UAE’s Ministry of Economy teams up with Schneider Electric to help climate tech startups in the country
The UAE Ministry of Economy has teamed up with French company Schneider Electric to start a new program that helps climate-tech startups in the country, according to the Emirates News Agency (WAM) on Monday.
Partnership with Schneider
Schneider Electric is working with the UAE to help startups in sustainability and climate technology grow and succeed. The company will introduce its startups to the UAE, giving them chances to connect with others and expand their businesses.
As part of this deal, Schneider Electric will support the NextGen FDI program by helping startups enter the market and providing incubation support. It may also collaborate with some startups and bring companies from its global network into the program.
Launched in 2022, NextGen FDI is helping the UAE build a diverse economy and become a global innovation hub. So far, it has attracted more than 20 companies in areas like artificial intelligence (AI), renewable energy, robotics, and advanced manufacturing. This supports the UAE’s move toward a knowledge-based and sustainable economy.
The UAE’s minister of state for foreign trade, Thani bin Ahmed Al Zeyoudi, said that working with Schneider Electric will give climate-tech startups the tools and knowledge they need to grow.
Schneider Electric has long-term partnerships with over 35 companies in energy management, sustainability, and industrial automation. It provides startups with resources, tools, and partners to help them grow through strategic investments.
Climate Tech Investment
The climate tech investment market is facing challenges worldwide. In 2024, investment in global climate tech from Middle East investors fell 28% to $3.6 billion, while total investment in the region dropped 41% to $114 million, according to PwC.
Strong Business Performance
Schneider Electric had a strong 2024, with revenue up 8% to a record $39.8 billion (€38 billion), thanks to growth in its data center business. Net income increased 7% to $4.5 billion, according to a report on Euronext Paris.
CEO Olivier Blum said the company is entering 2025 with “strong momentum” and expects profits to grow 10% to 15%, driven by strong sales and higher profit margins.
Key factors driving growth include:
- Higher demand for data centers
- More companies using smart grids and industrial automation
- A growing focus on renewable energy solutions
Published: 4th March 2025
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