H.H Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum launches Dubai Future District Fund to support Seed to Growth stage startups with AED1 Billion.
The fund is a key pillar of the Dubai Future District, and it aims to support and accelerate Dubai’s positioning as a leading global start-up hub and attract innovators and entrepreneurs to pioneer emerging technologies to help develop the future of finance and new economic sectors.
The emerging technologies the fund is investing in include: Artificial Intelligence, Augmented Reality, Data Analytics, Blockchain, 5G, IoTs, Cloud Computing, Cyber Security, and Robotics.
The fund aims to:
- Increase startup investments from AED 1.5 billion to AED 4 billion.
- Anchor VC firms from around the world.
- Provide multiple financing options for emerging tech-startups in Dubai and the region.
- Drive private and foreign investments in the future of of finance and future economy companies and startups in Dubai.
The support and efforts to implement the directives of H.H Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum hope to establish 1,000 tech companies in the country within five years.