GITEX 2020: The Future Looks Bright for Dubai’s Tech Sector
Dubai, United Arab Emirates, 16 December, 2020: In a technologically turbocharged world, the UAE has reinforced its status as a global hub for collaboration, entrepreneurship and innovation, according to Dubai Internet City.
Following its successful participation at GITEX 2020, the region’s largest business community for talent and technology hailed the first in-person global tech event for underscoring the depth of intellectual capital in the region. And as a challenging year draws to an end, confidence that we can look forward to a brighter future in 2021 and beyond is rising.
To capitalise on this optimism, companies need an enabling ecosystem with state-of-the-art infrastructure and business-friendly rules and regulations; a place without red tape to encourage the full spectrum of innovation – from startups and entrepreneurs, to freelancers and multinational corporations – and help them attract investment, scale up, create new jobs and enter new markets.
This is the environment that Dubai Internet City has created since 1999. The community is already home to tech giants such as Google, Microsoft and IBM, and could be home to more than 10 tech unicorns – companies with a valuation of over $1 billion – in the next decade. It has already witnessed major homegrown success stories such as the acquisitions of Careem and Souq by Uber and Amazon respectively. Two new Dubai tech unicorns were also created this year, when the parent companies of dubizzle and Buyut merged and Yalla Group floated on the New York Stock Exchange – highlighting that ample opportunities exist for innovators and risk-takers, despite unprecedented global disruption.
Ammar Al Malik, Managing Director of Dubai Internet City, said: “The UAE’s agile and resilient tech industry has taken a big step forward in restoring business confidence by demonstrating that Dubai is open for business and poised to bounce back. We are optimistic about the future and believe our healthy ecosystem will continue to be a place for strong business activity in the coming decade, as companies continue to build and invest in digital transformation.
He added: “GITEX 2020 reflects the determination of our leaders to overcome this difficult year and put technology at the heart of plans to renew and revitalise smart economies around the world. It has also shown that we are comfortable meeting in person and are ready to return to work.”
A Community ‘Where Minds Click’
Dubai Internet City’s pavilion at GITEX 2020 featured several key stakeholders in the innovation ecosystem: students, local startups, regional SMEs and global multinationals, demonstrating how the community’s unique infrastructure connects talent and companies of all sizes.
Among the technologies on display were innovative solutions from in5 Dubai startups TOYIT, Ojo, and MeStar Technology. Established in 2013 to develop the region’s startup landscape, in5 has so far helped more than 300 startups across the tech, media and design industries raise over AED 465 million in funding.
On the other hand, cutting-edge design concepts were showcased by students from the Dubai Institute of Design and Innovation (DIDI), alongside key technologies from Anghami, HTC Vive, Zoom, Xiaomi, and TomTom.
A seismic technologic shift caused by the pandemic, coupled with highly-skilled talent, an entrepreneurial spirit and an investor-friendly business ecosystem where great minds click means Dubai Internet City will continue to be a catalyst for new ideas in the future.