The Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has recently announced that it successfully supported 215 high-potential digital startups to establish and grow their businesses in the emirate during the first half of 2024, achieving an annual growth of 212 percent compared to the 69 companies it supported during the same period last year. The combined market value of the companies amounts to around $7 billion.
Key achievements
During the first six months of 2024, the chamber also trained 243 Emiratis as part of the ‘Create Apps in Dubai’ initiative, which was launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and is led by the Dubai Chamber of Digital Economy.
“We are strengthening our efforts to develop an ecosystem that promotes the growth of digital businesses, supports their expansion, and positions Dubai as the global capital of the digital economy,” stated Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy.
In addition, the chamber organized 12 international roadshows to promote Expand North Star, the world’s largest gathering of startups and investors which will take place in October.
Furthermore, the chamber further strengthened its presence as an organizer, strategic partner, and active participant in 15 local and international events during H1 of 2024.
“This comes as part of our drive to achieve the objectives of the Dubai Economic Agenda (D33), which seeks to generate an average of AED100 billion annually for the emirate’s economy through digital transformation projects,” Al Olama added.
Create Apps in Dubai initiative
The ‘Create Apps in Dubai’ aims to strengthen digital capabilities in the UAE and has set a target to train 1,000 Emiratis in cooperation with the private sector. The initiative aims to triple the number of app developers in Dubai by 2025 and support 100 new national projects for the development of cutting-edge mobile applications.
Spearheaded by the Dubai Chamber of Digital Economy, ‘Create Apps in Dubai’ seeks to capitalize on emerging growth opportunities in the sector by creating a strong digital infrastructure, establishing a legislative framework that supports application development, and providing government incentives to accelerate the sector’s growth. These efforts fall in line with the chamber’s strategic objectives.
Enhancing Dubai’s digital business ecosystem
The Dubai Chamber of Digital Economy also inked four agreements with different partners during H1 2024. The agreements aim to position Dubai as a digital hub and enhance the emirate’s digital business ecosystem.
The chamber also published during H1 two reports on the success rate of scaleups in Dubai and the FDI landscape in MENA, further positioning Dubai as a strategic destination for investment.
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