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Emirates Development Bank (EDB), the financial engine of the UAE’s economic diversification efforts, launched a series of financing solutions and support initiatives for startups and mSMEs, as part of “The Emirates: Startup Capital of the World” national campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to strengthen the UAE’s position as a leading global hub for entrepreneurship.
A comprehensive suite of programmes and initiatives aim to empower Emirati youth ventures, stimulate innovation and contribute to the diversification of national economy. The campaign is designed to accelerate entrepreneurship across all seven emirates by providing founders with faster access to financing, digital onboarding tools, mentorship programmes and accelerator pathways. Through EDB 360, the Bank’s digital platform, entrepreneurs will be able to open business accounts in minutes, apply for financing without traditional collateral barriers and connect with ecosystem partners who can support them in launching or scaling their businesses. Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank, said, “Founders do not need inspiration, they need access. This campaign is about removing bottlenecks. Whether it is opening a bank account, securing working capital or finding the right partner to enter the market, we are making the process faster, clearer and more inclusive.
The UAE already has the ambition to be the Startup Capital of the World. Our role is to turn that ambition into activation, one entrepreneur, one business, one success story at a time.” As part of the rollout, EDB will issue follow-on announcements detailing AED500 million in financing solutions available through credit guarantees, co-lending programmes and receivables-based support via fintech partners. Additional tracks of the campaign will include non-financial enablement programmes for 500 entrepreneurs, as well as accelerator access in collaboration with national programmes such as AgriX, MIITE and MBRIF. The campaign reinforces EDB’s commitment to serve not only as a financier of businesses, but as an active builder of entrepreneurs, aligned with the UAE’s national vision to become the Startup Capital of the World.