Dubai has grown superior over other cities in the world when it comes to technology and business innovation. It has become a magnet for technology firms, thus generating more jobs which further strengthens Dubai’s economy and related sectors. Technology innovation is at the heart and soul of the city.
Dubai technology innovation (Source: Dubai Police
Dubai technology innovation (Source: Pinterest
How did Dubai exactly do it? In a capsule, it’s all about the investments that the government brings.
Back in 2014, the government planned to include a massive center of communication and technology facilities spanning 150,000 square meters, which will be taken from an AED 4.5 billion investment. It was also set to expand the Dubai Design District to produce incubation centers for creative entrepreneurs.
Dubai technology innovation with Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum (Source: Gulf News)
At the time, the UAE government declared 2015 as the Year of Innovation to fulfil to the potential of the city in tech innovation. Events like the Defence Innovation and Technology Conference, The Abu Dhabi Solar Challenge, Zayed Future Energy Prize, Innovator and Mohamed Bin Zayed International Robotics Challenge were important benchmarks in keeping the interest of more investors to transform Dubai.
It became even more exciting when a new fund was launched in November of 2015 to enhance funding opportunities in areas of innovation. From the the Sheikh Mohammed Bin Rashid Al Maktoum Fund was a new fund called Finance Innovation worth AED 2 billion.
Dubai technology innovation with Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum (Source: UAE Innovates)
Dubai technology innovation (Source: EMAAR)
Notably, startups and entrepreneurs are also much more engaged with Dubai because of the tax laws on income – earners get to enjoy all of their income.
There is no stopping Dubai in becoming the world’s first smart city with all the on-going and planned future developments. Despite the lead in tech innovation, Dubai is still looking forward to move past other cities as the most innovative – which is also a part of the efforts in UAE’s Vision 2021.
