UAE announces long-term visas for best 100 Arab start-ups
Abu Dhabi: The UAE Government has announced it will be granting long-term visas to the top 100 start-ups shaping the fourth industrial revolution. The 100 Arab start-ups were selected at the World Economic Forum on the Middle East and North Africa, held in Jordan between April 6-7. The forum witnessed for the first time the coming together of 100 emerging companies from the Arab region, which are working to shape the future of the Fourth Industrial Revolution.
The announcement of the five-year visas was made during the participation of Abdullah Bin Touq, Secretary General of the UAE Cabinet, and Khalfan Juma Belhoul, CEO of Dubai Future Foundation, in a key session titled "Arab Start-ups: Reaching Velocity".
This collaboration with the World Economic Forum to grant long-term visas to the top 100 Arab start-ups reflects our commitment to facilitate businesses, create an attractive and encouraging environment for growth, and underline the UAE's position as a global destination for talents. - Abdullah Bin Touq, Secretary General of the UAE Cabinet
"The UAE is a global incubator for emerging innovations. Our innovation-friendly legislative structure is essential for start-up companies," said Bin Touq.
"This collaboration with the World Economic Forum to grant long-term visas to the top 100 Arab start-ups reflects our commitment to facilitate businesses, create an attractive and encouraging environment for growth, and underline the UAE's position as a global destination for talents," he concluded.
The start-ups will also have a chance to team up with "Area 2071" which serves as a gateway and a platform to design the future, through encouraging creativity, fostering talents as well as attracting local and global partnerships.
What does it mean?
"This initiative reaffirms UAE's commitment to build global partnerships between the government and the private sectors to promote future technologies and the exchange of global experiences and innovations in order to employ the Fourth Industrial Revolution technologies in future cities," said CEO of Dubai Future Foundation.
According to World Economic Forum's latest report, 20 per cent of Arab world's 100 most promising startups are based in the UAE. The UAE is home to 19 best start-ups that will likely shape the Fourth Industrial Revolution.
The UAE Government highlighted during its participation at the WEF-MENA the recently inaugurated RegLab, the largest laboratory to anticipate and develop future laws governing the use and application of technology. The lab aims to create a reliable and transparent legislative environment, introduce new or develop existing legislation, regulate advanced technology products and applications and, by providing a secure legislative environment encourage investment in future sectors.