Dubai’s dynamic tech ecosystem was front and centre at London Tech Week 2023, which provided an ideal platform for industry players to showcase the strong value proposition and competitive advantages that the emirate offers startups, scaleups, unicorns, VCs and talent from around the world. Judging by the high volume of visitors to the Dubai stand at the event, it’s safe to say that global interest in Dubai as a tech and innovation hub has never been higher.
Tech start-ups in Dubai are prospering, empowered by an innovation-focused ecosystem that is being backed by the landmark investments, initiatives and transformative projects set out in the Dubai Economic Agenda 2033 (D33), that are designed to position the city as a preferred hub for international high-tech and digital businesses. Two exciting announcements were made on the side-lines of London Tech Week 2023 that are expected to pave the way for expanded collaboration between business communities in Dubai and the UK.
- Dubai Department of Economy and Tourism (DET) signed a memorandum of understanding (MoU) with Lloyd’s, the world’s largest insurance and reinsurance marketplace, which will strengthen Dubai’s value proposition as a regional hub for innovation driven insurance and reinsurance companies. The strategic partnership will give Dubai-based start-ups access to the award-winning Lloyd’s Lab accelerator in London, equipping them with further knowledge and tools to build and scale new tech-based products and solutions. The programme will also benefit international start-ups already part of the Lloyd’s Lab, providing them access to bespoke support to set up operations in Dubai and capitalise on growth opportunities across the MEASA region.
- Dubai International Chamber, one of three chambers operating under Dubai Chambers, inaugurated its first European Representative Office in London, marking an important milestone between Dubai and the UK. The Chamber’s London office will focus on supporting UK-based businesses, including tech startups and scale-ups, that are looking to expand or relocate to Dubai, where they can seek out exciting new opportunities and grow their business internationally. London and Dubai share many synergies as financial and tech hubs, and the new office will help build on strong ties that the two business communities already share and boost bilateral trade and investment flows.
These important developments will support Dubai’s ambitions to generate new economic value from digital transformation, at an average of $27.2 billion annually within 10 years, turn 30 startups into global unicorns by 2030 and create 40,000 virtual jobs by the same year. As technology continues to drive systemic change across sectors, society and the environment, Dubai’s economy will remain at the forefront of this transformation.
Learn more here (https://www.visitdubai.com/en/invest-in-dubai/).
By: London Tech Week
Originally published at London News
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