Dubai Chamber of Digital Economy presented a new initiative to attract and support technology startups in the UAE
During the press conference held this week in the Dubai Chamber of Digital Economy, the launch of a new initiative aimed at attracting digital startups to the city and doubling the contribution of the technology industry to the UAE’s GDP over the next decade was announced. The initiative, which is scheduled to launch in September, will create a single window platform that will combine all the incentives for digital economy companies in Dubai.
The initiative will provide a number of incentives for technology startups, including business start-up benefits, operational incentives for existing companies and incentives for individual employees. The goal is to create an ecosystem that promotes growth and provides an appropriate environment for digital business to flourish.
Mohammad Ali Rashed Luta, President and CEO of Dubai Chambers, noted that the new initiative aims to help alleviate some of the challenges faced by tech startups.
«Ultimately, this will be directly related to one of the mandates of the Dubai Chamber of Digital Economy, which increases the contribution of technology sectors to the city’s GDP», he added, saying that it aims to increase this contribution to 10 percent by 2030.
In addition, the new initiative is a step towards achieving Dubai’s goal of attracting 300 digital startups to the UAE by 2024 and increasing its non-oil GDP. The Dubai Chamber of Digital Economy has already attracted 30 digital startups during the first quarter of 2023.
From October 15 to 18, the Dubai Chamber will organize the Expand North Star summit, an event dedicated to establishing contacts between startups and investors. The summit will be held in Dubai and is expected to attract more than 1 400 exhibitors and 1 000 investors.