As per the words of Natalia Sycheva, the Senior Manager of Entrepreneurship as well as special projects, up to 50% of the initial idea start-ups within the Dubai based Start-Up Hub projects are females.
As per her words, the Women power are thriving hard to break upon via the glass ceiling 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.
On the occasion of International Women’s Day, this initiative which forms as an integral part of Dubai Chamber, that has been in the existence within Emirate ever since its initial days during 2016, as well as served via their programmes, in excess of 8,000 entrepreneurs as well as founders.
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 within the recent past, within the Entrepreneurship, in UAE territory, the overall numbers can surge up to 50 percent start-ups as well as enterprises to have the female co-founders.”
Dubai, as the pioneered start-hub within the MENA (Middle East as well as North Africa), it endures to produce luring incentives for trades like
- Golden card permanent residency procedure for the expat investors.
- Five-Year Visa for the Entrepreneurs
- An exclusive program enabling overseas remote working authorities to be within Dubai, while enduring to serve their owners within their home nation.
The SMEs make the majority of the lifeline and robust foundation for any nation’s economic standards, and create a vibrant space for a developed economy as it makes up for 99 percent of private owned firms in Dubai and churns out a huge 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.
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.
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.
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.
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.”