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Dubai: A global hub for entrepreneurship and innovation

Fahad Al Gergawi, CEO of Dubai FDI said: “Team Dubai Advantage initiative is inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a global hub for entrepreneurship and innovation and a test-bed for leading technologies shaping the future.”

Dubai FDI, the investment development agency of Dubai Economy, revealed today its partnership program with the Web Summit 2019, to showcase Dubai’s strategic advantages for global business, startups and talent as well as global growth opportunities for entrepreneurship and innovation. Team Dubai Advantage, representing Dubai at the Web Summit held in Lisbon, Portugal from 4 to 7 November, includes delegates from Dubai FDI, Dubai Future Foundation, Dubai Tourism, Dubai Multi Commodities Centre (DMCC) and Dubai International Financial Centre (DIFC) along with Dubai Future Accelerators members from Dubai Electricity and Water Authority (DEWA), Etisalat and Emirates.

Fahad Al Gergawi, CEO of Dubai FDI said: “Team Dubai Advantage initiative is inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a global hub for entrepreneurship and innovation and a test-bed for leading technologies shaping the future.”

“The Web Summit is an ideal venue to showcase Dubai’s achievements, future plans and investment opportunities as well as raise awareness about its growing startup ecosystem services, incentives and future growth outlook.” He added.

Under the theme “Grow with Dubai”, Team Dubai Advantage will engage with the largest global gathering of investors, global business leaders, startups, entrepreneurs and media over the 4 days program which includes; a showcase lounge for meetings and networking and featuring digital investment opportunity briefs and Virtual Reality tour of Dubai, the smart and sustainable city of the future, the gateway to regional growth markets and the pivotal hub in the global economy.

A dedicated “Dubai 4.0” workshop will be held as part of the Web Summit program to highlight Dubai’s drive to lead with innovation as the 4th industrial revolution technologies converge into the fabric of the city creating new opportunities for growth, partnership and innovation across key strategic sectors from energy and aviation to travel, tourism, trade, e-commerce and financial services.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said “I look forward to Web Summit 2019 with great promise. The most influential and aspirational minds in the tech world will gather in Lisbon to transform the future, and it is absolutely critical that Dubai has a voice in this important conversation.”

“Team Dubai Advantage has a clear message to share with over 70,000 delegates expected in Portugal; Dubai is the destination for pioneers! The city is one of the most technologically advanced in the world, and one that embraces innovation at every turn. Dubai is the perfect setting for ambitious entrepreneurs and start-ups to take their business to the next level, and access some of the fastest growing markets in the world. Thousands of brilliant companies like AstroLabs have already launched their enterprise from within our free zone at DMCC, and entrepreneurs will always be welcome in Jumeirah Lakes Towers,” he added.

Arif Amiri, Chief Executive Officer, Dubai International Financial Centre (DIFC) Authority said: “As the leading international financial centre, DIFC continues to prioritise digital transformation, enhancing infrastructure that provides businesses with next generation connectivity and the latest technology needed to stimulate business growth.”

“Technology and finance are rapidly integrating with each other and FinTech investment in MENA and the UAE is growing at twice the global rate. This trend represents huge opportunities for start-ups and investors seeking sustainable economic growth from Dubai. We are pleased to have partnered with Dubai FDI, and our participation at the Web Summit 2019 reflects the Centre’s strong dedication to strengthen Dubai’s position in the global entrepreneurial economy. DIFC has been at the forefront of financial technology to build a regional hub to expand into the Middle East, Africa and South Asia (MEASA) region.”

Abdulaziz Al Jaziri, Deputy CEO and COO at Dubai Future Foundation (DFF) highlighted: “The participation of the Dubai Future Foundation at global events such as Web Summit, supports the foundation’s efforts in attracting innovative startups, talents and entrepreneurs to further position the city as a hub for innovation and a testbed for emerging technologies. Furthermore, it realizes the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai towards creating a knowledge-based economy that drives innovation.”

Dubai has made remarkable progress in attracting high-tech and specialized projects over the years. According to Dubai FDI Monitor, Foreign Direct Investment projects with high and medium technology components accounted for 47 per cent of total projects during the first half of 2019, based on OECD classification criteria, about 48 per cent of the total 24,294 new jobs created during the same period.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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