Dubai Chamber Supports 215 New Digital Startups in the Emirate

Photo : Dubai Government Media Office

The Dubai Chamber of Digital Economy, part of the broader Dubai Chambers network, has made significant strides in supporting the emirate’s burgeoning digital sector. During the first half of 2024, the chamber played a pivotal role in establishing 215 digital startups within Dubai, marking a remarkable year-over-year growth of 212% compared to the 69 companies supported during the same period last year. The combined market value of these startups is estimated at approximately USD 7 billion.

The chamber's initiatives have not only facilitated the growth of these startups but also contributed to broader digital capabilities within the region. Notably, the chamber trained 243 Emiratis through its 'Create Apps in Dubai' program, an initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence. This program aims to enhance the UAE’s digital workforce by developing local talent in app creation.

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In addition to these training efforts, the Dubai Chamber of Digital Economy organized 12 international roadshows to promote Expand North Star, a major event hosted by the Dubai World Trade Centre in October. This event is recognized as the world’s largest gathering of startups and investors, showcasing Dubai's role as a leading global hub for digital innovation.

The chamber’s influence extended to 15 local and international events throughout the first half of the year, reinforcing its position as a strategic partner and active participant in the digital economy’s growth.

His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy, emphasized the alignment of these efforts with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. This vision aims to solidify Dubai’s status as a global digital economy capital and is a key component of the Dubai Economic Agenda (D33), which targets generating AED 100 billion annually for the emirate’s economy through digital transformation projects.

The chamber is also committed to enhancing Dubai’s appeal to tech companies and entrepreneurs by improving the digital infrastructure, regulatory environment, and support services available. This commitment is reflected in the chamber’s ongoing efforts to nurture and expand the digital business ecosystem in Dubai.

One of the notable programs, 'Create Apps in Dubai,' aims to significantly boost the number of app developers in the city by training 1,000 Emiratis and supporting the development of 100 new national mobile applications by 2025. This initiative seeks to capitalize on growth opportunities within the digital sector and is aligned with the chamber’s strategic goals.

During the first half of 2024, the chamber signed four memorandums of understanding (MoUs) with various partners to enhance Dubai’s digital ecosystem. Among these was an agreement with Enterprise Ireland, the largest venture capital institution in Europe by number of deals. This MoU aims to foster strategic partnerships and business opportunities between digital enterprises in Dubai and Ireland.

Additionally, the chamber published two reports on the success rates of scaleups in Dubai and the foreign direct investment (FDI) landscape in the MENA region, providing valuable insights into the evolving digital business environment.

Through these efforts, the Dubai Chamber of Digital Economy continues to drive innovation, support digital business growth, and reinforce Dubai’s position as a global leader in the digital economy.