Dubai Chamber of Digital Economy attracts 30 tech startups during Q1

Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has unveiled details of its key achievements during the first quarter of 2023. The announcement underlines the chamber’s commitment to boosting the digital economy in the emirate and supporting the ambitious Dubai Economic Agenda D33.

During the first three months of this year, Dubai Chamber of Digital Economy successfully cooperated with relevant government entities to attract 30 startups with strong potential in the technology sector as part of its efforts to develop the digital economy and enhance Dubai’s appeal to tech investors.

The chamber has also launched a new initiative to enhance communication with key stakeholders in digital business community, and organised a series of 10 interactive workshops for the private sector focusing on specific areas of the digital economy. The workshops explored the challenges facing the targeted sectors and helped develop appropriate solutions to support companies in improving their performance and competitiveness.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy, confirmed that realising the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for the emirate to be a global capital of the digital economy remains a top priority for the chamber both now and in the future, and that the private sector is a key player in achieving this objective.

“A main focus for the UAE is strengthening constructive dialogue with key segments of Dubai’s digital business community to determine opportunities, challenges, and recommendations,” Al Olama stated. “We aim to chart a roadmap for strengthening the emirate’s digital infrastructure, develop legislation that supports the growth of tech companies, and enhance the digital economy’s competitiveness and contribution to Dubai’s overall economic growth.”

The series of interactive workshops covered a wide range of digital economy sectors including 3D printing, social media, venture capital and business incubators, ecommerce, video games, the gig economy, financial technology (FinTech), the metaverse, cryptocurrencies, healthtech, artificial intelligence, and software development.

Dubai Chamber of Digital Economy is committed to supporting Dubai’s digital transformation and elevating the emirate’s position as a global capital of the digital economy. The chamber’s ambitious strategy aims to attract 300 new digital startups in the coming years. As part of these efforts, Dubai Chamber of Digital economy will host the Expand North Star Summit in October. The event, which is the region’s largest gathering of startups, will showcase growth opportunities emerging in Dubai’s digital economy and serve as a strategic catalyst to expand the future of digital economy.

Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, aims to strengthen Dubai’s position as a global leader in digital economy, attract specialised talent, leading companies and new investments and create a stimulating environment that supports the growth of digital companies.

Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has announced details of several notable achievements during the first quarter of 2023 as part of its ongoing drive to support Dubai’s development and economic aspirations, boost the competitiveness of the emirate and its private sector, and contribute to the goals outlined in the ambitious Dubai Economic Agenda (D33).

Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, commented: “Our primary focus at Dubai Chambers is to achieve the strategic priorities we have set as part of our strategy for the 2022-2024 period. Shaping the future requires concerted efforts and a unified vision to achieve the goals needed for the stages ahead.”

The chamber revealed that a total of 15,366 new member companies registered with Dubai Chamber of Commerce in Q1, 2023. This represents a record growth of 48.7 per cent compared to the same period last year, underlining the emirate’s strong appeal among investors and the competitiveness of its business environment.

The total value of exports and re-exports reported by members of Dubai Chamber of Commerce reached Dhs71.7 billion during Q1 of 2023, around 17.3 per cent higher than the Dhs61.1 billion recorded in Q1 of 2022. This positive growth reflects the chamber’s continuous efforts to support its members and their commercial activities in markets across the globe through its network of international offices, full calendar of events, and economic studies on business opportunities.