RAKEZ: the UAE’s gateway to global technology and innovation

With an ambitious digital agenda, the UAE is rapidly developing an ecosystem that fosters collaboration between global technology leaders and local entrepreneurs. From building blockchain-based solutions to advancing AI-powered automation, the UAE is laying the foundations for long-term, sustainable growth in the IT sector.

Within the diverse regions of the UAE, Ras Al Khaimah stands out as an ideal hub for technology companies, especially those seeking access to MENA (Middle East and North Africa) markets. The Ras Al Khaimah Economic Zone (RAKEZ) has become a key enabler of this development, offering a comprehensive range of tailor-made solutions for companies operating in the IT and technology sectors.

There has been a surge in IT investment across the region in recent years, and RAKEZ is playing a key role in supporting this expansion. As an integral part of the UAE’s national innovation framework, RAKEZ is aligned with major government initiatives such as the UAE Blockchain Strategy 2021 and AI Strategy 2031. Through these alignments, the economic zone can offer an enabling environment for the development of IT and technology companies, while contributing to broader goals digital transformation of the United Arab Emirates.

Building a thriving technology ecosystem at RAKEZ

RAKEZ already has over a hundred technology companies spanning sectors such as IT services, technology consulting, computer programming, EdTech, cybersecurity, e-commerce logistics and AI/ML solutions. These companies enjoy many benefits, including the advantage of operating costs that are up to 40 percent lower than in other regional markets. This cost advantage allows startups and SMEs to scale flexibly, turning innovative ideas into reality at a fraction of the cost.

The flexibility that RAKEZ provides in terms of business activities is another factor influencing its attractiveness. IT companies can sign up for a variety of activities, including supply chain optimization services, speech recognition technology, virtual classroom solutions, encryption and data protection services, gaming software licensing and digital health record management. Moreover, business registration, licensing and visa processes are streamlined to adapt to the unique needs of technology enterprises.

RAKEZ also offers coworking spaces and private offices, serving companies of all sizes – from start-up entrepreneurs to established IT companies. Through dedicated mentoring programs, companies at RAKEZ gain access to valuable guidance from industry experts and thought leaders. Additional support services, such as networking events and advisory support, help support growth by connecting technology companies with key stakeholders across the industry.

Several companies have already seen great success with RAKEZ, including Falcons.AI, ComStar Security, Knightrider Technologies, and Caresoft Global. RAKEZ partnerships with international IT companies, research institutions and innovation centers, such as the collaboration with The Dollar Business, further increase the region’s credibility as a dynamically developing technology center.

Looking to the future, RAKEZ’s vision is to further develop its IT ecosystem, especially in cutting-edge fields such as artificial intelligence, machine learning, cybersecurity and EdTech. Future plans include expanding coworking spaces to attract more digital nomads and tech entrepreneurs. This is in line with RAKEZ’s ambition to not only grow with the technology industry, but also lead innovation and digital transformation in the region.

The economic zone’s ability to adapt to industry changes while focusing on new technologies ensures its long-term competitiveness in an ever-changing IT landscape.

RAKEZ’s active involvement in events such as GITEX Global, which will take place on October 14-18, 2024, underlines its commitment to being part of the global IT conversation. GITEX Global, one of the largest technology exhibitions in the world, provides the ideal platform for RAKEZ to showcase its potential to global innovators and technology entrepreneurs. IT professionals, entrepreneurs and investors participating in GITEX Global are invited to meet with RAKEZ representatives to learn about the wide range of business opportunities in the zone.

Visit the RAKEZ stand at Dubai World Trade Center during GITEX Global 2023 in Hall 2, next to Hall 7, to discover unlimited investment and development opportunities in the UAE’s technology sector. RAKEZ experts will be on hand to provide guidance and insight to entrepreneurs and tech investors and present exclusive start-up packages throughout the event.

As the UAE strengthens its position as a global leader in innovation and technology, RAKEZ plays a key role in driving technological development. With top-notch infrastructure, tailored solutions and limitless opportunities, RAKEZ enables technology companies to scale new heights and thrive in the ever-evolving digital landscape.