Dubai has unveiled a comprehensive initiative aimed at attracting digital start-ups to establish and thrive in the emirate. The initiative called the Dubai Chamber of Digital Economy, will be launched in September and is part of the UAE’s plan to double the contribution of the tech sector to its gross domestic product over the next decade. The goal is to create a unified platform that consolidates incentives for new and existing digital economy start-ups in Dubai.
The Dubai Chamber has already forged initial agreements with several partners, including Telr, Dubai CommerCity, e& (formerly known as Etisalat), and Safexpay. More partners will join in phases, as numerous companies and institutions have expressed interest in participating. The initiative aligns with the UAE’s Digital Economy Strategy, which aims to increase the sector’s GDP contribution by 20% over the next 10 years.
The Dubai Chamber of Digital Economy seeks to attract 300 digital start-ups to Dubai by 2024, bolstering the emirate’s non-oil GDP. During the first quarter of 2023, the Chamber successfully attracted 30 digital start-ups. The initiative will offer company-based and employee-based incentives to encourage local and international digital start-ups to operate in Dubai, applicable to both free zones and the mainland.
The incentives encompass various benefits, including discounts on commercial offices, technology, and infrastructure such as connectivity and data hosting. The platform will serve as a centralized hub, providing licensing services, banking facilities, office space, cloud services, and other essential requirements for digital companies. The initiative aims to offer enhanced packages and incentives compared to those available in free zones, as it adopts a collective approach in partnership with multiple stakeholders.
The Dubai Chamber is also organizing the Expand North Star summit, scheduled from October 15 to 18, which will facilitate connections between start-ups and investors. The summit anticipates the participation of over 1,400 exhibitors and 1,000 investors. Further details regarding the packages offered by each partner will be announced upon the initiative’s launch in September.
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