LONDON/DUBAI: As advancements towards digital transformation and artificial intelligence (AI) redefine the business landscape across the world, Dubai Internet City, the Middle East’s leading technology-focused destination for 25 years, is showcasing pathways to nurture innovation for global good at London Tech Week on 10-14 June.
Joining forces with the Dubai Department of Economy & Tourism (DET), Dubai Internet City, part of TECOM Group PJSC and the region’s leading destination dedicated to the tech sector, is spotlighting how the city’s robust pro-innovation framework can contribute to the development and growth of the industry.
“Technology is already changing the ways in which we live, work, and invest, and the world’s most pressing challenges can be solved with creativity and ingenuity if the global talent pool of inventors and innovators is appropriately empowered,” said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC, on behalf of Dubai Internet City. “Start-ups and enterprises are rapidly providing globally pertinent solutions for sectors ranging from climate and healthcare through to finance and transport, and it is the responsibility of sector-specific ecosystems like Dubai Internet City to champion their growth.
“Strategic support is a crucial lever along this journey and be it the Dubai Economic Agenda ‘D33’ and Dubai’s Universal Blueprint for Artificial Intelligence (DUB.AI) in the UAE or the UK Innovation Strategy, future-focused governance is essential to encourage entrepreneurship. Dubai Internet City has built on such visionary programmes to enable the region’s digital transformation for 25 years. The UAE and the UK are leading examples of how homegrown knowledge can contribute to global growth, and Dubai Internet City is proud to bridge their visions for a prosperous future with technology at its heart.”
Dubai Internet City’s participation comes as the UAE and UK seek to strengthen cooperation in the fields of fintech, digital transformation, and entrepreneurship. Bilateral trade between the UAE and UK exceeds AED 113 billion and increased 2.6% in 2023 compared to 2022. The UAE is the UK’s 19th largest trading partner, and UAE exports to the UK increased by 5% in 2023. Its presence at London Tech Week also follows a successful appearance at GITEX Africa in Morocco, where Dubai Internet City reinforced the profound significance of collaboration through panel discussions and start-up showcases.
Catalysing Dubai’s digital transformation and the Middle East’s economic diversification since its formation in 1999, Dubai Internet City unites more than 3,500 industry leaders, such as Google, Microsoft, VISA, and MasterCard, to deliver globally impactful innovation. It is also the regional address of UK-headquartered tech giants such as industrial software leader AVEVA; threat detection and response giant Trellix; and commercial real estate technology expert Stak.
Dubai Internet City is also home to in5 Tech, a vertical under TECOM Group’s start-up incubator in5 that is dedicated to enabling tech-focused enterprises. Founded over a decade ago to nurture the region’s innovation economy, in5 has supported almost 900 start-ups since its inception.
in5 Tech noted a 13% year-on-year increase in its active start-ups to 270 in 2023 as total funding raised by in5’s enterprises since its inception reached AED 3 billion. The vertical is home to several British national-owned start-ups, such as ReflowX, which is transforming the energy sector’s procurement practices by providing an innovative online marketplace to facilitate transactions of new and unused surplus materials.
Dubai Internet City has accelerated the Middle East’s digital transformation drive for 25 years and is part of TECOM Group’s portfolio of business destinations, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, Dubai Outsource City, and Dubai Design District (d3).
