The Dubai International Financial Centre (DIFC) plans to construct the ‘Dubai AI & Web 3.0 Campus,’ the MENA region’s largest hub for artificial intelligence and technology companies.
Their goal is to attract over 500 startups by 2028. The initiative will gather $300M in funds and aim to bring in more than 500 global AI and Web 3.0 startups, generating over 3,000 jobs by 2028, according to Essa Kazim, Governor of DIFC.
According to projections, AI will inject AED 103B into the UAE economy and contribute 14% to the country’s GDP by the end of the decade, by 2035.
A dedicated campus spanning over 100,000 sq. ft. will establish within the DIFC premises to accommodate entrepreneurs, disruptors, and engineers passionate about emerging technologies.
Arif Amiri, CEO, DIFC Authority, said: “The ‘Dubai AI & Web 3.0 Campus’ will act as a catalyst for growth by attracting global innovators, start-ups, venture capitalists, and industry leaders, as we establish MENA’s largest ecosystem for the AI and Web 3.0 sectors.”
“By nurturing a collaborative environment, the Dubai AI & Web 3.0 Campus will accelerate the development of future-forward technologies and empower organisations to unlock the true potential of AI and Web 3.0,” he added.
DIFC experiences growth
In 2022, the Dubai International Financial Centre (DIFC) experienced remarkable growth. The FinTech and Innovation sector emerged as the fastest-growing sector within DIFC, boasting 686 associated firms.
Additionally, This sector also witnessed impressive fundraising activity, with over $615M raised in the Centre throughout the year.
The total number of active registered companies in DIFC surged to 4,377 in 2022, marking a 20% increase from the previous year’s count of 3,644.
Moreover, 1,084 new companies registered in DIFC during 2022, surpassing the significant milestone of 1,000 registrations for the first time in history.
Dubai International Financial Centre (DIFC) is the leading financial hub for the Middle East, Africa, and South Asia. It comprises 72 countries with an approximate population of 3 billion and a nominal GDP of US$ 8 trillion.
