Corporate leaders "Unicorn" They praise Dubai’s strengthening of its position as a global center for digital innovation and industry of the future
DUBAI, April 19, 2018 (WAM) – Leaders of billion-dollar “unicorn” companies, each worth more than one billion US dollars, confirmed that Dubai continues to consolidate its position as a leading global center for digital innovation and growth of technology companies, supported by an integrated business system that combines future legislation, advanced infrastructure, and openness to global talent.
They pointed out that the emirate has become a strategic platform for launching ambitious companies, as it provides a flexible and rapid environment that enables them to develop innovative solutions and expand to regional and global markets with confidence and efficiency, thus transcending its position as a destination for establishing businesses and turning into a global model in enabling the digital economy.
They praised the integration of efforts between government agencies and the private sector within the framework of the digital business system supported by the Dubai Chamber for the Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, stressing the importance of clear regulatory frameworks and easy access to decision-makers, all of which constitute integrated factors that enhance the ability of companies operating in Dubai to transform ambitions into actual and sustainable growth, and consolidate the emirate’s position as a global hub for creating the future.
Mohammed Ballout, co-founder and CEO of Kitopi, said: The digital business system in Dubai constitutes a fundamental pillar that has supported Kitopi’s growth path, as the emirate provides an integrated mix of future legislation, world-class infrastructure, and the ability to attract quality talent, in addition to a flexible business environment that enables companies to build, test and expand innovative solutions at an accelerated pace. Dubai’s broad connection with regional and global markets also constitutes a pivotal factor in expanding the horizons of the company’s ambitions outside the UAE.
He added that Dubai is not only characterized by flexibility, but is one of the most future-focused cities for developing digital companies, as it combines speed of achievement, unlimited ambition, and exceptional openness to innovative ideas, an equation that is difficult to replicate, which consolidates its position as a strategic launching pad for companies aspiring to innovate and expand globally.
Fernando Fanton, CEO of Products and Technology at Property Finder, stressed that Dubai is no longer just a destination for establishing a business, but has become the ideal center for building the future of business sectors, as it provides a unique combination that combines speed as a strategic approach and flexibility as an essential element in its structure, explaining that relying on the Dubai Economic Agenda D33 in addition to the priority of digital solutions, Dubai offers an advanced business system characterized by clear frameworks and a network of trusted partners with integrated platforms to enable innovation on a large scale.
He said: With the various successes in several areas, such as the Dubai Paperless Strategy, the growth in the adoption of artificial intelligence and “Web 3” technologies in the real estate sector, in addition to the programs with a future vision within the Dubai Digital Strategy, the city not only facilitates doing business, but also enables companies, investors, and regulatory bodies alike to make data-based decisions, expand the scope of their influence, and expand globally. For technology leaders and innovators aspiring to scale, Dubai provides the structural frameworks, momentum and vision needed to turn ambitions into actual growth.
He explained that the digital system in Dubai was a real enabler for the expansion of “Property Finder,” as it supported both the company’s business models and its innovations. He said: Regulatory frameworks that support innovation, such as the rental market data of the Dubai Land Department and real estate coding initiatives, contribute to providing the clarity necessary to develop digital real estate solutions with confidence. The emirate’s integrated and advanced digital infrastructure, coupled with a transparent regulatory framework, allows innovative tools to be tested, developed and scaled efficiently, while strong relationships with investors, including Mubadala, Blackstone and Permira, and regulators such as the Dubai Land Department, enable us to deal with any complexities and turn insights into actionable solutions.
He added: By taking advantage of these integrated capabilities, we have strengthened our strategy based on artificial intelligence through tools such as the “Super Agent” broker service, the first platform in the Middle East and North Africa region for classifying real estate agents supported by artificial intelligence, and “Credit Optimizer,” which helps users evaluate their ability to afford costs and improve financing options.
Roman Axelrod, founder and CEO of Expancio, said: Dubai offers an exceptional combination of well-established factors, including tax incentives, strong government support, and world-class infrastructure. These advantages are clear and widely documented, but the distinction lies in adopting a strategic approach that places deep technologies, science and artificial intelligence at the heart of the economic pillars, which is appropriate for the sector in which Expancio specializes, as we usually face difficulties due to the complexity of the nature of our business and what it requires of an advanced and integrated support system, including: A smooth logistical structure, a sustainable flow of attracting global talent, and close integration with academic institutions.
He stressed that Dubai has become a unique global forum in which companies and sciences integrate with government agencies in true harmony, providing a fertile environment for expanding the scope of complex and highly important innovations. He added: “We see this reality directly through our cooperation with the Dubai Chambers, the Mohammed bin Rashid Space Centre, and the University of Dubai, and our participation in the most prominent international technical conferences, in addition to access to global competencies, which allows us to expand at a pace that may take years in other places.”
He pointed out that the UAE is working to build a world-class digital system, which includes establishing the largest data centers for artificial intelligence, establishing the Mohammed bin Zayed University for Artificial Intelligence, and relying on artificial intelligence in all government services for the first time in the world.
He pointed out that Dubai is moving forward towards consolidating its position as a new global center for innovation, in a way that emulates the pioneering spirit that characterized Silicon Valley, while adhering to the principles on which it was founded, which are based on transforming difficult challenges into strategic opportunities through global partnerships.
The founder and CEO of Expansio explained that Dubai has transcended its traditional reputation as a global center for finance, trade, and logistics services, and today it has become an advanced innovation system with a future vision that attracts leaders of the technology sector, the most prestigious universities, and the most prominent companies such as Google, Microsoft, and OpenAI, thanks to its commitment to building and developing for the future. This long-term trend is one of the most prominent pillars that enhances Dubai’s flexibility and consolidates its ability to adapt to various transformations.
He pointed out that Dubai, despite the turmoil caused by global developments in the most volatile markets, continues to maintain its stability, supported by its great ambition and long-term strategic investments, including its leadership in artificial intelligence research at the global level, developing an advanced infrastructure for deep technologies and transforming innovation into an approach to institutional work, which ensures the sustainability of the growth path.
He stressed that the business system in Dubai is designed to support ambitions whose long-term effects extend for decades to come and not just short financial cycles, pointing out that the question before entrepreneurs today is no longer about whether Dubai is capable of supporting ambitious scientific research and development, but rather about the extent of the boldness of their ambitions and their ability to keep pace with Dubai’s vision.
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