As per the words of the Senior Manager of Entrepreneurship as well as special projects, Natalia Sycheva: “up to 50% of the initial thought concept start-ups within the Dubai based Start-Up Hub projects are comprising the females. The Women power are at present are thriving hard to break upon via the maximum threshold within the corporate global prospect as they have become self-independent and took the matters within their own hands for sprinting in to the top upsurging via their indomitable entrepreneurial spirit.”
Sycheva stated that numerous women are looking out in order to chart in their own path rather than taking the much tougher approach of scaling up the corporate hierarchical order.
She also further added that: “Let’s step back and think about what opportunities are available for females in the 21st century? You could pursue a corporate career, a government career, or you could pursue entrepreneurship as a path. If you think about a corporate career, let’s look at the numbers, according to the S&P500 Index, the number of female CEOs leading those companies has doubled over the past ten years and today it stands at 37, which is just six percent of the whole companies there; six percent of women get to the top, to lead, in the corporate world.”
“As per what really has been witnessed during the recent past and the prevailing within the Entrepreneurship ecosystem, in UAE territory, the overall numbers of female entrepreneurs can surge up to 50 percent as majority start-ups as well as enterprises are gearing up forward to have the female co-founders.”
On the occasion of International Women’s Day, this initiative that comprises of an integral part of Dubai Chamber, that has been in the existence in the Emirate ever since its initial foundation days during 2016, as well as served via their programmes, in excess of 8,000 entrepreneurs as well as founders is touted as the most successful entrepreneur based programmes in entire Middle East territory.
Dubai, as the spearheading start-hub within the MENA (Middle East as well as North Africa), it lingers on to build up a luring incentives for trades like: –
• For the expat investors, a golden card permanent residency procedure to be under implementation soon.
• All lead Entrepreneurs to be offered up a Five-Year Visa plan.
• An exclusive program enabling overseas remote working authorities to be within Dubai, while enduring to serve their owners within their home nation.
The SMEs stack up the majority of the businesses and act as the core lifeline via its robust foundation for any nation’s economic standards, and therefore, in turn build up a vibrant space for a developed economy as they makes up for 99 percent of private owned firms in Dubai and churns out a humongous contribution worth 46 percent of Emirate’s GDP as well as 53 percent of UAEs GDP during 2019. Within the year 2021, the UAEs federal government’s primer objective is to seek an expansion of the latter by 60 percent.
Sycheva further added that: “We’ve had the ease of doing business, which has been pushed and progressively improved by the government and all the stakeholders. And the whole publicity around entrepreneurship as a potential field and technology as an enabler, allowed the females to look at entrepreneurship as the new path to realise their business ambition, leadership ambition and this is what we see in the end, up to 50 percent of the early idea stage start-ups in the programmes of Dubai Start-up Hub are females.”
UAE backed start-ups have pooled up $577 million worth within the venture funding with 56 percent of MENA’s overall net worth during the preceding year in 2020, with Dubai backed start-ups projected to account for over half than that figure.
As per the World Bank’s study, that aims for overviewing level of the entrepreneurial aspiration within global women, UAEs overall figure stood at 36.6 percent, that remains one of the most prevalent globally.
Emirati entrepreneur Khawla bin Hammad, founder of Takalam also stated that: “The prevailing circumstances is hugely “very caring” as well as “Empowering”.
She also further added that: “The well-established eco-system, gender equality policies, and women’s empowerment makes it very appealing for female entrepreneurs. There are several government initiatives and programs that are tailored towards women only, giving them easier access to finance, mentorship and market opportunities.”
Sycheva said it was “supreme” that young women had favourites who they can overview up to. She stated further out that: “It’s to inspire a talent to take on this new, stimulating path of entrepreneurship, but also encourage the next generation of entrepreneurship to make an impact, thoughtful about the environment and thinking about the community and thinking about giving back and pulling the next generation of entrepreneurs.”
Females in the UAE require not to look far for rousing figures, such as Sheikha Lubna, who was the initial woman to hold a ministerial post in the nation, serving as Minister of State for Tolerance, Minister of State for International Cooperation, and Minister of Economic and Planning of the UAE; Reem Al Hashimi, who is director general of Expo 2020 Dubai and chairperson of Dubai Cares; Amal Al Qubaisi, the initial female leader of a national assembly in the UAE and the Arab world; and Sarah Al-Amiri, chairperson of the UAE Space Agency and the Emirati Minister of State for Advanced Sciences – while the recent significant, successful Emirates Mars Mission witnessed the women power make up 80 percent of the program’s scientific team.