A champion of business helping to shape the UAE's entrepreneurial vision for the future has called on citizens to "think bigger" to help drive the nation's economic growth for generations to come.
Alia Al Mazrouei, appointed Minister of State for Entrepreneurship in July, has set out an ambitious road map for progress in which enterprising Emiratis think beyond "cupcake shops or coffee businesses" to make their mark in boardrooms all over the globe.
The minister, who herself has a wealth of experience in building companies from the ground up, also heads the Emirates Entrepreneurship Council. The council, announced at the final UAE Cabinet meeting of the year this month, will provide a Dh300 million ($81.6 million) fund to encourage more young people to enter the business world.
In an exclusive interview with The National, Ms Al Mazrouei outlined the government's efforts to unlock the potential of the leaders of tomorrow and to further expand the country's growing business network.
Passion project
“Entrepreneurship in the UAE is a broad and inclusive concept,” said Ms Al Mazrouei. “It’s not confined to one definition, it encompasses everything. Whether you’re in agriculture, technology, or creative industries, you’re an entrepreneur. And it always starts with passion.”
According to the Ministry of Economy, small and medium enterprises (SMEs) account for about 94 per cent of companies in the UAE and employ 86 per cent of the national workforce.
The UAE not only wants to develop its own entrepreneurs but remains committed to attracting the brightest and best business minds from around the world to invest in the country.
Ms Al Mazrouei credited the UAE’s strong entrepreneurial environment to its promotion of various Comprehensive Economic Partnership Agreements (Cepa) and bilateral trade deals, which have provided access to global markets. “The UAE is an entrepreneurship hub,” she said proudly. “With the policies, regulations and incentives we’ve put in place, it’s no surprise that so many entrepreneurs are drawn here.”
The minister has been eager to get down to business since her appointment and is overseeing a number of initiatives aiming at driving economic development.
Among these is the Future 100 programme, launched last year, which nurtures entrepreneurs across various sectors. The national strategy has a sharp focus on Emirati entrepreneurs, offering support such as government procurement opportunities, access to markets, participation in exhibitions and international collaborations.
Another key scheme is Investopia, which connects private sector businesses globally and promotes trade through roadshows.
Ms Al Mazrouei said several events were held this year with roadshows planned for 2025 across international markets, including Italy, Cyprus and Hungary.
These events have already fostered valuable partnerships, such as an agreement signed between a Future 100 company and an SME in Chennai, India in July, with similar success in another gathering in Milan.
Under the Ministry of Economy's National Agenda for Entrepreneurship and SMEs, the country aims to be the world's leading entrepreneurial nation by 2031 and be home to 10 unicorn start-ups – private companies with a valuation exceeding $1 billion – by the same year.
Key strategies
For Emiratis with big ideas but limited resources, Ms Al Mazrouei highlighted the availability of local support programmes.
These include Abu Dhabi's Khalifa Fund for Enterprise Development, which last year unveiled a new programme that will provide up to Dh2 million in funding to support Emirati entrepreneurs.
“Our role at the federal level is to align strategies and ensure Emirati entrepreneurs are supported, no matter where they are,” the minister said.
Ms Al Mazrouei highlighted the transformative impact of a move to allow full foreign ownership of onshore companies, which came into force in June 2021.
“After we introduced this policy, the number of business licences issued jumped from 600,000 to 1 million,” she noted.
She also observed a shift in mindset among Emiratis, particularly younger generations. “There’s been a huge increase in interest in sectors like deep tech, AgriTech and EdTech. University incubators are full of Emiratis eager to start their own businesses, even while they’re still studying.”
Educating future generations
Cultivating a flourishing business environment is no easy task, with the minister believing the work must start at schools and universities in the UAE if more of the population are to swap the relative security of being a salaried employee to taking on the risk and reward of being their own boss.
“How can we encourage Emiratis to transition from working in the public sector to becoming entrepreneurs? It starts in schools and universities,” she said.
“Instead of focusing on cupcake shops or coffee businesses, we want them to think bigger – about international partnerships and full-fledged businesses.”
Ms Al Mazrouei’s personal entrepreneurial journey serves as an example to others of what can be achieved. She launched her first business in 2006, growing it from a small idea into a venture that expanded across the UAE and internationally.
“Most of my businesses came from finding gaps or solving problems I encountered myself,” she said.
In 2013, she founded Little Haven Nursery to address the need for longer childcare hours for working mothers like herself. She later ventured into food and beverage by launching mobile food trucks and even started a company designing mobile trucks for hotels and retail. Most recently, she entered the fitness industry, opening her first gym.
'Don't be afraid to fail'
For aspiring entrepreneurs, Ms Al Mazrouei shared practical advice. “Start with passion. Understand your numbers. Build your network. And if you face challenges, don’t be afraid to ask for help."
“Failure isn’t the end, it’s an opportunity to learn. But if your business is still losing money after two years, it’s OK to shut it down and move on.”
Entrepreneurship in the UAE is not without challenges. According to a study conducted internally using a wealth of historical data, only 40 per cent of businesses in the UAE survive beyond five years.
To tackle this, the minister and her team have introduced several initiatives, including the Riyada national brand, a unified platform for licensing and financing, and the Dh300 million Riyada Fund, dedicated to support young Emiratis interested to embark into entrepreneurship.
Other efforts include a unified entrepreneurship committee to align local and federal strategies and the Youth Entrepreneurship Council, which provides a voice for young business leaders.
Ms Al Mazrouei believes the UAE remains a land of opportunity for those prepared to invest in their goals.
“The UAE is full of opportunities. With the right policies, ease of doing business, and access to markets, entrepreneurs here have everything they need to succeed," she said. "You may come here planning to stay for just a few years, but most people end up building their lives and businesses here.”
Her closing advice to entrepreneurs? “See the opportunity. Start something with passion, not just to make money. Build something you believe in and don’t be afraid to fail. That’s how you grow.”
