University Of Dubai Launches AED 100 Million Fund To Support Deep Tech And AI Startups

The University of Dubai has introduced the "Dubai Tech X Fund," a AED 100 million initiative aimed at supporting startups in deep technology and artificial intelligence. This move is part of a larger plan to enhance innovation and entrepreneurship in the UAE and surrounding regions.

Rashid Ahmad bin Fahad, Chairman of the University of Dubai Board of Trustees, stated: "The launch of the Dubai Tech X Fund marks a new milestone in the University’s journey to foster innovation and support a knowledge-based economy. We believe that the partnership between education and investment is the most powerful path toward building a sustainable technological future that aligns with Dubai and the UAE’s vision to be a global hub for advanced technology."

The fund aims to establish a sustainable ecosystem by merging academic excellence with venture investment and entrepreneurship. It seeks to position Dubai and the UAE as leading centers for tech entrepreneurship globally. The initiative will focus on sectors like energy, healthcare, education, and smart cities, emphasizing deep tech and AI as key growth drivers.

Dr. Eesa Bastaki, Chairman of the University of Dubai, highlighted: "This fund embodies our commitment to accelerating the transformation of research into commercial applications and impactful startups. Our goal is to make the Dubai Tech X Fund a platform that brings together students, researchers, entrepreneurs, and investors to shape the next generation of innovation."

The creation of this fund results from a strategic partnership between the University of Dubai and Significa Ventures. Significa Ventures is known for its pioneering role in Corporate Venture Capital programme development in the region. This collaboration offers an integrated platform that connects academic research with practical application and investment capital.

The fund's objective is to invest in startups providing innovative solutions across various strategic sectors. By doing so, it aims to support innovators who are developing cutting-edge technologies that can drive future growth.

This initiative underscores Dubai's commitment to becoming a global hub for advanced technology. By fostering partnerships between education and investment, it aims to build a sustainable technological future aligned with regional visions.

With inputs from WAM