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New AI Campus To Bring 500 Startups To The UAE By 2028

June 20, 2023 thehrobserver-hrobserver-difc

The Dubai International Financial Centre (DIFC) will build a ‘Dubai AI & Web 3.0 Campus’, the largest cluster of artificial intelligence and tech companies within the MENA region.

The Dubai International Financial Centre (DIFC) will build a ‘Dubai AI & Web 3.0 Campus’, the largest cluster of artificial intelligence and tech companies within the MENA region.

The financial centre eyes to attract more than 500 startups by 2028, a US $300 million in collective funds, with this new investment.

DIFC are expecting than 500 global AI and Web 3.0 start-ups, which will create over 3000 jobs by 2028.

“DIFC’s 2030 strategy is central to shaping the future of finance and innovation. AI is expected to inject AED 103bn into the UAE economy by 2035 and contribute 14% to the country’s GDP by the end of the decade,” said Essa Kazim, Governor of DIFC.

“The Dubai AI & Web 3.0 Campus will therefore significantly contribute to this growth as a global nexus for R&D, investment, and innovation, set to attract over USD 300 million in collective funds, 500+ global AI and Web 3.0 start-ups, and create 3000+ jobs by 2028,” he added.

DIFC has the Innovation Hub that offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulations, innovative accelerator programmes and funding for growth-stage start-ups.  

The FinTech and Innovation has been the fastest growing sector in DIFC with 686 associated firms in the centre who fund-raised over US $ 615 million during 2022.

“The ‘Dubai AI & Web 3.0 Campus’ will act as a catalyst for growth by attracting global innovators, start-ups, venture capitalists, and industry leaders, as we establish MENA’s largest ecosystem for the AI and Web 3.0 sectors,” said Arif Amiri, CEO, DIFC Authority.

Therefore, the campus which will span over 100,000 sq. ft. is expected to be a place to attract entrepreneurs, disruptors and engineers who possess a deep passion for emerging technologies.

“By nurturing a collaborative environment, the Dubai AI & Web 3.0 Campus will accelerate the development of future-forward technologies and empower organisations to unlock the true potential of AI and Web 3.0,” he added.

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