Venture capital funding is an excellent way to attract talented entrepreneurs to Abu Dhabi. Several female technology entrepreneurs across the world are already interested in running a business in the UAE due to the financial resources and scope present in the country.
Female-led startups and businesses are growing exceptionally globally in the entire Gulf region. As per reports, out of 582 million entrepreneurs, 252 million globally are female.
Abu Dhabi needs to know the value of female technology entrepreneurs and how they bring economic value to the country. Furthermore, the aim of the UAE Vision 2021 was to make the UAE one of the best countries worldwide in terms of business. Around 50% of the SMEs in the country are female-led, and they are focusing on achieving the goals of UAE Vision 2021.
The SMEs are UAE’s backbone and comprise around 98% of the entire companies that operate in the UAE. Hence, Abu Dhabi takes certain measures to enhance its economic value and boost entrepreneurship. The metropolis is also supporting female technology entrepreneurs as they have great potential.
There was a 71% reduction in the requirements of starting a business and a 90% slash down in the business setup fees. As per Ms. Bos from the Women of Web3 delegation, supporting female technology entrepreneurs can help boost the capital of the UAE. Furthermore, she suggested that Abu Dhabi could create a fund for female tech founders to create a change.
In 2019, female-led startups only received 3% funding as per HSBC. Hence, more funding could support female-led tech startups and help UAE to attain greater economic value globally.
Venture capital companies focus on large companies and invest there most of the time. However, investing in startups can also attract more benefits in the long term. Nowadays, startups are emerging to be innovative. Furthermore, female technology entrepreneurs break stereotypes and lead to better growth through technology and innovative ideas.
Not only in the UAE, but the entire Gulf is seeing a rise in the benefits that women entrepreneurs bring. A report by Arab news shows how Suadi Arabia has a higher number of women working in the technology sector than Europe.