Over 1,600 fintechs, $6.5 billion in funding, and the largest share of startup capital in MENA for four years running. The UAE is not just competing for fintech talent and investment — it is winning. But is it actually the best place in the world to build? Joining me is P.K. Gulati, Member of the Board of Advisors of MFTA, founder of Smart Start Fund, and advisor to the Dubai Future Foundation and Hub71. Welcome to Wall Street to Mena.
Thank you for having me.
Is the UAE the best place right now to build and run your fintech?
Well, I'm not biased, but it is the best place. And the reason is simple — there are multiple reasons. First, we sit at the cusp of almost 3 to 4 billion people around us, all accessible from the UAE. On top of that, you have an exceptionally diverse and talented workforce. Almost every nationality is welcome here and can come and live here long term. People are coming here to build their lives and their families. The UAE is also exceptionally forward-looking and experimental by nature — it does the first, the fastest, the biggest. The population here is very interested in trying new things. And of course there's capital, connectivity, a cosmopolitan environment, no language barriers. Once the best people come here, things happen.
You advise Hub71 and the Dubai Future Foundation. What is the one thing the UAE gets right more than any other country when it comes to fintech?
What I've learned working with these organisations over many years is that the government and the entities entrusted with building here act very quickly. The decision-making and reaction process is exceptionally short. If something needs to be done to encourage an industry to flourish, that enablement happens almost instantly. A few days ago you saw the Agentic AI initiative — that kind of thing moves with extraordinary speed. And if something isn't working, the reaction is equally fast. That pathway from thought to action is very short, and that is one of the most unique things I've seen compared to any other government or city in the world.
The UAE has multiple regulators — ADGM, DFSA, the Central Bank. Is that a strength or a headache for builders?
When you do things for the first time, regulation follows. Dubai and Abu Dhabi have been at the forefront of the fintech revolution, so new things emerge and then different entities step in to understand them. Sometimes you can end up with more regulation than you require, or more overlap than is ideal. But coming back to how quickly the UAE reacts — over the last year I've seen a major amount of trimming happen, with overlaps reduced significantly. I think we'll only see it get better.
New York, London, Singapore — they're all competing for the same fintech talent and capital. What does the UAE have that they don't?
One distinct thing: quality of life. When I worked with various organisations here, we used to ask people why they came. Most of them said they loved the place when they visited. Their families loved it. They weren't paid to say that — they took their own flights to come and check it out. Despite the recent geopolitical uncertainty, the structure is the same, the people are still coming. There is a distinct quality of life advantage — for families, for people who want a life beyond work, for security, peace, cosmopolitan diversity. All of these things make this place very different.
Final question — what would you tell a founder sitting outside this region right now watching what's happening here?
Buy a ticket. Come here. You will not understand the depth of what is possible until you come and spend time in the ecosystem. I spend a lot of time in Silicon Valley too — I've built a full footprint there — and the realisation is the same: you have to experience it. Why has a small country produced so many unicorns? Because most of the founders who built them came in on a plane, just like what I'm suggesting. They weren't native to this place. They came, they found something, and they built large, successful companies from here. A founder sitting in New York may find exactly the same thing. And by the way — come now. Summers are cheaper in Dubai.
But it's also very hot!
21 degrees inside, believe me.
Thank you so much for these insights. Thank you for joining us today.
Thank you.
