The UAE's Ministry of Economy has joined forces with global logistics and shipping company UPS to launch an initiative to support small and medium enterprises and boost their export capabilities.
ScaleUp Export, launched under the Emirates’ Entrepreneurial Nation initiative, will also help SMEs and start-ups enhance their access to the global markets.
“The Ministry of Economy, in partnership with various relevant federal and local government entities and in co-operation with the local and international private sector, is working to provide all possibilities for prosperity of entrepreneurship and rapid growth of SMEs,” Abdulla bin Touq, Minister of Economy, said.
“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, start-ups 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.”
SMEs are the backbone of the UAE economy, with the government introducing economic support packages to help business owners weather the Covid-19 pandemic. The Emirates has also taken steps to create a more attractive environment for foreign investment by easing visa rules, liberating company ownership rules and updating laws.
ScaleUp Export aims to boost SMEs through supportive tools and programmes and a range of targeted local and international partnerships with relevant sectors.
Registered companies can gain access to experts and advisers through the programme. It facilitates technical and legal consultations, as well as special shipping prices.
The programme will also provide training and mentoring opportunities to SMEs and conduct technical workshops to increase their exports to global markets.
Launched last November, the Entrepreneurial Nation initiative intends to offer support through a series of public-private partnerships that help entrepreneurs set up operations in the UAE, expand their businesses, export their products and tap into online sales.
The Emirates aims to become home to 20 unicorns, or start-ups valued at more than $1 billion, by 2031, as part of the programme.
SMEs can access ScaleUp Export benefits by registering here.
SMEs need to meet one or more of the following required standards:
- The company must be active in 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 or machinery parts
- The company must be currently exporting and wanting to increase its exports by activating existing products or expanding its markets and sales channels
- The company must have high export potential
- The company must be exporting weekly or bi-weekly, or have plans to do so.
