Dubai Chamber Of Digital Economy Aids Establishment And Growth Of 1,210 Startups In 2024

The Dubai Chamber of Digital Economy, part of Dubai Chambers, has played a pivotal role in supporting 1,210 digital startups in Dubai during 2024. This marks a 120% increase from the previous year, highlighting Dubai's growing appeal for entrepreneurs in digital sectors. The chamber also trained 1,333 Emiratis in mobile app development fundamentals, a 170% rise compared to 2023.

In February 2024, the winners of an app competition were celebrated across four award categories. Organised as part of the 'Create Apps in Dubai' initiative by the chamber, this competition aims to boost Dubai's reputation as a hub for smart app development and attract creative talent. It drew over 1,100 entries globally, with UAE participants making up 70% of submissions.

The 'Create Apps in Dubai' initiative was launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. It aims to train and qualify 1,000 Emiratis to enhance digital capabilities in the UAE. The programme seeks to triple the number of app developers by 2025 and support 100 new national projects for advanced mobile applications.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence and Chairman of the chamber, stated that their efforts are guided by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and directives from H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He noted that these efforts aim to unlock advanced technologies' potential and position Dubai as a global digital economy leader.

The chamber organised 20 international roadshows throughout 2024 to promote opportunities within Dubai's evolving digital landscape. These events aimed to raise awareness about Expand North Star, the world's largest event for startups and investors. Hosted in collaboration with the Dubai World Trade Centre in October, it saw unprecedented participation.

Expand North Star attracted over 1,800 startups and more than 1,200 investors from around the globe managing assets exceeding US$1 trillion. The exhibition featured 65 unicorn companies with a combined market value surpassing US$400 billion.

Supporting Business Growth

The chamber's 'Business in Dubai' platform continues to assist companies looking to establish or expand operations in Dubai. It offers comprehensive institutional services through collaboration with 77 partners and provides business-matching services to help companies find suitable partners and investors.

In addition to these initiatives, the chamber organised 21 events during 2024 aimed at supporting businesses, empowering startups, nurturing talent, strengthening partnerships, and enhancing the business ecosystem.

Strengthening International Collaborations

The chamber signed a total of 12 Memorandums of Understanding (MoUs) with regional and international entities to bolster cooperation in key digital economy sectors. They also issued six economic reports reflecting Dubai's dynamic and resilient digital economy.

"The Dubai Chamber of Digital Economy is committed to ensuring the sustainable growth of digital economy sectors," said Omar Sultan Al Olama. "This will be achieved by enhancing infrastructure and regulatory frameworks that foster prosperity for companies specialising in future technologies."

With inputs from WAM