The Rainmakers: The UAE’s startup stars

Startups are often referred to as the ‘growth engines’ for any economy. In the UAE, backed by a supportive regulatory framework that welcomes innovation at every stage, entrepreneurs from across an eclectic mix of sectors have achieved remarkable growth, in turn feeding the booming ecosystem to create a train of success stories.

According to official stats, the wider SME sector contributed an estimated 53 per cent to the UAE’s GDP in 2019, up from about 49 per cent in 2018. Small-and-medium-sized businesses also accounted for approximately 95 per cent of the companies in the country and for employing 86 per cent of the total workforce in the non-oil private sector.

While challenges persist – whether it’s setup costs, financing, scaling or external factors such as the Covid-19 crisis which struck every industry hard, several startups in the UAE have managed to stay the course, assisted by mentors and business enablers.

To highlight the true stars within the startup ecosystem, Gulf Business, in collaboration with leading company formation specialists Virtuzone, put together the names of the movers and shakers within the space – whether it’s company founders, venture capitalists, government officials or mentors.

By no means is this list exhaustive, but it provides a glimpse into the people powering the startup space and driving the UAE’s agenda to be a global startup hub.

Names arranged in no specific order

FOUNDERS

 

 

INVESTORS

 

ENABLERS

 

Ones to watch