28 March 2024, Abu Dhabi, UAE: The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of a working group for startups and small and medium-sized Enterprises (SMEs), which will represent the interests of startups and SMEs registered in Abu Dhabi. This is a strategic step that seeks to achieve the Abu Dhabi Chamber’s vision of making the Emirate the first choice for doing business in the Middle East and North Africa (MENA) region by 2025.
The Startups and SMEs Working Group will operate under the umbrella of ADCCI and is dedicated to empowering businesses, increasing their role in the economic development of Abu Dhabi. Through partnership with government agencies and the private sector, the working group aims to find solutions to the challenges facing the sector’s enterprises, foster innovation, and drive economic diversification, ensuring sustained growth and development.
The working group endeavors to establish a business environment that supports the growth and development of enterprises in this sector considering their role in providing job opportunities for more than 46% of the Emirate’s workforce, while contributing to 42.8% of Abu Dhabi's non-oil GDP. The group’s efforts will focus closely on monitoring the needs and requirements of startups and SMEs, helping them to navigate market dynamics and fortify their role as a key pillar for building a diversified and sustainable economy.
His Excellency Fouad Darwish, Board Member of ADCCI and Chairman of the Startups and SMEs Working Group, said: “The Startups and SMEs Working Group will be responsible for developing plans and proposing policies, which will seamlessly attract representatives from these enterprises to enter into promising sectors, particularly modern technology sectors experiencing significant local and global advancements. Additionally, the Group will spearhead numerous programs, initiatives, and activities tailored to furnish startups and SMEs with the necessary guidance and skills as well as coordinate with various parties to provide a platform that enhances cooperation and the exchange of experiences, ideas and opportunities that support the growth of startups and SMEs.”
His Excellency Ahmed Khalifa Al Qubaisi, CEO of ADCCI, said: “The establishment of the Startups and SMEs Working Group marks a significant stride in fortifying the growth trajectory of this crucial sector. Over the past years, it has experienced a qualitative leap that is attributed to the collaborative efforts of ADCCI and government entities in the Emirate, fostering an enabling environment conducive for the growth of these enterprises. Such initiatives aim to accelerate their role as pivotal contributors to economic advancement, aligning with Abu Dhabi’s vision and the goals outlined for the next fifty years.”
“The Startups and SMEs Working Group will also provide an ideal platform to accelerate the growth of startups and SMEs and further develop their capabilities. This will be achieved by formulating strategic plans and policies, coupled with implementing the necessary measures to develop and foster a conducive environment for knowledge-exchange and experience sharing. Such efforts will empower startups and SMEs to develop innovative business models that enhance the processes of expanding the scope of their activities and diversifying their investments in promising sectors thereby fostering a competitive economy,” His Excellency added.
The sectoral working groups aim to build bridges of communication between government entities and the private sector, playing a crucial role in attracting investors and fostering sustainable economic development in Abu Dhabi.
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