Dubai Future Foundation & Richemont launch a new challenge
Dubai Future Foundation has announced the launch of a new, first-of-its-kind initiative in the region to encourage and support technology start-ups to participate in a special challenge to leverage the latest technology and innovation and contribute to the development of quality and innovative experiences for luxury brand buyers.
The competition is part of the Future of Luxury Retail start-up incubation programme organised by Dubai Future Accelerators, a Dubai Future Foundation initiative, in collaboration with Richemont Middle East, India & Africa [Richemont], and provides an opportunity for global entrepreneurs and start-ups to showcase their ideas and innovative solutions to develop the retail sector.
The innovative solutions will be developed as part of the Future of Luxury Retailing competition by participating start-ups in Area 2071, an innovation ecosystem in Dubai that brings together some of the brightest minds in the world.
The Dubai Future Foundation competition aims to redefine the experience of luxury shoppers and help Richemont use modern technology to analyse data, explore shopper behaviour and engagement, and improve communication across digital and traditional channels in innovative ways.
The solutions will support the development of personalised experiences that meet the needs of customers according to their preferences, and help brands improve experiences, develop marketing and sales strategies and increase revenues in the short and long term. Entrepreneurs and start-ups wishing to participate can register online HERE.
Abdulaziz Al Jaziri, Deputy CEO, Dubai Future Foundation, said: “The Future of Luxury Retail competition is part of Dubai Future Foundation’s efforts to strengthen partnerships with the private sector at local, regional and global levels and gives entrepreneurs and innovators the opportunity to launch new technology solutions from Dubai.”
For his part, Pierre Fayard, CEO of Richemont MEIA, said: “We are proud to partner with Dubai Future Foundation in launching this unique initiative in Dubai, which is regarded as one of the world’s top retail, retail and shopping destinations and the preferred destination for shoppers looking for a luxury retail experience.”
The Future of Luxury Retail competition launched on March 21, 2022 and participating entrepreneurs and start-ups can submit their entries until April 26, 2022, 11:59pm GST. The competition includes trial 1 on interactive product introductions through immersive in-store activations and trial 2 on data-driven personalisation with interpretive information to build customer relationships.
The Dubai Future Accelerators programme organises a series of specialised workshops, meetings and various professional and educational events in Area 2071 and provides an ideal opportunity to collaborate in finding solutions to various problems by exploring, developing and using future technologies.
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