June 3, 2023

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Emirates News Agency – Dubai Digital Economy Chamber Expands Summit

Dubai, July 28, 2021 (WAM) – The Dubai Room for Digital Economy, one of the three chambers under the newly created Dubai Chambers umbrella, is hosting the region’s first expansion summit in January 2022. Capitalists (VCs) for financing start-ups

The summit will see the largest gathering of VCs and start-ups in the region, with 500 VCs and 1,000 tech start-ups expected to participate in the two-day event, which will include events, seminars, presentations, presentations, pitches and meetings.

It will lead the world’s most valuable and well-known venture capital firms and executives to build a network of international and local relationships dedicated to entrepreneurs, technology firms and specialized financial institutions. .

The summit will take place during Expo 2020 Dubai and will be coordinated with Expo 2020 Dubai, the Dubai World Trade Center, the Dubai Futures Foundation and the Dubai Tourism and Marketing Department.

Speaking on the Dubai Digital Economy Chamber and the Command of this Summit, Omar Samdel Al Olama, Chairman of the Dubai Digital Economy Chamber, said, “The Summit will serve as a catalyst for the digital economy to achieve its goal.

There will also be group discussions on important global topics such as global conference, business networking events, demo days, investment presentations and community capital, impact investment and environment, social and corporate management. The summit will feature an accelerator unit to help expedite the establishment of investment firms and start-ups in Dubai.

In 2018, the Dubai Chamber conducted a study on the biggest challenges for technology startups and ranked “financial access” as the second most difficult challenge, especially in the early stages. In this regard, the summit will provide timely action for start-ups to identify financial resources and establish links with VCs around the world.

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Start-ups from the United Arab Emirates and Dubai typically attract 50% of the total funds raised in the MENA region. The Dubai Chamber’s Dubai Start-up Hub has been instrumental in helping entrepreneurs move into the financial ecosystem and has received nearly 50 personal inquiries from VCs around the world, including North America, about start-up investment. In Dubai.

The Dubai Chamber for Digital Economy focuses on transforming the Dubai Emirate into a global hub for the digital economy. According to the latest figures, the digital economy contributes 4.3% to the UAE’s GDP, equivalent to AED100 billion.

There are more than 1,400 start-ups in the country, with an allocation of $ 1.5 billion. There are 90 digital sector investment funds and 12 business incubators and the total value of start-ups in the country is estimated at AED 90 billion.

Translated by: Mervat Mahmood.