380% Year-Over-Year Growth Achieved in 2024
The Dubai Chamber of Digital Economy said that it has achieved major progress in supporting the growth and expansion of digital startups in the emirate. Between Q1 and Q3 2024, the chamber assisted in establishing and expanding 485 digital startups, indicating a whopping 380% year-over-year growth compared to the same period in 2023.
PC: USGBC
This growth accentuates the chamber’s intent and commitment to fostering a resilient digital ecosystem in Dubai. Among the supported startups, those specialising in Artificial Intelligence (AI) and machine learning comprised 11%, followed by Fintech at 9%, Software as a Service (SaaS) at 7%, Technology, Media and Telecommunications (TMT) at 7%, and health tech at 7%.
Training Emirati Talent in Digital Skills
As part of its efforts to enhance digital capabilities in the UAE, the chamber trained 787 Emiratis on coding and mobile app development under the ‘Create Apps in Dubai’ initiative during the first nine months of 2024. This initiative aims to train 1,000 Emiratis by 2025 to triple the number of app developers in Dubai and support the development of 100 new national mobile application projects.
Visionary leadership leads to Digital Growth
His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy, emphasised that the chamber embodies the vision of HH Sheikh Mohammed bin Rashid Al Maktoum. The chamber holds a very important position in building Dubai as a world capital for the digital economy, Al Olama said.
He further stated, “Accelerating the emergence of digital enterprises and scaling their growth will play an important role in our efforts toward the Dubai Economic Agenda (D33), which seeks to achieve an average annual contribution of AED 100 billion to the economy of Dubai through digital transformation initiatives.
During the first nine months of 2024, Dubai Chamber of Digital Economy organised 20 events to empower startups, nurture talent, and strengthen Dubai’s business ecosystem. It also conducted 22 international tours to promote Dubai’s advanced digital business infrastructure and highlight Expand North Star, the world’s largest startup and investor event, which concluded in October.
The chamber signed five Memorandums of Understanding with regional and global entities to boost collaboration in critical digital economy sectors. Additionally, it issued three reports and studies that reflected the resilience and dynamism of Dubai’s digital economy.
Supporting App Development with ‘Create Apps in Dubai’
The ‘Create Apps in Dubai’ initiative, led by the chamber, aims to capitalise on growth opportunities by providing a strong digital infrastructure, creating supportive legislative frameworks, and offering government incentives. These efforts align with the chamber’s strategic priorities and commitment to accelerating the sector’s growth.
The chamber’s achievements demonstrate its pivotal role in attracting foreign direct investment, strengthening Dubai’s digital business ecosystem, and supporting the UAE’s leadership vision for a thriving digital economy.
