Expand North Star 2024, organized by the Dubai World Trade Centre and hosted by the Dubai Chamber of Digital Economy, has attracted 65 unicorns with a staggering combined valuation of $400 billion. Their presence highlights the significance of the event for leading global investors and digital enterprises across various sectors, Dubai Media Office reported.
CEOs of participating unicorn companies have expressed that Dubai serves as an optimal gateway for launching innovative digital initiatives on a global scale. Attendees lauded the emirate’s dynamic environment that fosters innovation and creativity, as well as its comprehensive business ecosystem that supports the aspirations of global firms focused on advanced technologies. These companies are developing unique solutions that leverage the capabilities of artificial intelligence (AI) across all industries.
The executives also commended the diverse international representation at Expand North Star, which offers a motivating platform for exploring the latest technological advancements and digital innovations. They emphasized that the exhibition has become a global hub for communication, collaboration, and the generation of innovative ideas, particularly for the fast-growing unicorn companies.
Flourishing ecosystem
During the exhibition, unicorn companies underscored Dubai’s achievement in cultivating a thriving digital economy through its initiatives to attract startups in various tech sectors. The CEOs highlighted the importance of Expand North Star in providing insights into cutting-edge developments within the technology landscape, especially in the rapidly changing realms of AI and blockchain. The event acts as a source of inspiration, showcasing technology’s transformative potential across multiple sectors.
Strategic hub for growth
Axelera AI, a developer of high-performance AI chips based in the Netherlands, views Dubai as a critical hub for its expansion in the Middle East. The CEO and co-founder pointed out that Dubai is a strategically significant location for software development and commercial growth, particularly due to its role as a gateway to rapidly expanding markets like India and Africa.
Significant growth opportunities
Billon, a Polish company specializing in secure data and document exchange through blockchain technology, shares similar sentiments regarding Dubai’s vibrant business landscape. The CEO noted the city’s exceptional ability to foster collaboration and attract global talent, describing Dubai as a truly remarkable city.
Romanian firm Lumen, known for its innovative assistive technology for the visually impaired, sees Dubai as the perfect launchpad for its groundbreaking ‘glasses for the blind.’ The CEO emphasized Dubai’s dedication to innovation and its strategic relevance, indicating that the emirate’s status as a global hub is indisputable and represents a crossroads of opportunity for companies looking to operate on a global scale.
Attracting talent and investment
The presence of these pioneering unicorns at Expand North Star underscores Dubai’s rising stature as a global tech powerhouse. It reflects the emirate’s commitment to fostering enabling ecosystems for international companies across diverse sectors, attracting investments and talent, while promoting innovation to empower the technology landscape in creating new solutions that enhance the effectiveness of key industries.
Expand North Star 2024 is the largest global event for startups and investors, running from October 13 to 16 at Dubai Harbour. This international gathering features over 1,800 exhibiting startups and more than 1,200 investors from over 100 countries.
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