Abu Dhabi is experiencing a remarkable surge in youth entrepreneurship, with a 97.8% increase in youth-led businesses registered between 2023 and 2024. This growth is a key part of the emirate’s strategy to become a global hub for innovation and technology. The number of young members (ages 18-35) in the Abu Dhabi Chamber of Commerce and Industry now exceeds 21,240, with a combined capital of more than Dh14.9 billion.
What’s Driving the Surge?
This significant growth is supported by several factors that have made Abu Dhabi a fertile ground for young entrepreneurs:
- Diverse and Inclusive Ecosystem: The youth-led businesses are almost evenly split between Emiratis (49%) and expatriates (51%), demonstrating the emirate’s ability to attract global talent.
- Government Support and Financial Incentives: Initiatives like Hub71, a tech ecosystem that has attracted over 315 startups and Dh5.4 billion in funding, provide young founders with subsidized housing, mentorship, and access to investors. The Abu Dhabi Youth Business Council also offers free consultancy and assistance with commercial licensing.
- Pro-Business Reforms: Recent changes in company laws, more flexible visa policies for entrepreneurs, and reduced costs for setting up a business have played a crucial role in attracting young innovators.