Key Takeaways
- Dubai Internet City has significantly boosted Dubai’s GDP by AED 100 billion over 15 years, according to a new study involving Accenture.
- The tech hub contributes 65% of Dubai’s technology sector GDP and supports strategic initiatives like Dubai Economic Agenda ‘D33’.
- Ammar Al Malik emphasized the hub’s role in nurturing tech innovation and fostering economic sustainability.
- Since its establishment in 1999, Dubai Internet City has created over 125,000 jobs and supported talent development with AED 1.6 billion in investments.
- Women make up over 25% of the workforce, with a notable increase in women-run start-ups since 2021.
- Start-ups and entrepreneurs in Dubai Internet City have raised AED 8 billion, contributing to the growth of notable unicorns such as Careem and Souq.
- The community includes global leaders like Oracle, SAP, Google, and others, supporting innovation through dedicated R&D Centres.
Dubai Internet City (DIC) stands as a monumental example of strategic foresight and innovative planning, fundamentally reshaping the economic landscape of Dubai. Over the past 15 years, DIC has made an impressive contribution of AED 100 billion to Dubai’s GDP, spotlighting its role as a powerhouse in technology and economic growth. In this blog post, we’ll explore the underlying factors of this success story, its economic ramifications, and the vibrant community that continues to drive forward the future of technology and business.
The Economic Impact: A Growth Engine Unleashed
AED 100 Billion Contribution
Dubai Internet City’s significant contribution to the GDP highlights more than just financial prosperity; it underscores the establishment as a cornerstone for technological advancement and economic resilience in the region. Partnering with Accenture, the study that revealed these numbers notes DIC’s integral presence in Dubai’s booming tech industry.
Strategic Alignment with Dubai Economic Agenda ‘D33’
The tech hub furthers Dubai’s ambitious strategy, supporting the Dubai Economic Agenda ‘D33’. By accounting for 65% of Dubai’s tech sector GDP, DIC ensures that Dubai remains at the forefront of global tech innovation and economic sustainability.
Nurturing Innovation: Community and Ecosystem
The Role of Ammar Al Malik and TECOM Group
Ammar Al Malik, Executive Vice President of Commercial at TECOM Group, plays a critical role in empowering the city’s tech infrastructure. He emphasizes the significance of Dubai Internet City in nurturing disruptive innovation and technology driven by a visionary ethos oriented toward sustainable prosperity.
A Job Creation Powerhouse
Since its inception in 1999, Dubai Internet City has been instrumental in creating over 125,000 direct and indirect jobs. It continues to bolster talent by investing AED 1.6 billion in various training and development initiatives. This focus ensures a competitive, skilled workforce ready to tackle the challenges of tomorrow.
Empowering Diversity: Women and Start-Ups
Women in Tech
Women represent over 25% of DIC’s workforce, signaling strides towards gender balance and diversity in the tech industry. Notably, there has been a marked increase in women-led start-ups since 2021, clearly illustrating an encouraging trend that supports gender inclusivity.
Start-up and Entrepreneurial Success
Start-ups and emerging entrepreneurs in DIC have successfully raised AED 8 billion in funding. This ecosystem has nurtured successful unicorns like Careem and Souq, showcasing DIC’s supportive environment for innovation and entrepreneurship.
A Hub of Global Leaders and Innovation Centres
Home to industry giants such as Oracle, SAP, Google, and others, Dubai Internet City functions as a collaborative environment conducive to innovation and technological advancements. The presence of R&D Centres facilitates ongoing research and development, propelling Dubai into a future of unlimited possibilities.
A Legacy of Innovation and Growth
Dubai Internet City’s legacy is one of transformation and forward momentum. As a dynamic tech hub, its contribution to Dubai’s economy and the global tech landscape is invaluable. The collaborative environment nurtured by DIC ensures the continuity of innovation, scaling new heights in economic, technological, and societal growth.
