Emirates News Agency – 1,200 beginners from 33 countries take part in the Startup Leap competition under the umbrella of the “Hometown of Entrepreneurship”

“Economics” announces the results of the final stage of the competition by selecting 20 companies from 8 countries.

Al Falasi: – Thanks to the vision of wise leadership, the UAE is a preferred destination for start-ups and entrepreneurial projects in the region and the world.

Efforts continue to make the UAE the first home for entrepreneurship in the world.

The competition reflects the interest of the leading companies in the region and the world to work and expand from the Emirates.

Providing incentives and enablers for innovative projects is a major focus of the country’s economic work, in line with the fifty principles.

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The winners receive incentives and benefits to move and work from the UAE, including: residence visas, office space, technical training, media support, business development services, exemption from labor visa costs, financing and loan facilities.

The 20 nominated companies have received extensive training in collaboration with leading international companies in the fields of venture capital, angel investor, resource alignment, alternative plans and digital marketing.

– 3 final winners will be chosen by a jury chaired by His Excellency Dr. Ahmed Belhoul Al Falasi, with the membership of investors and representatives of leading companies in the business sector.

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ABU DHABI, 25 April / WAM / His Excellency Dr. Ahmed bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, confirmed that the UAE has succeeded, thanks to the vision and support of its wise leadership, in strengthening its position as a preferred destination for innovative and groundbreaking start-ups and small and medium enterprises in the region and the world. And that the state continues to develop its economic system to be the first home for entrepreneurship and to lead leading projects of various world markets according to a clear vision and integrated strategies derived from the goals and principles of fifty.

This came in the context of the Ministry of Economy’s announcement of the results of the final phase of the Startup Leap competition, which was announced last November 2021 within the framework of the “Startup in the UAE” program under the umbrella of The Home of Entrepreneurship, the largest and first national project of its kind to develop the entrepreneurship system It aims to attract successful and innovative pioneering projects through a comprehensive portal providing an integrated set of solutions, opportunities, incentives and offers initiatives based on the largest partnership of its kind between the public and private sectors.

The competition, which is specifically aimed at regional and global start-ups that want to work and expand in the UAE, attracted more than 1,200 companies from 33 countries from around the world to take part in the competition and get the opportunity to benefit. to draw from the incentive package that the competition provides to the participants and winners.

His Excellency Dr. Ahmed Belhoul Al Falasi explained: “The results of the competition clearly reflect the great interest of emerging companies and projects with pioneering work and innovative ideas from various regional and international markets to move to the UAE to work from there. make and expand. to the markets of the region and the world. National efforts continue to offer all the possibilities that It consolidates the UAE’s position as a destination for companies, innovative projects and entrepreneurs to reach the stage of commercial success and growth and their aspirations of the land of the UAE in various vital and future sectors, as this trend represents an important axis in the vision of wise leadership and one of the priorities of economic work during the coming period.

The Ministry in turn explained that the competition has experienced a number of stages since its launch. In the first phase, 36 initial candidates were selected from the 1200 applicants according to specific criteria, while during the second phase, 20 candidates for the final phase were selected by the Ministry, and they are 20 companies from 8 countries, including the UAE, Egypt, Jordan, Sudan, Tunisia, Morocco, the United Kingdom and the United States of America, which are companies operating in a number of areas. of the new and future economy, of which the most important are digital technologies, modern agricultural technology, advanced educational technologies, clean and renewable energy, green technology, e-commerce and healthcare health and financial technology.

The 20 candidates will have the opportunity for intensive training in collaboration with leading global companies in a number of areas of empowerment that improve the performance of beginners and SMEs, such as understanding venture capital, aligning resources with the requirements of co-founders, alternatives develop plans, and use digital marketing to accelerate growth.

The final stage will be the final presentations of the 20 companies to a jury chaired by His Excellency Dr. Ahmed Belhoul Al Falasi, with the membership of representatives of leading companies in the business sector, watched to select 3 final winners from the 20 candidates.

The ministry added that the set of incentives and benefits that the three winning companies will receive, in addition to the final companies nominated by the jury, include the following: gold residence visas for founders, office space, training and supervision at the highest level, media support and branding, business development services, and cost exemption Staff and employment visas and related costs, facilities for obtaining financing and loans.

The mechanism for selecting participants included a number of criteria, the most important of which are: that an institution or company is legally registered, that the start-up company makes real profits, that the administrative team or the founding team consists of at least two. individuals, it is preferable that they have obtained pre-financing, that The co-founders are ready to move the company’s headquarters to the UAE, that the company has been in business for at least one year and offers products or services.

In November 2021, the Ministry of Economy launched the “House of Entrepreneurship” project within the framework of the fifty-year economic plan, which provides a comprehensive portal for the development of entrepreneurship and the improvement of the country’s position as the most attractive destination for entrepreneurs and entrepreneurial projects around the world, and aims to consolidate a culture of entrepreneurship and provide solutions and opportunities. Learning and incentives through 3 main axes including a number of tracks as a first phase, and is based on the largest partnership of its kind between the government and the private sector, and contributes to achieving a qualitative leap in the system which supports the prosperity of entrepreneurs and companies in a way that supports the goals of the new economy in the country, and these axes are: The Academy for Building Entrepreneurship Skills, SkillUp, aims to provide the entrepreneur with the required skills in the world of entrepreneurship and the methodology to apply it successfully on the ground.StartUp aims to achieve success stories and help entrepreneurs start their journey in the world of beginners, and a platform to support quickly – Growing Companies ScaleUp: It aims to support qualified companies to enable them to expand and expand the category of large and billion companies in the t to achieve future. For more information on the competition, please visit the Home of Entrepreneurship website at https://theentrepreneurialnation.com/startup/#LEAP

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