'No better place than UAE' for women entrepreneurs as gender funding gap persists

The UAE has been named the world's best place for women entrepreneurs for the fourth consecutive year, according to the Global Entrepreneurship Monitor.

Reflecting this success, Dr Chiara Spina, Professor of Entrepreneurship and Family Enterprise at INSEAD, highlighted at Khaleej Times’ ‘We the Women’ event how the country offers a uniquely supportive ecosystem for women founders — even as gender disparities in global start-up funding persist.

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“There is no better place than the UAE,” Sipna said during her address to a full audience at the Address Skyview hotel on Wednesday. “For four consecutive years, the Global Entrepreneurship Monitor has ranked the UAE as the first place for entrepreneurship and for women entrepreneurship, and the Minister for Entrepreneurship is also a woman."

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Key challenges women face

The veteran academic, who has raised close to US$2 million and worked with more than 3,000 entrepreneurs worldwide, shared insights from a decade of research and mentoring.

She highlighted the ongoing barriers women face in accessing investment, talent, and networks — despite starting businesses at the same rate as men.

“Women are starting businesses at least at the same pace as men every year globally, yet only two per cent of funding actually goes to these women from professional investors,” she said.

To illustrate the challenge, she recounted the story of a female lawyer who launched a “gym in a van” business but struggled to attract investors — while a man with an identical idea, “a high school dropout passionate about fitness,” rapidly gained media attention and capital.

“This is not, unfortunately, a one-off story,” she added. “Women are often asked different questions by investors, ones that put them on the defensive. This means they’re much less likely to get funding.”

She also pointed to additional barriers, such as limited access to professional networks and senior talent. “Sometimes women don’t have the same network as men, and particularly for senior positions, a lot of hiring happens through networks. It’s about networking, right and strategically. Being in a strategic position is really important. Sometimes doors are closed for women…my suggestion is why don’t you build your own door?” she noted.

Women are less transactional in their relationships

“What research shows is that women tend to have smaller networks. On the right side, they tend to have deeper relationships. So, their networks are less transactional, and that is where networking can really work for women because it's often important to provide value first and then later use that connection whenever you need it,” she added.

Despite the obstacles, the professor said the UAE stands out globally for its strong infrastructure and commitment to women in business. “Honestly, there is no better place to be a woman entrepreneur than here. The women and the women entrepreneurs have a lot more to offer and create these opportunities,” she added.

Nandini Sircar

nandini@khaleejtimes.com

Nandini Sircar has a penchant for education, space, and women's narratives. She views the world through a prism of learning: whether it's the earthly pursuit of wisdom or the unearthly mysteries of space. In her written universe, women and children take centre stage.