Dubai Chamber Of Digital Economy Reports Support For 485 Digital Startups In Nine Months

The Dubai Chamber of Digital Economy (DCDE), part of Dubai Chambers, has facilitated the growth of 485 digital startups in Dubai from January to September 2024. This marks a remarkable 380% increase compared to the same period last year, showcasing the chamber's dedication to nurturing digital enterprises.

During this period, DCDE organised 20 events aimed at supporting the business community and empowering startups. These events also focused on nurturing talent, building partnerships, and enhancing Dubai's business-friendly environment. Additionally, the chamber conducted 22 international tours to promote Dubai's advanced digital ecosystem and highlight Expand North Star, a major event for startups and investors that concluded in October.

Among the startups supported by DCDE, those specialising in Artificial Intelligence (AI) and machine learning made up 11%. Fintech companies accounted for 9%, while Software as a Service (SaaS), Technology, Media and Telecommunications (TMT), and health tech each represented 7% of the total.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of DCDE, stated: "We remain committed to realising the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, by consolidating Dubai's position as a global capital for the digital economy."

The "Create Apps in Dubai" initiative is a significant effort by DCDE to train Emiratis in coding and mobile app development. In the first nine months of 2024 alone, 787 Emiratis received training under this programme. The initiative aims to train 1,000 Emiratis by 2025 to boost digital skills in the UAE and triple the number of app developers in Dubai.

This initiative also seeks to support 100 new national projects focused on developing advanced mobile applications. By ensuring robust digital infrastructure and legislative support for app development, DCDE aims to leverage growth opportunities in this sector.

Strategic Partnerships and Reports

DCDE signed five Memorandums of Understanding (MoUs) with regional and global entities during this period. These agreements aim to foster collaboration in key sectors of the digital economy. Furthermore, three reports were issued reflecting Dubai's dynamic digital economy.

Al Olama emphasised that stimulating digital company growth is crucial for achieving the goals set out in the Dubai Economic Agenda (D33). This agenda aims to contribute an average of AED100 billion annually to Dubai's economy through digital transformation projects.

The achievements underscore DCDE's vital role in attracting foreign direct investment into digital industries. By strengthening the business ecosystem, DCDE supports UAE leadership's ambitious vision for economic growth.

With inputs from WAM