The Dubai Chamber of Digital Economy, operating under the umbrella of Dubai Chambers, has announced its successful support of 215 high-potential digital startups in establishing and expanding their businesses in Dubai during the first half of 2024.
According to the organisation, this marks an impressive year-over-year (YoY) growth of 212 percent, a significant increase from the 69 companies supported in the same period last year. Collectively, these startups hold a combined market value of approximately USD 7 billion.
This surge in support aligns with the Chamber’s broader strategic objectives to position Dubai as a global capital for the digital economy. His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy, highlighted the Chamber’s commitment to fostering a robust digital ecosystem.
“Our initiatives aim to drive the objectives of the Dubai Economic Agenda (D33), which seeks to generate AED 100 billion annually for the emirate’s economy through digital transformation projects,” he stated.
During the first half of 2024, the Chamber also trained 243 Emiratis under the ‘Create Apps in Dubai’ initiative, launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. This initiative is designed to enhance digital skills and aims to triple the number of app developers in Dubai by 2025.
The Chamber organised 12 international roadshows to promote Expand North Star, the world’s largest gathering of startups and investors, slated for October. Additionally, it played a key role in 15 local and international events as an organiser and strategic partner.
The first half of the year also saw the Chamber signing four memorandums of understanding (MoUs) with key partners, including Enterprise Ireland, to bolster Dubai’s digital business ecosystem. These efforts are complemented by the publication of two reports on the success rate of scale-ups in Dubai and the FDI landscape in MENA.
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