Amazon currently displays 50,000 local and international retailers on the Amazon.ae arm of its website but intends to double this figure by 2026, spotlighting 100,000 small and medium businesses while offering training and qualifications to help launch applications on digital platforms.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, applauded Amazon’s announcement, which fits well with the UAE’s plans for digital economy expansion.
“Dubai has positioned itself as a thriving center for the digital economy [and] I welcome Amazon’s plans to showcase 100,000 businesses, including local SMEs, on Amazon.ae by 2026,” said Sheikh Hamdan on Twitter.
The initiative would give Emirati companies a global platform, aligning with the Dubai Economic Agenda D33 aim to double the size of the economy over the next ten years, transforming Dubai into one of the world’s top three global cities.
Amazon’s announcement will offer UAE entrepreneurs a broader reach to worldwide markets, putting their products in front of 300 million customers. Business owners will also be able to outsource fulfillment to Amazon, alleviating any potential shipping headaches.
Abu Dhabi’s Hub71 To Help Climate Technology Startups
The initiative was announced at the COP28 summit and will help selected startups with a $200,000 cash injection and further incentives.
Hub71, Abu Dhabi’s global technology system, has launched a new initiative to support climate technology startups backed by several of the UAE’s largest public and private sector organizations.
A total of 342 startups have submitted applications so far, with the top companies being added to a shortlist that will be revealed shortly. Selected startups will receive Dh250,000 ($68,000) in incentives and an upfront cash support package of Dh250,000. In addition, the top performers of Hub71’s new initiative will also receive a top-up of up to Dh250,000 in exchange for additional equity.
Ahmad Alwan, deputy chief executive of Hub71, said: “This initiative aims to bring in different entities that have a shared mission towards climate tech […] Throughout the journey, we will support these companies, not only from being startups to becoming mature companies but also to facilitate their engagement with entities that would support them with access to capital, market, and talent”.
The Hub71+ ClimateTech ecosystem is backed by the Abu Dhabi National Energy Company and the National Central Cooling Company, who have each pledged Dh500,000 to the initiative as anchor partners.
They are joined by corporate partners, including Abu Dhabi holding company ADQ, Aldar Properties, sovereign wealth fund Mubadala, First Abu Dhabi Bank, Masdar City, and Dubai’s Emirates NBD. In addition, Siemens Energy is also onboard as an anchor partner.
So far, Hub71 has helped 260 member startups and created over 1,000 jobs, according to the organization’s website. In addition, it has collectively raised around Dh5 billion since its foundation in 2019.