Startups: A Leading Economic Model for Supporting Economic Development

Abstract

This study seeks to demonstrate the importance of startups in achieving economic development amid the transformations taking place in the global economy toward a knowledge- and innovation-based economy. Startups have become one of the most important driving forces of economic growth because of their ability to develop innovative solutions based on modern technology and knowledge. The study aims to highlight the role these institutions play in supporting the economy through job creation, the promotion of innovation and technological advancement, and their contribution to the diversification of the national economy.

It also sheds light on the impact of startups in fostering economic growth and increasing productivity, in addition to their role in attracting investment and improving the business environment. This study was conducted to highlight the extent of the contribution of these institutions to supporting the transition toward the digital economy and the knowledge economy, as they are among the most important pillars of economic development in the modern era. The article concluded that supporting startups represents a strategic option for achieving sustainable economic development and enhancing the competitiveness of the national economy.