Dubai, UAE, 9 December 2023: Future 100, a collaborative initiative between the
Ministry of Economy and the Government Development and the Future Office, 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 announcement unfolded during a ceremony held at the Museum of the Future.
The event was attended by HE Abdullah bin Touq Al Marri, Minister of Economy, HE
Ohood Khalfan Al Roumi, Minister of State for Government Development and the
Future, alongside senior officials from the winning companies.
H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized 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.
In his speech during the ceremony, H.E. said: “We congratulate the 100 companies
that successfully made it to the final stage of the initiative’s first edition to become
the best 100 companies of the future, possessing pioneering capabilities for growth
and healthy competition. We believe that this is a turning point which will enable these companies to achieve more sustainable commercial success and access to
regional and global markets.”
“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 partnership with the private sector, and reflects the extent of
the government’s commitment to providing the best incubating environment for
global talent and creative youth, celebrating them, supporting their pioneering
projects, and creating an attractive climate for promising businesses in various fields,
especially in the future and the new economy sectors,” H.E. Bin Touq added.
H.E. explained that the companies that applied to be selected for the first cohort of
the initiative came from a wide range of new economy sectors such as FinTech,
sustainability, creative industries, health technology, educational technology,
AgriTech, space, and renewable energy – sectors that support the UAE’s transition
towards the new economic model, which is based on flexibility and innovation.
H.E. Bin Touq 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. It serves as an example encouraging various enterprises in the country
to benefit from this initiative, its development tools and strategies to keep pace
with future trends on an ongoing basis.
HE Ohood Khalfan Al Roumi, Minister of Government Development and the
Future, congratulated the companies showcased in Future 100 across diverse new
sectors. She 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 UAE, launched by HH Sheikh
Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE
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.”
HE Al Roumi emphasized that the Future 100 initiative is steadfastly advancing,
aiming to solidify the UAE’s standing as a premier hub for new economy companies.
It is dedicated to cultivating an inspiring environment conducive to the growth and
prosperity of these enterprises, crafting success stories in the economy of the future,
and facilitating the global scale of new economy companies. Her Excellency 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.
More than 45 evaluators and experts from various sectors assessed the applications
and conducted interviews with company officials based on a set of criteria. These
criteria included the ability to innovate in business models leveraging new
technologies, the potential of the target market, the ability to reach key customers
according to a specific business plan with clear financial data, business feasibility
including a strategy for securing future financing, and the impact of environmental
and social governance in the UAE and globally.
The initiative attracted applications from a diverse array of new economic sectors,
including space, biotechnology, advanced industries, agritech, renewable energy,
creative industries, sustainability, healthtech, cybersecurity, intelligent mobility,
fintech, edutech, sharing economy, robotics, web 3, e-commerce, IoT, blockchain,
the on-demand economy, improved services based on artificial intelligence, and 3D
printing.
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.
These partnerships offer a myriad of incentives and resources, including the
possibility of investing in companies that make it to the Future 100 list, support for
accelerating innovation and digital transformation, technical and legal assistance,
competitive financing solutions, and workshops on intellectual property rights and
trademark protection. Additionally, Microsoft for Startup Founders Hub will offer
cutting-edge artificial intelligence services and expert guidance to foster innovation
and sustainable growth among start-ups. The companies listed in “Future 100 will participate in Investopia summit, a global platform connecting investors, business leaders & governments to identify new investment opportunities, drive growth and incubate future economies globally.
The initiative is dedicated to supporting new economic sectors that will shape the
UAE’s future economy, with a particular focus on the country’s burgeoning startup
sector. The development and enhancement of the startup sector’s contribution to
the national economy are key goals on the UAE government’s agenda. The initiative
celebrates the successes of the private sector in the country, recognising the best 100 emerging companies that significantly contribute to enhancing the
competitiveness of the country’s future economic sectors.