July 20, 2024

For aiding AI as well as blockchain powered start-ups, UAEs top premier institutions DIFC and Dubai Future Foundation partner with each other

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For aiding up the Blockchain as well as Artificial Intelligence powered start-ups by the emirate are seeking in order to attract advanced technology firms, the two premier institutions Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF) have signed an agreement.

This MoU within the two-forward looking institutions will thereby advance innovation agenda within Dubai, as well support in engagement of financial technology community via scaling as well as opportunities inclined to training.

DIFC stated in its statement during Saturday that “this agreement will in turn witness the two entities partnering for a collective technology acceleration programme, that will position UAEs start-ups on road to a “Dynamic Expansion strategy.”

It acts as third-biggest arena thereby hugely contributing to the Dubai’s Gross Domestic Product (GDP). The Financial hub of the Middle East, the UAE as a core territorial economy, is hugely focussed for attracting as well as overall expansion of FinTech (Financial Technology) arena.

During the first half during this year, the overall account of the firms operating within DIFC surged by 25 percent, and within 2024, the overall size of the financial zone is all set to get tripled. During the first half, DIFC has lured in 310 latest firms, thereby bringing total number of firms inside the free zone region to 2,584. The DIFC is now apparently, housing in excess of more than 200 firms.

Khalfan Belhoul, chief executive of Dubai Future Foundation, stated that “by working in close tandem with the DIFC, we are pursuing to accelerate better business opportunities for the territory, attraction of better start-ups as well as talents, deploying of better innovation as well as technology, thereby enhancement of a powerful financial sector as well as providing better tools as well as skill sets for enabling future-ready generation next.”

Arif Amiri, chief executive of the DIFC Authority stated that “they have set their eyes firmly on their future, and that they are hugely committed for driving in their expansion within the Finance Sector with the adoption of better innovation, adoption of technology as well as training and that the investment for human capital initiatives with the Dubai Future Foundation is extremely crucial from their overall strengthening up of base across the Middle East.”

The agreement also outlines plans in imitation of disseminate empiric training programmes at the DIFC Academy. This consists of coding publications such as much Full-Stack Web Development and as well as App Development. These desires support the DFF’s One Million Arabian Coders initiative, as was launched between 2017.

DIFC then DFF intention also collaborate about research then development programmes including main research or technical institutes.

The instant agreement will witness the DFF develop the DIFC Innovation License in conformity with its partners yet programme participants. DFF suggested DIFC would additionally stand an essential piece over the Dubai Future District, a place connecting the economic fair zone, Emirates Towers or the Dubai World Trade Centre announced alongside a Dh1 billion Future Economy possessing into January.

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