the process “faster, clearer and more inclusive,” according to the bank.
A Vision for Activation
H.E. Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, emphasized the practical focus of the campaign. “Founders do not need inspiration, they need access. This campaign is about removing bottlenecks,” he stated. “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.”
About Emirates Development Bank
Emirates Development Bank (EDB), the UAE’s development bank, is a key financial engine for the UAE’s economic development and industrial advancement. EDB provides financial and non-financial support to businesses of all sizes—from start-ups and SMEs to corporates—driving economic competitiveness across five strategic priority sectors: advanced technology, food security, healthcare, renewables, and manufacturing.
Source: Al Khaleej
