EDB launches $136M funding to boost entrepreneurship

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Emirates Development Bank (EDB) has announced the launch of new financing solutions worth USD 136 million aimed at supporting startups and micro, small, and medium-sized enterprises (MSMEs) as part of a nationwide campaign to boost entrepreneurship and drive innovation across the UAE.

The initiative is part of the broader campaign, “The Emirates: Startup Capital of the World,” which seeks to foster a robust innovation ecosystem and accelerate the country’s economic diversification through flexible financing tools and comprehensive non-financial support for founders.

The financing package includes credit guarantees, co-lending schemes, and receivables-based funding provided in collaboration with fintech partners. Additionally, non-financial enablement initiatives will target 500 entrepreneurs, offering them access to accelerator programs, mentorship opportunities, and advisory services through national programmes like AgriX, MIITE, and MBRIF.

Through the EDB 360 digital platform, entrepreneurs will be able to open business accounts in minutes, apply for financing without traditional collateral requirements, and connect with ecosystem partners who can help them scale and grow their businesses.

In a related move, the Dubai Department of Economy and Tourism, in partnership with the Dubai Chamber of Digital Economy, launched the “Dubai Entrepreneurs Hub.” The platform aims to consolidate startup support efforts, nurture innovation, and transform 30 startups into global unicorns while expanding the regional and global footprint of 400 SMEs.

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