Abu Dhabi Chamber's New Task Force Boosts Startup and SME Growth

In a bid to bolster the growth of startups and small and medium-sized enterprises (SMEs) in Abu Dhabi, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) has unveiled a strategic initiative - the establishment of a dedicated task force. This move underscores the Chamber's commitment to enhancing the business landscape in the Emirate, with a clear vision of positioning Abu Dhabi as the premier business hub in the Middle East and North Africa (MENA) region by 2025.

Operating under the ADCCI umbrella, the Startups and SMEs Task Force is geared towards empowering businesses and amplifying their contribution to Abu Dhabi's economic development. By collaborating with both government agencies and the private sector, the task force is poised to address the challenges faced by startups and SMEs, foster innovation, and drive economic diversification - all crucial elements for ensuring sustained growth.

Startups and SMEs form the backbone of Abu Dhabi's economy, employing over 46% of the Emirate’s workforce and contributing a significant 42.8% to Abu Dhabi's non-oil GDP. To further strengthen their pivotal role, the task force is focused on creating a conducive business environment tailored to their unique needs. Through vigilant monitoring of market dynamics and targeted support, the task force aims to fortify startups and SMEs as key players in building a diversified and sustainable economy.

His Excellency Fouad Darwish, Board Member of ADCCI and Chairman of the Startups and SMEs Task Force, highlighted the group's pivotal role in devising plans and policies to attract enterprises to burgeoning sectors, especially in modern technology. Additionally, the taskforce will spearhead programs and initiatives aimed at equipping startups and SMEs with the requisite guidance and skills, fostering cooperation and knowledge exchange.

ADCCI's CEO, His Excellency Ahmed Khalifa Al Qubaisi, underscored the significance of the task force in driving the growth of startups and SMEs. He emphasized the collaborative efforts between ADCCI and government entities in fostering an enabling environment for their development, in alignment with Abu Dhabi’s long-term vision.

Through strategic planning and policy formulation, the task force aims to expedite the growth of startups and SMEs, creating an environment conducive to knowledge exchange and experience sharing. These endeavors are set to empower enterprises to innovate and diversify their investments, ultimately contributing to a more competitive economy.

Undoubtedly, sectoral task forces such as this play a pivotal role in facilitating communication between government entities and the private sector. By attracting investors and promoting sustainable economic development, the task force is set to play a key role in propelling Abu Dhabi towards its economic goals.

March 29, 2024