DUBAI, UAE, December 18, 2023 /24-7PressRelease/ — Future 100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office in the UAE, has unveiled the 100 companies featured in its 2023 list.
These companies successfully passed the evaluation process and met the required criteria. The list comprises the top 100 emerging companies contributing to enhancing the competitiveness of the future economy’s sectors.
The Minister of Economy, Abdulla bin Touq Al Marri, emphasised that the Future 100 initiative continues to play its role in consolidating the UAE’s position as a preferred destination for future economy companies and new economy projects, especially those related to advanced technology, innovation, and the knowledge economy, in line with the objectives of the “We the UAE 2031” vision.
H.E. Bin Touq said:”In the UAE, based on the vision and directives of our wise leadership, we believe that the private sector is a strategic and key partner of the government in development, and we are keen to empower and enhance its contribution on an ongoing basis. We are proud of the support we provide today to the best 100 companies of the future through this initiative. It confirms our national approach to building sustainable partnerships with the private sector, and reflects the extent of the government’s commitment to providing the best incubating environment for global talent.”
He pointed out that 70% of the companies that applied for the initiative are startups, while 30% are in the expansion stage, which reflects the importance of the initiative in highlighting the diverse activities and promising prospects of these companies.
The Minister of Government Development and the Future, Ohood bint Khalfan Al Roumi, underscored that these companies possess substantial potential for both global and local growth within emerging sectors, thereby fortifying the UAE’s readiness for the future.
She highlighted, “Future 100 has uncovered numerous startups and scaleup venturing into new sectors, receiving over a thousand applications from various targeted sectors over three months. The initiative provides a robust impetus to expedite the performance of new and future sectors in alignment with the vision of ‘We the UAE 2031’ and the Economic Principles for the UAE, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to construct the most dynamic and competitive economy and achieve proactiveness in the sectors of the future. This, in turn, creates novel opportunities for emerging companies operating in new sectors.”
H.E Ohood Al Roumi thanked the partners of the “Future 100” initiative, noting their important role in providing unique support and benefits to the winning companies.
24% of the companies featured on the Future 100 list specialise in the fintech sector, 17% in sustainability and the environment, 17% in the technology, artificial intelligence, web3, cybersecurity and e-commerce, 11% in Healthtech, 10% for renewable energy, creative industries, biotechnology and advanced industries, 6% in Intelligent Mobility, 5% in space and Edutech, Agritech each.
The initiative fostered strategic partnerships, including Majra- National CSR Fund, and acceleration partners such as the Abu Dhabi Department of Economic Development, Emirates NBD, Dubai Future District Fund, Mohammed bin Rashid Innovation Fund, Microsoft, Careem, and FTI Consulting. In the community partners category, entities like Sharjah Research, Technology and Innovation Park, Dubai Technology Entrepreneur Campus, Ajman Chamber, Ras Al Khaimah Economic Zone (RAKEZ), Sharjah Entrepreneurship Centre (Sheraa), Hub71, Abu Dhabi SME Hub, Mashreq Bank, Sandooq Al Watan, Khalifa Fund, Middle East VC Association (MEVCA), MEVP, VentureSouq, Astrolabs, Flat6Labs, North Star, and the Greenhouse – Chalhoub Group, Entrepreneur Middle East played pivotal roles.
The companies listed in “Future 100” will participate in the Investopia summit to identify new investment opportunities, drive growth and incubate future economies globally.
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