The Dubai International Financial Centre (DIFC) will build a ‘Dubai AI & Web 3.0 Campus’, the largest cluster of artificial intelligence and tech companies in the MENA region, with the aim of attracting more than 500 startups by 2028.
The new initiative will attract $300 million in collective funds, more than 500 global AI and Web 3.0 start-ups, and create over 3000 jobs by 2028, Essa Kazim, Governor of DIFC, said.
AI is expected to inject AED103 billion into the UAE economy by 2035 and contribute 14% to the country’s GDP by the end of the decade.
A dedicated campus spanning over 100,000 sq. ft. will be set up in the DIFC premises for entrepreneurs, disruptors and engineers who possess a deep passion for 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 continued to grow at record-breaking pace in 2022.
The fastest growing sector in DIFC with 686 associated firms, FinTech and Innovation saw funds of over $615 million raised in the Centre during 2022.
The total number of active registered companies in DIFC grew to 4,377 in 2022, up 20% from 3,644 in 2021.
During 2022, 1,084 new companies registered in DIFC, surpassing 1,000 for the first time in history.
(Writing by Seban Scaria; editing by Daniel Luiz)