In a significant step towards bolstering the startup ecosystem, Abdullah bin Touq Al Marri, Minister of Economy and Tourism, participated in the 2026 Middle East and Africa Innovation Summit, organised by Schneider Electric at the Abu Dhabi National Exhibition Centre (ADNEC). The event attracted approximately 2,500 government officials, decision-makers, sector leaders, and strategic partners from both the public and private sectors. A highlight of the summit was the signing of a Memorandum of Understanding (MoU) between the Ministry of Economy and Tourism and Schneider Electric to launch “The Nest Business Accelerator,” a new regional initiative aimed at supporting startups developing innovative technologies and solutions in energy, industrial automation, and artificial intelligence.
Fostering Global Competitiveness
Minister Al Marri emphasised the UAE’s commitment to fostering a comprehensive legislative and regulatory framework conducive to the growth and prosperity of new economic sectors and future industries. He stated, “The UAE, guided by its wise leadership, is dedicated to enhancing economic diversification and reinforcing the country’s competitiveness on global indices. This aligns with our ability to adapt to the rapid transformations of the global economy and attract quality investments, particularly in innovative and technology-driven sectors, in line with the UAE Vision 2031.”
He further noted, “Hosting this distinguished event in the UAE reflects the growing international confidence in our status as a global hub for entrepreneurship, innovation, and technology. The UAE plays a crucial role in facilitating dialogue and collaboration between governments and the private sector to envision the future of vital sectors while exploring solutions and technologies that can enhance economic efficiency and competitiveness. It’s worth noting that more than 95% of the UAE’s business landscape comprises small and medium-sized enterprises.”
Enhancing Startup Opportunities
The launch of “The Nest Business Accelerator” program in collaboration with Schneider Electric is seen as a promising advance for entrepreneurs and technology-driven startups. Al Marri expressed that the initiative will enable entrepreneurs to move from ideation to application, expansion, and market access. He added, “This program will enhance collaboration and the sharing of best practices between the government and private sectors, thereby boosting the contribution of entrepreneurship and SMEs to the national GDP.”
During the summit, Minister Al Marri also shared the UAE’s efforts to enhance the competitiveness of its entrepreneurial environment and intellectual property landscape. Notable initiatives include the launch of the first sustainability innovation hub, a green intellectual property pathway, offering 100% foreign ownership of businesses across over 2,000 economic activities, along with free economic zones and industrial clusters that support entrepreneurial growth and facilitate expeditious company establishment procedures. Additionally, he mentioned the Golden Visa scheme for entrepreneurs and talents, allowing residency for up to ten years.
A Comprehensive Ecosystem for Innovation
Waleed Shata, President of Schneider Electric for the Middle East and Africa, remarked, “The UAE serves as a global model in leveraging technology and innovation to build a more resilient and sustainable economy. It provides a comprehensive ecosystem that enables startups to develop their solutions and transform them into scalable applications for regional and global markets. The organisation of the Innovation Summit in Abu Dhabi reflects our confidence in the UAE as a global leader in future industries and a platform that brings together business sectors and innovators to accelerate the transformation in energy, industry, and artificial intelligence.”
Shata further stated, “Our collaboration with the Ministry of Economy and Tourism to launch ‘The Nest Business Accelerator’ epitomises our commitment to supporting a new generation of companies that develop innovative solutions to pressing economic and environmental challenges. By combining technological expertise, specialised mentorship, and access to a vast array of partners and markets, we aim to empower companies to accelerate their growth and enhance their impact while contributing to the development of smarter, more efficient, and sustainable energy and industrial systems in the UAE and the region.”