UAE Aims 2 Million Companies and 10 Unicorns by 2031

The United Arab Emirates (UAE) is taking bold steps to become the world’s hub for business and startups. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, recently announced a major plan to support entrepreneurship. The goal is to reach 2 million registered companies and create 10 unicorns—startups worth over one billion dollars—by 2031.

This move is part of a larger effort to strengthen the UAE’s global position as a top destination for business and innovation.

“World’s Capital of Entrepreneurs” Campaign

The UAE has launched a nationwide campaign called “World’s Capital of Entrepreneurs”. Its aim is to provide a supportive environment for entrepreneurs to grow their businesses and reach international markets.

Abdullah bin Touq Al Marri, Minister of Economy and Tourism, highlighted the key role startups and small businesses play in driving the economy. He said the UAE currently has more than 1.2 million companies, and around 94% are owned by entrepreneurs.

Small and medium-sized enterprises (SMEs) are especially important, making up 63.5% of non-oil GDP and representing 95% of all companies in the country. This shows how vital startups are for the UAE’s economic growth.

Building More Unicorns

The UAE is already home to five unicorns, and the government wants to see 10 more emerge by 2031. These billion-dollar startups will not only create jobs but also encourage innovation and attract international investment.

The campaign aims to make it easier for entrepreneurs to start and grow their businesses. By providing support, funding, and mentorship, the UAE hopes more companies will reach high-value status and compete on the global stage.

Strong Support and Infrastructure

To help entrepreneurs succeed, the UAE has put in place strong infrastructure and policies. Some key strategies include:

• Trade and Investment Deals: Through Comprehensive Economic Partnership Agreements (CEPAs), the UAE is opening doors for more international trade and investment opportunities.
• Innovation and Intellectual Property: National strategies protect innovations and creative ideas, encouraging entrepreneurs to develop new products and services.
• Youth Support Programs: Programs like StartupEmirates.ae are designed to train thousands of young people, provide mentorship, and create jobs for the next generation of business leaders.
• Startup Ecosystems: Cities like Abu Dhabi and Dubai provide co-working spaces, funding, and networking opportunities to help startups grow. For example, Hub71 supports more than 260 startups.

These measures ensure that entrepreneurs can focus on growing their businesses without worrying about bureaucracy or lack of support.

Global Recognition and UAE Vision 2031

The UAE’s efforts are part of the We the UAE 2031 vision. The plan is to become one of the top three countries in the Global Entrepreneurship Index.

This strategy will attract global talent, investors, and business leaders, strengthening the UAE’s position as a preferred destination for entrepreneurship and innovation. By combining strong policies with modern infrastructure, the UAE is creating an environment where businesses can thrive locally and internationally.

Why This Matters

This ambitious plan is more than just numbers. Reaching 2 million companies and 10 unicorns will:

• Drive economic growth beyond oil revenues
• Encourage innovation and creativity in business
• Generate employment opportunities for young people
• Position the UAE as a global hub for entrepreneurship

With these strategies, the UAE is not just aiming to increase the number of companies—it is building a sustainable and competitive ecosystem for future entrepreneurs.