Dubai, a prominent city in the United Arab Emirates, has unveiled a strategic initiative aimed at cultivating a thriving ecosystem for artificial intelligence (AI) and Web3 businesses. As part of its efforts to establish the MENA region’s largest cluster of innovative tech companies, Dubai is extending commercial licenses to AI and Web3 enterprises with a substantial 90% subsidy.
The newly inaugurated Dubai AI and Web 3.0 Campus, envisioned as a burgeoning tech hub, has introduced this incentive to encourage companies to establish a presence within the city. The issuance of these licenses will be facilitated by the Dubai International Financial Centre (DIFC), reflecting Dubai’s intention to attract global talent and foster a diverse investor base.
The campus is thoughtfully equipped with advanced technological amenities tailored to cater to the targeted entrepreneurial community. Notable features include AI laboratory facilities, comprehensive training programs, hardware support, and accelerator initiatives.
This strategic maneuver underscores Dubai’s determination to emerge as a leading destination for AI and Web3 ventures, aligning with its aspirations to be at the forefront of technological innovation in the MENA region. The city’s commitment to providing substantial subsidies to these new-age enterprises demonstrates a proactive approach to fostering growth and attracting a pool of innovative minds and forward-thinking investors.