Dubai Chamber of Digital Economy attracts 69 emerging technology companies to the emirate in H1 2023

Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has unveiled details of its key achievements during the first half of 2023.

Significant milestones included attracting 69 emerging technology companies to the emirate in cooperation with its partners from various government authorities between January and June, in line with the chamber’s commitment to advancing Dubai’s dynamic digital economy and bringing the ambitions of the Dubai Economic Agenda (D33) to life.

During the six-month period, the chamber successfully conducted a series of 12 roadshows across the Middle East, Africa, Asia, and Europe. As part of these roadshows, meetings were coordinated with 279 companies including multinationals, SMEs, startups and scale-ups to showcase the huge growth potential in Dubai and highlight the benefits of doing business in the emirate.

In addition, the visits were aimed at encouraging participation in the upcoming Expand North Star, one of the largest global gatherings for startups that will be hosted in Dubai from 15 - 18 October.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, "We remain committed to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to consolidate the emirate's position as a global capital of the digital economy, and are working to activate the role of the private sector as a key driver of sustainable economic growth.

"Our priorities include keeping pace with the wise leadership’s vision and achieving the objectives of the Dubai Economic Agenda (D33) to consolidate the emirate's reputation and attractiveness among international technology companies.”

Lootah added, "Dubai Chamber of Digital Economy plays a pivotal role in achieving the goals of the UAE’s Digital Economy Strategy and will continue to strive to build a diversified and flexible economy based on technology and digital knowledge.

Our projections indicate the national digital economy will grow significantly to reach a value of over US$ 140 billion in 2031, bolstered by our plans to attract 300 digital startups to Dubai by 2024. We are continuing to work to unlock the full potential of the digital economy and propel Dubai into its ambitious future as a leading global hub for technology and innovation.”

In line with Dubai Chamber of Digital Economy's strategy, the chamber launched several impactful initiatives during H1 2023. Key highlights included activating constructive dialogue through a series of 10 sector-specific digital economy workshops and publishing two in-depth reports on Dubai’s digital economy startup and venture capital ecosystems.

In March, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launched the ‘Create Apps in Dubai’ initiative. Led by Dubai Chamber of Digital Economy, the initiative is aimed at promoting a proactive approach to digital entrepreneurship among Emirati youth. The comprehensive training programme teaches recent graduates how to effectively implement their business ideas for mobile apps and is designed to inspire the community to shape the future of smart applications.

Create Apps in Dubai empowers homegrown talent to play a key role in achieving the UAE’s digital vision and has set a target to train 1,000 Emiratis as part of the drive to triple the number of app developers in the emirate by 2025. The initiative supports 100 new national projects for the development of cutting-edge apps, which will be made available in digital app stores over the next two years.

The chamber also announced a new initiative to launch a platform for digital companies that offers a comprehensive range of services aimed at helping tech startups, SMEs, and MNCs to set up and scale up in the Dubai.

The initiative encompasses a full spectrum of support including licensing services, banking solutions, office space, cloud services, and more, creating a ‘one-stop shop’ for companies seeking to establish or expand their business in the emirate with the support of Dubai Chamber of Digital Economy.

During the launch event for the initiative, the chamber signed Memoranda of Understanding (MoUs) for partnerships with four companies and institutions that will provide discounts and exclusive offers in support of the initiative. Agreements were inked with Dubai CommerCity, Safexpay, e&, and Telr as part of the first stage of the initiative, with more partners set to come on board in the future.

In addition, the chamber held a special workshop with 20 government entities to discuss the challenges facing the digital industry, successfully hosted multiple business delegations, and organised 237 bilateral business meetings between investors and a Palestinian delegation that included digital startups.

Dubai Chamber of Digital Economy is preparing the host the first Expand North Star t in October, which will gather venture capitalists, unicorns, and startups in the region and showcase the exciting growth opportunities emerging in Dubai’s digital economy.

WAM