The government of the United Arab Emirates has recently announced that it will grant long-term visas for some 100 startup companies operating in the Arab region, which are seen as forces that would kickoff the fourth industrial revolution.
In his speech during the World Economic Forum on the Middle East and North Africa, Abdulla bin Touq, Secretary General of the UAE Cabinet, said that the granting of five-year visas would solidify UAE’s standing as a global incubator for emerging innovations.
“Our innovation-friendly legislative structure is essential for start-up companies,” Abdulla said in a key session titled “Arab Start-ups: Reaching Velocity”.
The official noted that the program, which will be done in collaboration with World Economic Forum, 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.
The 100 Arab start-ups will 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.
At present, UAE is home to 19 best startups, or 20 percent of the Arab world’s 100 most promising new companese.
