The Dubai Future District Fund (DFDF) recently held its first annual general meeting at the Museum of the Future, where the committee reviewed its accomplishments to date and examined the ways to support technology companies in the early stage of their growth.
Headed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council and the Chairman of the Board of Trustees of the Dubai Future Foundation, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, the meeting also focused on how to aid these companies in future public listings on the Dubai stock market and to maximise investment prospects for their future endeavours.
“Driven by the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, Dubai has become an international gateway for ambitious investment opportunities, a hub for future-driven project funding and a global testbed for tomorrow’s technology and digital economy applications. The emirate provides the ideal environment for technology ventures to develop the highest standards of agility and transparency and create opportunities for individuals, organisations and societies,” said Sheikh Hamdan.
Sheikh Hamdan emphasised the need for increased involvement of Dubai government entities in achieving the objectives of DFDF. He also stressed the importance of expanding venture capital that focuses on future-oriented projects and strengthening Dubai’s position as a world-leading hub for entrepreneurship.
“As part of Dubai’s aim to transform itself into one of the world’s top digital economies, we continue to provide world-class regulatory frameworks and infrastructure designed to empower technology entrepreneurs and catalyse innovative smart projects, particularly those related to fintech and smart financing solutions,” he said.
He added, “Thanks to these efforts, Dubai has become an attractive destination for startups, experts, tech giants, coders and digital nomads, as well as fintech companies seeking to list on Dubai’s stock market.”
Sheikh Maktoum highlighted that Dubai is focused on accelerating the adoption of new technologies in various sectors to design and shape a sustainable future. This model is pivotal in the emirate’s endeavours to enhance economic growth, implement national initiatives and strategies, and improve UAE’s rankings in economic, digital, legislative, and future growth indicators.
“The Dubai Future District Fund embodies our commitment to support futurists, entrepreneurs, innovators, startups, and technology companies. It creates opportunities for businesses based in Dubai to grow and expand locally, regionally and globally by taking advantage of Dubai’s integrated systems, future-driven regulations and technological advancement,” Sheikh Maktoum added.
Further into the meeting, members of the DFDF committee discussed strategies to encourage other Dubai-based entities to collaborate and contribute to the Fund, which will assist in increasing its capital base in line with the objective of making Dubai the world’s top startup city.
DFDF’s investment portfolio comprises 16 startups and investment funds focused on future technologies, stock management solutions, the metaverse, digital content, banking, payments, real estate, healthcare, and artificial intelligence. It is anticipated that the worth of these investments will soar to $1.7 billion by 2025.
