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Home page>PRESS RELEASE>Companies News>Dubai AI and Web 3.0 Cam...
UAE


DUBAI AI AND WEB 3.0 CAMPUS INTRODUCES SPECIALISED LICENSING SOLUTIONS FOR TECH
FIRMS LOOKING TO SCALE THEIR BUSINESS IN THE REGION


DIFC gate. Image courtesy: DIFC

The AI & Web3 License is a 90 per cent subsidised commercial license for
enterprises looking to setup their business in Dubai


Press Release

August 14, 2023

UAE

> PHOTO
> DIFC gate. Image courtesy: DIFC

 * The Dubai AI & Web 3.0 Campus will provide world-class physical and digital
   infrastructure to build and scale tech firms
 * The licenses will be issued out of DIFC with physical offices and co-working
   spaces in the Centre’s Innovation One building

Dubai, UAE:- The Dubai AI and Web 3.0 Campus has announced that it is issuing
artificial intelligence (AI) and Web3 licenses supporting activities ranging
from Distributed Ledger Technology Services, specialised Artificial Intelligence
Research & consultancies, IT infrastructure builders, Technology Research and
Development and Public Networking Services.

Licenses will be issued by Dubai International Financial Centre (DIFC), the
leading global financial centre in the Middle East, Africa and South Asia
(MEASA) region, which is currently home to an established ecosystem of tech
enablers and start-ups at the DIFC Innovation Hub.

The Dubai AI and Web 3.0 Campus is a dedicated campus for AI and Web3 innovation
and will provide state-of-the-art physical and digital infrastructure within the
DIFC Innovation One new premises, including R&D facilities, accelerator
programmes and collaborative workspaces, to attract, build and scale firms in
the region. The campus was launched earlier this year and is supported by
Dubai’s industry-leading regulatory regime aligned with the emirate’s vision of
becoming a global leader in AI and Web3.





PwC estimates AI to contribute USD15.7 trn to the global economy by 2030.
Another report by McKinsey determines that AI will create about 200,000 jobs in
the Middle East alone by 2025. Supporting this growth, the Dubai AI and Web 3.0
Campus is positioned to become the largest cluster of AI & Web3 companies in the
region attracting over USD300 mn in capital and creating 3,000 jobs by 2028. The
campus will also increase accessibility and participation in Web3 development,
backed by a collection of underlying technologies such as blockchain, AI,
internet of things and the metaverse. Virtual assets owned in Web3 decentralised
infrastructures represented about 40 per cent of the virtual-asset global
economy in 2021, according to a report by BCG, and the transaction value of
virtual assets is said to range between USD150 billion and USD300 billion by
2025.

Mohammad Alblooshi, Chief Executive Officer of the DIFC Innovation Hub, said:
“We are thrilled to announce that we are now granting innovative AI and Web3
companies licenses out of DIFC. The campus will foster a world-class nurturing
environment that enables business growth and development. We are confident that
by granting these licenses, we will attract more global talent and investment to
the region and create a culture of collaboration and innovation. This is a
notable milestone for the Dubai AI and Web3 Campus and will strengthen Dubai’s
position as the business destination of choice for technology-focused companies
and attract more world class talent and diversified investors to the region.”

For more information about the Dubai AI and Web 3.0 Campus and licensing
requirements, please visit: https://dubaiaicampus.com/





-Ends-

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced
financial centres, and the leading financial hub for the Middle East, Africa and
South Asia (MEASA), which comprises 72 countries with an approximate population
of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows
across the MEASA region, the Centre connects these fast-growing markets with the
economies of Asia, Europe and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a
proven judicial system with an English common law framework, as well as the
region’s largest financial ecosystem of over 39,000 professionals working across
over 4,900 active registered companies – making up the largest and most diverse
pool of industry talent in the region. 

The Centre’s vision is to drive the future of finance through cutting-edge
technology, innovation, and partnerships. Today, it is the global future of
finance and innovation hub offering one of the region’s most comprehensive
FinTech and venture capital environments, including cost-effective licensing
solutions, fit-for-purpose regulation, innovative accelerator programmes, and
funding for growth-stage start-ups.  

Comprising a variety of world-renowned retail and dining venues, a dynamic art
and culture scene, residential apartments, hotels and public spaces, DIFC
continues to be one of Dubai’s most sought-after business and lifestyle
destinations. 

For further information, please visit our website: difc.ae, or follow us on
LinkedIn and Twitter @DIFC. 

For media enquiries, please contact:   

Omar Nasro
ASDA’A BCW 
omar.nasro@bcw-global.com  

Rasha Mezher | Dubai International Financial Centre Authority  
Consultant, Marketing & Corporate Communications
t-rasha.mezher@difc.ae

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