UAE Retains Top Global Ranking As The Best Destination For Female Entrepreneurs

For the fourth consecutive year, the UAE has been ranked as the number one country globally for both entrepreneurship and female entrepreneurship by the Global Entrepreneurship Monitor (GEM). This sustained leadership was highlighted by Dr. Chiara Spina, Professor of Entrepreneurship and Family Enterprises at INSEAD, who emphasized the nation’s uniquely supportive ecosystem for women founders, even as significant gender disparities persist in global venture funding.

A Consistent Leader in Entrepreneurship

Speaking at a recent event in Dubai, Dr. Spina affirmed the UAE’s standing as a premier destination for business leaders. “There is no better place than the UAE,” she stated, referencing the country’s consistent top ranking by GEM. She further noted the alignment of policy and practice, pointing out that the UAE’s Minister of State for Entrepreneurship and SMEs is a woman, reflecting a deep-seated commitment to fostering female leadership from the top down. This environment provides a powerful foundation for women looking to launch and scale their ventures.

Navigating Global Funding Disparities

Despite the UAE’s positive landscape, Dr. Spina, who has worked with over 3,000 entrepreneurs worldwide, outlined the significant global challenges that female founders continue to face. While women are founding companies at a rate comparable to men, they secure a disproportionately small fraction of investment. “Women start businesses at a pace no less than men every year globally, yet the funding that women receive from professional investors is not more than 2 per cent,” she explained. Dr. Spina illustrated this bias with an anecdote of a female founder whose innovative “gym in a van” concept struggled to attract investors, while a male founder with a similar idea received widespread media attention and capital. This discrepancy often stems from investors posing more defensive questions to women, placing them at a disadvantage in securing funding.

Overcoming Network and Talent Barriers

Beyond funding, access to high-level professional networks and top-tier talent represents another critical hurdle. Dr. Spina pointed out that senior-level hiring often relies on established connections, which can be less accessible to women. However, she noted that research shows women tend to cultivate smaller but deeper, less transactional networks. This quality makes community-driven networking particularly effective, as it prioritizes providing value first. Faced with closed doors, Dr. Spina offered a powerful suggestion to female entrepreneurs: “Why not build your own door?” This mindset is crucial for creating new opportunities and pathways to success, a vision that the UAE’s ecosystem actively supports.

About Global Entrepreneurship Monitor

The Global Entrepreneurship Monitor (GEM) is a consortium of academic and research institutions that carries out survey-based research on entrepreneurship and entrepreneurship ecosystems around the world. Initiated in 1999, GEM is the largest single study of entrepreneurial activity in the world, providing comprehensive data and analysis to inform policy, academic research, and public awareness.

Source: Khaleej Times