Chamber Promotes North Star Expansion to 1,500 Startups and Investors

North Star connects the world’s most desirable startups with innovators. WAM

Dubai Chamber of Digital Economy, one of three chambers operating under the Dubai Chambers umbrella, and Dubai World Trade Centre have successfully completed a series of 12 international roadshows promoting Expand North Star, the world’s largest startup and investment event, which will take place at Dubai Harbour from 13-16 October this year.

The Chamber met with 1,500 startups in 12 cities in Poland, India, Brazil, China, Morocco, France, Switzerland, the UK and the Netherlands. The international roadshow initiated collaborative partnerships with ecosystem partners, including venture capital firms, incubators, accelerators and government-backed entities, to attract high-potential companies to Dubai.

Expand North Star, hosted by Dubai World Trade Centre and hosted by Dubai Chamber of Digital Economy, brings together the world’s most sought-after startups with innovators, investors, entrepreneurs and global success stories to explore exciting growth opportunities in Dubai and catalyse the future of the digital economy.

Each roadshow included a presentation on business opportunities in Dubai and how Dubai Chamber of Digital Economy can support startups in their expansion into the Dubai market. The events included a startup pitch competition and the winner from each city was selected to receive a fully sponsored visit and participation in Expand North Star. The four-day event plays a key role in attracting and connecting the global tech community to Dubai, providing a highly effective platform for networking, innovation and collaboration.

Dubai Chamber of Digital Economy is committed to driving the success of Dubai’s digital ecosystem and accelerating the emirate’s transformation into one of the world’s leading digital economies in line with the goals of the Dubai Economic Agenda (D33). Expand North Star is a key part of the chamber’s strategy to strengthen Dubai’s position as a leading global hub for innovation and advanced technologies, and drive sustainable economic growth and development in the emirate and beyond.

Dubai Chamber of Digital Economy recently announced that it has supported 215 high-potential digital startups to establish and scale their businesses in the emirate in the first half of 2024, achieving year-on-year (YoY) growth of 212% compared to the 69 companies supported during the same period last year. The companies have a combined market value of around $7 billion.

In the first six months of 2024, the chamber has trained 243 Emiratis under the ‘Create Apps in Dubai’ initiative, which was launched by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and led by the Dubai Chamber of Digital Economy. The chamber has also organised a total of 12 international roadshows to promote Expand North Star. The event, organised by Dubai World Trade Centre and hosted by the Dubai Chamber of Digital Economy, is the world’s largest startup and investor meet-up and will take place in October.

In addition, the chamber strengthened its position as an organizer, strategic partner and active participant in 15 local and international events in the first half of the year.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy, commented: “In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to consolidate the emirate’s status as the global capital of the digital economy, we are strengthening our efforts to develop an ecosystem that promotes the growth of digital businesses, supports their expansion and positions Dubai as the global capital of the digital economy. This is part of our commitment to achieving the goals of the Dubai Economic Agenda (D33), which aims to generate an average of AED 100 billion per year for the emirate’s economy through digital transformation projects.”

He added: “The Dubai Chamber of Digital Economy remains committed to further enhancing Dubai’s attractiveness to businesses and entrepreneurs across all technology disciplines. Our impactful programmes and initiatives are designed to develop the infrastructure, regulatory environment and services available to the digital sector in Dubai.”

“Create Apps in Dubai” was launched to strengthen digital capabilities in the UAE and aims to train 1,000 Emiratis in partnership with the private sector. The initiative aims to triple the number of app developers in Dubai by 2025 and support 100 new domestic projects to develop cutting-edge mobile apps.

The Create Apps in Dubai initiative, launched by the Dubai Chamber of Digital Economy, aims to capitalise on emerging growth opportunities in the sector by creating a solid digital infrastructure, establishing a regulatory framework to support app development and providing government incentives to accelerate the sector’s growth, in line with the Chamber’s strategic objectives.

The Chamber has signed four memoranda of understanding (MoU) with partners in the first half of 2024, aimed at strengthening the digital business ecosystem in Dubai and supporting the growth of digital enterprises and technology companies.

WAM