Startups to provide 50% of all new jobs

dubai — Startups and other young companies can provide up to 50 per cent of all new job prospects in the market at the seed stage and those operating for two-and-a-half year hiring an average of 12 workers.

Several reports reveal that startups generate significant employment opportunities globally, helping drive immense economic growth prospects.

The role of startups as the main engine for job creation will be further discussed at the upcoming AIM Startup, an initiative of the UAE Ministry of Economy, in Dubai happening from 8th to 10th April, 2019. The AIM Startup will take place in conjunction with the Annual Investment Meeting (AIM) under the theme “Harnessing Global Digitization to Empower Startups and SMEs”.

“More jobs are being created as millions of startups are being established worldwide, producing opportunities that will lead to enhanced quality of life and improved standard of living across countries. This specific role of startups is highly critical to global efforts concerning unemployment rate,” Dawood Al Shezawi, Chairman of the Organising Committee of AIM Startup, said.

“Each year, we see new professionals joining the labour market. In the Mena region, an industry expert estimated that almost six million additional individuals will join the workforce annually between 2018 and 2035, and we need the means to absorb them and keep up with the growth.”