Dubai Digital

Dubai Digital Economy Chamber holds insightful workshop

The Dubai Digital Economy Chamber brought together leading entrepreneurs, venture capitalists and senior executives from venture capital and incubators for an insightful workshop. The workshop was held in response to the continued rapid growth of Dubai’s digital industry and the growing start-up culture in the emirate.

The event was the third in the Chamber’s series of interactive seminars on the role of various economic sectors and digital industries in Dubai’s digital economy.

H.E. Ahmad Bin Byat, Vice Chairman of the Dubai Digital Economy Chamber, said, “The Chamber plays a prominent role in engaging members and key stakeholders from various digital sectors so that together we identify challenges and opportunities to create an environment that truly promotes the growth of the digital economy and the role of advanced technology in society.

Dubai and the UAE have taken bold and rapid steps to establish frameworks, legislation and guidelines in many areas of the emerging digital economy. The digital industry seminar series allows for two-way feedback, helping us to make sure we are working on behalf of our business community, and giving our members the opportunity to voice their concerns, challenges and exciting plans for the future.”

The workshop discussed the challenges faced by venture capital firms and incubators, and how the Dubai Digital Economy Chamber and industry leaders can ensure that government policies, initiatives and strategies encourage innovation and favourable business conduct in this vital sector.

Participants discussed growth zones, the best ways to help each other and sustain positive growth in the sector, focusing on regulation, funding, talent and infrastructure as integral parts of the venture capital and incubator ecosystem.

Dubai is home to 39% of the fastest-growing start-ups in the MENA region, according to a study recently published by Dubai Digital Economy Chamber. The emirate has also attracted 57% of the total funding received by these startups, which is estimated at $5.2 billion.

As the start-up culture develops, business incubators are playing an increasingly significant role in supporting small businesses and start-ups, including creating an ideal environment for them. Venture capital funds and incubators support this sector with funding, doing all they can to help start-ups and SMEs grow, be profitable and withstand competition from larger market players.

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