Startups and SMEs will now be able to improve the access of their products and services to global markets through a range of supportive tools as part of the UAE Ministry of Economy’s latest initiative.
The Ministry of Economy, in collaboration with UPS, a global logistics and shipping company, launched ‘ScaleUp Export’ initiative under the Entrepreneurial Nation.
The UAE Minister of Economy, Abdullah bin Touq Al Marri, said: “The Ministry of Economy – in partnership with various relevant federal and local government entities and in cooperation with the local and international private sector – is working to provide all possibilities for prosperity of entrepreneurs and the rapid growth of SMEs to enhance their contribution to the growth of the national economy.”
How does the ScaleUp Export programme benefit startups and SMEs?
The ScaleUp Export programme supports the export capacity of UAE startups and SMEs. It also aims at enhancing targeted local and international partnerships with relevant sectors.
Registered companies can gain access to a range of experts and advisers in various sectors through the programme, the state-run news agency, Wam, reported.
It facilitates technical and legal consultations, as well as special shipping prices. The programme also provides training and mentoring opportunities.
Technical workshops are also conducted to help increase their exports to global markets. It also provides mentoring and supervisory programmes, and seminars on export target markets.
How can entrepreneurs, startups, and SMEs register to the programme?
The Ministry of Economy explained that duly licensed and registered SMEs in the UAE can benefit from the programme by registering on the Entrepreneurial Nation website.
SMEs have to meet one or more of the following required standards, which will be verified and examined by both the Ministry and UPS:
– The company must be active in the following sectors: e-commerce, high-tech, or electronics in general.
– The company must be a manufacturer of one of the following goods: clothing, fashion accessories, consumer electronics, mobile phones, spare parts, machinery parts.
– The company must be currently exporting and wants to increase its exports by activating existing products or expanding its markets and sales channels.
– The company must have high export potential, as each case will be evaluated individually.
– The company must export weekly or biweekly or have plans to do so.
The initiative is also in line with the UAE’s ‘Principles of the 50’ to advance the leadership sector and support SMEs, given its role as a key pillar for building a future knowledge- based economy, innovation, diversity, and competitiveness.
Abdullah bin Touq Al Marri added: “The past phase saw the launch of a distinct set of initiatives and programmes under the umbrella of the ‘Entrepreneurial Nation’, which aims to bring about a qualitative shift in the supporting environment for entrepreneurship, startups, and SMEs in the UAE and enhance their attractiveness to entrepreneurial projects from around the world, through a series of partnerships with global institutions and companies in various fields.
“The launch of the ScaleUp Export, in collaboration with UPS, is a continuation and extension of the ‘Entrepreneurial Nation’ initiatives with the aim of supporting its growth and providing the tools and information needed to increase its export volume to foreign markets and develop its business sustainably.”
The programme is designed to support the strategic target of the Entrepreneurial Nation, which aims to create a catalytic environment for the development and incubation of 20 unicorns in the country by 2031.
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