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UAE aims for 20 $1 bln startups by 2031: minister

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Al-Araby

The United Arab Emirates aims to become home to 20 startups worth more than $1 billion each, known as ‘unicorns’, in the next decade, its Minister of State for Entrepreneurship and SMEs, Ahmad al-Falasi, said on Wednesday. At the launch of the Entrepreneurial Nation project in Dubai, Falasi said the UAE aimed to do more to solidify its position as a top destination for international investment in the Gulf. It has lately seen increased competition from Saudi Arabia, which has been pushing foreign firms and startups to invest there and set up regional headquarters in Riyadh. “When it comes to en…

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