Dubai's AI & Web 3.0 Campus aims to attract over 500 companies by 2028
Dubai’s AI & Web 3.0 Campus aims to attract over 500 companies by 2028
Dubai International Financial Centre (DIFC) on Monday announced it would build the ‘Dubai AI & Web 3.0 Campus’, the largest cluster of artificial intelligence and tech companies in the MENA region.
The campus, to be built under the directives of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the DIFC, has plans to expand into over 100,000 sq. ft. in the next five years. Located at the DIFC Innovation One premises, it will focus on the use of AI and Web 3.0 in the financial services industry. The ‘Dubai AI & Web 3.0 Campus’ will be home to visionary entrepreneurs, disruptors and engineers who possess a deep passion for emerging technologies. The campus will provide world-class physical and digital infrastructure including R&D facilities, accelerator programmes and collaborative workspaces, to attract, build and scale AI companies.
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Essa Kazim, Governor of DIFC, said: “DIFC’s 2030 strategy is central to shaping the future of finance and innovation. AI is expected to inject Dh103 billion into the UAE economy by 2035 and contribute 14 per cent to the country’s GDP by the end of the decade. The Dubai AI & Web 3.0 Campus will significantly contribute to this growth as a global nexus for R&D, investment, and innovation by attracting over $300 million in collective funds, 500+ global AI and Web 3.0 start-ups, and create 3000+ jobs by 2028.”
DIFC’s 2030 strategy is centred around driving the future of finance through cutting-edge technology, innovation, and partnerships. DIFC’s Innovation Hub 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 fastest growing sector in DIFC with 686 associated firms, FinTech and Innovation saw funds of over $615 million raised in the Centre during 2022.
The ‘Dubai AI & Web 3.0 Campus’ will act as a catalyst for growth, attracting global innovators, start-ups, and industry leaders to establish a vibrant ecosystem of AI-driven initiatives within the region. AI & Web 3.0 companies will also benefit from a sector-specific dedicated licensing and regulatory framework, in addition to leveraging DIFC unique soft infrastructure.
Arif Amiri, Chief Executive Officer, DIFC Authority, said: “At DIFC we believe that being at the forefront of tech innovation and AI advancement is imperative as we pave the way for a digitally empowered future of finance. 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. 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.”
By seamlessly integrating physical and virtual infrastructures, the Dubai AI & Web 3.0 Campus is on track to emerge as the preferred headquarters for leading AI and Web 3.0 companies and venture capitalists operating in the region.
source: khaleejtimes
