Emirates Development Bank Launches New Platforms to Empower 500 Startups

The Emirates Development Bank (EDB) is rolling up its sleeves once again, this time aiming to back 500 entrepreneurs and SME founders through fresh non-financial enablement programmes. All of this comes under the national banner of *“The Emirates: The Startup Capital of the World”*—a vision that’s certainly more than a catchy slogan. If you’ve been following the UAE’s push to cement itself as a global hub for innovation, this move feels spot on.

EDB’s plan revolves around two key platforms: **EDB 360** and the **EDB Business Lab**. The first is its all-digital banking platform—no minimum balance, no monthly fees, and a swift way to open a business account (which, let’s be honest, can be a bit of a faff elsewhere). The second, the Business Lab, has a more hands-on approach, offering mentorship, masterclasses and practical guidance for startup founders looking to sharpen their skills.

The idea, as outlined by the Bank, isn’t just to throw money around but to give startups the complete package—financial tools *and* the knowledge to use them wisely. That said, while the UAE’s start-up ecosystem has grown impressively fast, many founders I’ve spoken with at Arageek’s own gatherings still say the non-financial side of entrepreneurship is the toughest nut to crack. Things like market entry, regulatory know-how and building the right network can take years to master without the right backing. So, it’s encouraging to see those pain points being addressed head-on.

H.E. Ahmed Mohamed Al Naqbi, EDB’s CEO, put it neatly in a statement: entrepreneurs need ecosystems, not just financing. It’s a simple truth but one that tends to get drowned out in all the hype about venture capital and funding rounds. Personally, I reckon these kinds of initiatives, if executed well, could make the startup support scene here even more cohesive—less fragmented, more community-driven.

Beyond money, EDB has been carving a role for itself as a national enabler of entrepreneurship. By linking financial services with capacity building and ecosystem partnerships, the bank’s approach feels holistic and distinctly in tune with the country’s longer-term diversification goals. On the flip side, building an ecosystem isn’t an overnight affair—it demands consistency, follow-through and, yes, patience.

Founded under federal decree back in 2011 and operational since 2015, EDB has always pitched itself as more than just another lender. It focuses on sectors like advanced technology, healthcare, renewables and manufacturing—industries the UAE considers vital for the future economy. The fact that it’s also Great Place to Work-certified suggests that it’s practising what it preaches internally too.

When I think of how many founders across the MENA region are trying to find their footing, seeing institutions like EDB expanding their remit to non-financial support gives me a real sense of optimism. Sure, execution will be key (it always is), but this is a timely reminder that the startup journey is rarely just about raising cheques. Sometimes, it’s the networks, know-how and a bit of that good old local mentorship magic that can make all the differnce.

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