Salima Gutieva, Vice President and Country Manager for UAE, Visa, stated, “We are thrilled to celebrate International Women’s Day by highlighting the significant strides women entrepreneurs have made in embracing AI and digital technologies. Our collaboration with Meta for the Marketplace for Good event exemplifies our commitment to supporting women-owned businesses and fostering a community of innovation and empowerment. We believe that by providing these platforms and resources, we can help women entrepreneurs continue to thrive and make a positive impact on their communities.”

Moon Baz, Director of Global Partnerships, Middle East, Africa and Turkey, Meta, said, “We are excited to partner with Visa for the Marketplace for Good event, which aligns perfectly with our mission to support small businesses and creators. This event not only provides a platform for women entrepreneurs to showcase their products but also reinforces our collective commitment to giving back to the community during the holy month of Ramadan. Together, we aim to create opportunities for women-owned businesses to grow and succeed in the digital economy.”

Key findings from the Women SMB Digitalization Index:

Raising Capital. Access to funding remains a critical challenge for women entrepreneurs as they navigate financial constraints and investment priorities.

• Over half (57%) of women-owned businesses in the UAE rely on personal finances, while (43%) turn to family and friends to set up their businesses.
• Similar to the previous year’s results, most surveyed women entrepreneurs in the UAE continue to rely on personal savings (41%) or reinvesting profits (37%) to fund their business.
• Nearly 4 in 10 women plan to allocate additional funds toward developing new products or services and expanding into new markets.

Technology Adoption. Women entrepreneurs in the UAE are actively embracing digital advancements to enhance their businesses’ efficiency, security, and customer experience.

• Over 7 in 10 women recognize the impact of AI in business and apply it to HR function (71%), sales and marketing (68%), and data analysis and decision-making (68%).
• More than half of survey respondents reported a better payment experience with AI, citing increased accuracy in transactions and reconciliations (57%) and faster approvals and authorizations (50%) in daily operations.
• Women-owned businesses in the UAE actively use business social media accounts (67%) and their company websites (43%) to sell products and services online.
• Women entrepreneurs in the UAE prioritize employee awareness and training (59%) as well as advanced security measure (51%) to safeguard their digital transactions.

Growth Priorities. Growth and skill development remain key priorities for women entrepreneurs in the UAE, with many looking to expand into new markets.

• More than half of respondents (51%) in the UAE aim to expand into new markets or industries to grow their businesses.
• Nearly half of surveyed women-owned businesses (46%) seek to broaden their range of products.
• Many women entrepreneurs are interested in learning more about payment security and eCommerce setup (38%), financial and budget management (30%), and business fundraising (28%).

As women entrepreneurs focus on digital growth and business expansion, Visa remains committed to supporting them with tools, resources, and platforms they need to thrive in the digital economy.

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In UAE, a notable 36% of small businesses surveyed are women-owned, with 80% of these reporting as having launched their business in the last five years. These statistics highlight the significant presence of women in entrepreneurship in UAE and underscore their resilience, especially considering the challenging economic climate brought on by the COVID-19 pandemic five years ago.

AI is championing women entrepreneurship
Women entrepreneurs are not just running their own businesses, they are excelling with unwavering confidence. A staggering 66% of those surveyed expressed their belief in their capabilities, a testament to their well-founded strength in the business arena. Additionally, 71% agree AI will help their small business compete with larger, better-resourced companies in the next year.

For example, Emirati women are reporting saving 14 hours per week by using AI tools –such as GoDaddy Airo, an AI-powered experience which simplifies website creation, logo design and digital marketing strategies for entrepreneurs. This time saved equates to two working days per week, time which they spend on learning new skills or improving current ones (43%), coming up with creative ideas (40%), planning the future of the business (37%).

24% of women entrepreneurs in UAE are the primary income earners for their households. These women are contributing to local economies, creating new jobs and supporting families. 29% of UAE women entrepreneurs are feeling very optimistic. 66% believe their business will grow in the next 3-5 years.

Female business leaders are embracing digital tools to grow
In addition to finding fulfillment in creating their own source of income (46%) and learning new skills to run their business (41%), women entrepreneurs take joy in inventing new products or filling a gap in the market (32%).

“With AI-powered tools like GoDaddy Airo, women entrepreneurs are able to free up time to spend it on what really matters to them,” said Selina Bieber, Vice President of International Markets at GoDaddy. “Whether that is growing their business, focusing on family or enhancing their skills, women in UAE are inspiring the next generation of successful women business leaders.”

Entrepreneurship is playing an increasingly pivotal role in women’s lives with 66% of respondents saying it has enhanced their quality of life, offering a sense of fulfillment and empowerment with the opportunity to pursue their passion.

“GoDaddy’s findings confirm that technology is a powerful equalizer, enabling women to redefine their roles in business,” continued Bieber. “GoDaddy is here to support dreaming of becoming their own boss but haven’t found the time to start their own business. Starting a business is never easy, but GoDaddy Airo makes it a whole lot easier.”

Key capabilities of GoDaddy Airo include brand creation, digital marketing and search engine optimization (SEO), navigated in an intuitive user-friendly interface with no technical expertise required. GoDaddy Airo generates custom logos, websites and email addresses within minutes, develops targeted social media campaigns aligned with local events and enhances online visibility with built-in AI SEO.

To learn more about GoDaddy Airo, visit: https://ae.godaddy.com/airo

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What are the most significant changes you’ve observed in the Middle Eastern entrepreneurial ecosystem for women in recent years?
In my short time here in the UAE, I’ve witnessed firsthand the remarkable energy and drive of women entrepreneurs. The country’s open and accepting culture provides a powerful platform for women to thrive and build successful businesses, a significant shift I’ve observed in the Middle Eastern ecosystem. The energy is inspiring. The inspiring energy is undeniable.

What are the most persistent challenges that women entrepreneurs in the Middle East still face, particularly regarding access to funding and networking opportunities?
While progress is being made, the limited representation of women at key events, like the recent Dubai conference I attended, remains a significant hurdle. Seeing only one woman speaker made it clear that more platforms are needed to amplify women’s entrepreneurial stories. This lack of visibility restricts access to crucial networking and funding connections.

How do you perceive the role of government initiatives and private sector support in fostering women’s entrepreneurship in your country or region?
While I acknowledge the government’s strong support for entrepreneurship overall, I believe there’s a missed opportunity to specifically elevate women entrepreneurs. The current initiatives, though beneficial, lack the targeted focus needed to truly highlight and advance women’s contributions in this space.

Who are the women who have most inspired you on your entrepreneurial journey, and what lessons have you learned from them?
Sara Blakely, the founder of Spanx, has been a constant source of inspiration, particularly her resilience and innovative spirit. Additionally, Taylor Swift’s dedication to her community and the sheer scale and impact of her Eras tour have taught me the power of building a strong connection with your audience and the importance of unwavering dedication.

How do you believe we can best celebrate and amplify the achievements of women entrepreneurs in the Middle East, not just on International Women’s Day, but throughout the year?
For me, celebrating women is a daily commitment, not just a yearly event. To truly amplify their achievements in the Middle East, we need to foster a culture of self-reliance. Empowering more women to start their own businesses is, in my view, the most impactful way to achieve this throughout the year.

What advice would you give to young women in the Middle East who aspire to start their own businesses, especially in light of the evolving socio-economic landscape?
My strongest advice is to take initiative and build your own path. Don’t wait for anyone’s approval. Leverage the resources at your fingertips—like a laptop and internet, as I detail in my book ‘Wealthy Moves‘—to create your own financial independence. The time is now for women in the Middle East to claim their economic power.

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The DFF series will provide a unique platform for aspiring and established female entrepreneurs to connect, learn, and grow. Each month, the events will feature a unique theme, brought to life through interactive workshops, expert-led sessions, and inspiring founder stories designed to equip women with the essential skills and knowledge to succeed in today’s competitive landscape.

The inaugural event highlighted ‘Founder Stories,’ featuring Saba Yussouf, General Partner of Nettle Ventures. A successful entrepreneur, she sold her first company at 24 for £2 million and now leads a $60 million biotech firm. Saba will share key insights on investor readiness, what investors look for, and how founders can better prepare for funding.

The inaugural event will also feature Marisa Peer, celebrity therapist and best-selling author of I Am Enough. Marisa will deliver a powerful session focused on overcoming limiting beliefs, building self-confidence, and achieving entrepreneurial success. Known for her work with global leaders, athletes, and high-profile clients, she brings invaluable insights to help female founders unlock their full potential.

The series will also feature speakers like Nacho Floristan, Director of Generative AI Solutions Architecture at Google Cloud. They will also feature “founder stories” where successful women will share their journeys and insights. Recognizing the importance of mental well-being for entrepreneurs, the series will also include Dr. Louise Lambert, PhD, a renowned expert in positive psychology. Dr. Lambert will speak about applying the science of positive psychology toward social capital and joyful living—proving that even entrepreneurs can build success while maintaining balance and fulfillment.

Faranak Farahmand Pour, Director of Global Strategic Initiatives at Google Cloud, said: “Through our support of the DXB Female Founders event series, we aim to help unlock the immense potential of female talent in this region and contribute to the UAE’s ambitious goals for economic growth and technological advancement.”

Nicki Bedford, Founder & CEO of DXB Female Founders, added, “DXB Female Founders is dedicated to providing women entrepreneurs with the tools, knowledge, and network they need to succeed—while being surrounded by a supportive community of women who genuinely want to see each other succeed. Our monthly series offers practical workshops, mentorship opportunities, and a supportive community to help women overcome challenges, scale their businesses, and achieve their full potential. We are incredibly grateful for Google Cloud’s sponsorship and their commitment to empowering women in tech. Their support will enable us to reach more women and provide them with unparalleled access to resources and expertise.”

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Eight Years of Data Reflects Growth in Women’s Entrepreneurial Intentions
The 2023-2024 GEM KSA Women’s Report, encompassing eight years of data, reveals that nearly half of Saudi women express intentions to start a business within the next three years—a 30% increase over previous years. This rise reflects the success of Saudi Arabia’s efforts to nurture an inclusive environment where women thrive at all phases of business development, contributing positively to society across all age groups, education levels, and income brackets.

Societal Impact and Innovation on the Forefront
Highlighting the influence of women entrepreneurs in the consumer sector and beyond, the report shows a strong commitment to societal value, with over 75% of women entrepreneurs implementing strategies to maximize social impact and reduce environmental impact. As the report was unveiled at Biban 24, it highlighted the importance of the event in fostering global connections and encouraging new ventures, in alignment with Saudi Vision 2030.

Building a Network of Opportunity
Saudi women entrepreneurs benefit from strong personal and professional networks, with 86% of women knowing another entrepreneur personally. Additionally, a significant proportion of women investors support close family and friends in launching new ventures. This trend is driving not only economic growth but also community resilience and self-reliance, as women investors support other women to strengthen the Kingdom’s business landscape.

“Saudi Arabia’s entrepreneurial landscape is enriched by the contributions of women, whose role continues to expand across all areas of business,” stated Dr. Zeger Degraeve, Dean of MBSC. “The GEM KSA Women’s Report demonstrates Saudi Arabia’s commitment to fostering innovation and inclusivity, and we are proud to contribute to this vital progress.”

Launched as part of a strategic partnership with Monsha’at, the Babson Global Center for Entrepreneurial Leadership, and MBSC, the 2023-2024 GEM Women’s Report emphasizes the role of Biban 24 as a global platform for showcasing Saudi Arabia’s vibrant entrepreneurial ecosystem and reinforcing the Kingdom’s role as a gateway to opportunities for entrepreneurs worldwide.

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These two skilled individuals, who began as local embroidery artists in the humble suburbs of Haripur, Khyber Pakhtunkhwa (KP) Province, have transformed into tech-enabled entrepreneurs through the training and support provided by Ba-Ikhtiar program. The PTCL group selected them for the event to help them gain invaluable exposure and explore new business opportunities at one of the most important business and tech platforms in the world.

Marrium and Farhat showcased their eye-catching embroidery products at the Pakistan Enclosure, where they also engaged with international visitors, shared their inspiring success story and received recognition for their incredible journeys. Their participation in Expand North Star reflects PTCL Group’s continued support for the program’s graduates, which is essential for the sustainability of their enterprises.

Speaking about their experience, Marrium Hussain said, “I am deeply grateful to PTCL Group for providing us with this opportunity. The experience of being a part of such an important global platform has been life-changing and we look forward to newer avenues of growth for our enterprises. We met different people, gained exposure, and received appreciation for our work, encouraging us to dream bigger.”

Ba-Ikhtiar is a women empowerment initiative launched by PTCL Group in collaboration with the Pakistan Poverty Alleviation Fund (PPAF). It aims to equip small-scale female entrepreneurs with essential digital tools and skills to grow their enterprises. Participants receive smartphones with pre-loaded SIM cards from PTCL Group. They also receive hands-on training in digital skills, including using UPaisa mobile wallets and managing seller accounts on the e-commerce platform Daraz. The 15-day workshop enhances their artisan skills and imparts digital marketing techniques to help them expand their market to the global online space.

The program also includes financial management training from U Microfinance Bank, empowering participants to manage their business finances efficiently. PTCL & Ufone 4G provided them with handsets and mobile connectivity to cover their data and voice needs.

So far two batches of women entrepreneurs have graduated from the Ba-Ikhtiar Program, who now use their smartphones and free data to sell products through Daraz, receive payments via UPaisa, and dispatch orders through courier services. Their success stories inspire other women to pursue digital entrepreneurship to transform their socio-economic condition.

Sharing his thoughts, Hatem Bamatraf, President and Group CEO, PTCL & Ufone 4G said, “Ba-Ikhtiar program mirrors our commitment to fostering digital inclusion and leveraging our digital resources to empower underserved social segments. The initiative enables women to become financially independent and facilitates their participation in Pakistan’s growing digital economy. It lays a strong foundation for a sustainable future by ensuring that women play an active role in improving the country’s socio-economic progress. I am immensely proud of these young entrepreneurs, who has shown resilience and commitment to be the future business leaders.”

The PTCL Group exhibit was a key feature of the Pakistan enclosure at Expand North Star. It received immense footfall, with Marrium and Farhat’s story of their evolution from local artisans to digital entrepreneurs on the back of digital and financial technology inspiring profuse commendation.

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Women Choice, founded by renowned social entrepreneur Nezha Alaoui, will host quarterly panels at the DIFC Innovation Hub, exploring cutting-edge topics and fostering insightful discussions. “This ecosystem partnership with DIFC Innovation Hub represents a significant milestone in our mission to empower women in business,” said Nezha Alaoui, Founder and CEO of Women Choice. “Together, we can create a thriving ecosystem where women can access the resources, mentorship, and opportunities they need to succeed.”

Additionally, Women Choice will be inviting accomplished female leaders, innovators, and entrepreneurs to events at DIFC Innovation Hub contributing to a vibrant and inclusive community. Monthly networking events will also be organized, connecting female entrepreneurs with industry leaders and mentors to facilitate valuable insights, potential collaborations, and mentorship opportunities.

Despite significant progress, women leaders worldwide still face numerous challenges. According to a report by Catalyst, women represent only 24% of senior management roles globally. However, in the UAE, significant strides have been made to promote the empowerment of women leaders in business. The UAE Gender Balance Council aims at making the UAE one of the top 25 countries for gender equality by 2025. According to the World Economic Forum’s Global Gender Gap Report 2023, the UAE has closed 64% of its overall gender gap, showcasing a commitment to advancing women’s roles in various sectors.

“Our collaboration with DIFC Innovation Hub is a testament to the UAE’s commitment to gender equality and the empowerment of women in business,” said Nezha Alaoui. “We look forward to making a lasting impact through our combined efforts.”

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This award serves as international recognition of SDB’s commitment to empowering Saudi women in the entrepreneurial sector. Through innovative financing solutions, SDB has significantly contributed to fostering equal opportunities in the labor market, financing small and micro enterprises led by women, and supporting the achievement of sustainable development goals.

SDB’s win at the World SME Finance Forum is a testament to its role as a leading financial institution in the region, continuing its leadership in empowering female entrepreneurs and supporting pioneering projects. This accolade builds on SDB’s previous recognition at the World SME Finance Forum in India last year, where it was honored for its outstanding work in financing female entrepreneurs.

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The competition kicks off with an application phase open until June 1st, 2024. Through several rounds of screening, an unbiased jury with TiE Dubai Charter members will select the top innovative ideas from each of the five categories. The selected finalists will showcase their ventures in five rigorous pitch competitions. The winners of these competitions prep for the MENA finals, previously hosted at the North Star Expand at GITEX. At every stage, the program will include mentorship sessions with renowned and experienced industry leaders, financial advisory services, strategy coaching, workshops on practical business planning, an online global accelerator program and tips to nail the perfect investor pitch. The competition will conclude with the Global Finals in December 2024.

Rohit Dev, President at TiE Dubai stated: “Through time, entrepreneurs have been the biggest changemakers and have contributed tirelessly to the world economy, progress, and human sustenance. Despite this, women-led businesses in the region make up less than 5% of all businesses and 2023 saw a significant drop in fund-raising for these companies. For over 21 years, TiE has promoted entrepreneurship in the UAE, and since 2020, its TiE Women MENA initiative has been empowering female entrepreneurs. Supporting regional governments’ mission to increase female business owners, we aim to equip women founders with the tools, knowledge, and networks necessary to thrive in today’s competitive business environment.”

The program seeks to create equal opportunities for women entrepreneurs to excel and contribute significantly to their economies. This year’s theme continues to highlight the role of women in business, with a focus on nurturing their skills through a structured framework. Participating startups undergo several stages of development, from initial application through intensive 1:1 mentorship to pitching their ideas in front of a seasoned panel of judges at the MENA and Global finals.

As a mission-driven organization, TiE Women MENA Program 2024 works with over 15 accelerators, incubators, VC funds, and members of the angel investor community in the startup ecosystem to harness each other’s strengths and specialities to uplift women entrepreneurs. Some partners include in5, DBWC, Flat6labs (MENA), Plug and Play, StartAD, Wamda, Female Angels 2022, AngelSpark, Astrolabs (Saudi), LIVINC (Jordan), and Women Spark (Saudi).

TiE charter members Ashish Panjabi, CEO of Jacky’s Electronics; Mahesh Jaishankar, Head of Strategic Negotiations MENA, Google; Sanjay Babur, Founder of Bestinsurance.ae; Veena Munganahalli, serial entrepreneur and investor; Shabana Karim, Founder/CEO of House of Enspa; and Shameema Parveen, CEO of Edutech are some of the judges for the program.

Global and regional winners will receive prizes and recognition for their accomplishments. In the past, winners have received equity-free cash prizes of up to $50,000 at the Global finals and up to $25,000 at the MENA finals in Dubai, and have gone on to achieve much more.

Last year’s UAE winner was Lara Hussein, Co-founder & CEO of The Waste Lab, dedicated to transforming food scraps and waste into compost for soil regeneration. After her win and mentoring journey with TiE Women MENA, she has garnered more accolades and wins, including at COP28, SEF by Sheraa etc. The TiE Women 2023 Emirati winner was IZI Health from Abu Dhabi. This integrative preventive care offers high-end technological solutions to doctor’s consultations, healthy meal planning, fitness training and holistic medicine. Besides TiE Women’s support along with her Emirati win, she has been selected for other programs by ADIO and STARTAD in her entrepreneurial journey.

The other region’s winners were Playbook from Saudi Arabia, which also won runner-up at the TiE Women Global Finals in Singapore, Warrd from Egypt, and Khateera from the Rest of ME.

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Women Choice, an international organization dedicated to advancing women’s personal and professional development, launched the pilot cohort in 2023. The next cohorts will participate in the new programs this year and aim to impact 50,000 women.

Mastercard has been at the forefront of providing women with access to digital tools, training to help them start and grow their businesses, mentorship and networking platforms, and collaborations with employers to create more jobs for women.

The collaboration with Women Choice is a step further in reinforcing their joint commitment to empowering female-led businesses with resources and growth opportunities. The goal is to provide 1 million employment opportunities for women by 2030.

These programs will offer comprehensive support via training and mentorship for women entrepreneurs and help them create employment opportunities for other women in their chosen fields.

“At Mastercard, we are committed to creating a more inclusive and equitable world where everyone has the opportunity to thrive. Our expanded partnership with Women Choice will not only have a significant impact on women in the workplace across the region but also provide women entrepreneurs with the right skills, resources and tools to succeed and drive economic growth in the region,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

“We are proud to see the successful results of the program launched in 2023 in collaboration with Mastercard and are excited to see the partnership continuing to grow through 2024. We are now focusing on scaling the impact. Bringing change and improving the situation of women in the workplace and providing support to women-led businesses is a key element to help economies in the Middle East and Africa region grow and further thrive,” said Nezha Alaoui, Founder & CEO of Women Choice.

Globally, 15,000 women are already part of the Women Choice network and have participated in 100+ accelerator programs and conferences organized in recent years.

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