Get All Access for $5/mo

H.H. Sheikh Mohammed Launches Dubai Future District With AED1 Billion Fund To Support "New Economy Companies" The fund will be used to support "new economy companies," which have the potential to boost the Emirate's future growth.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Twitter
Dubai Future District

The UAE government increases its focus on entrepreneurship as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced in a tweet the launch of Dubai Future District, supported by an AED1 billion fund.

The new district is set to debut in the space behind the Museum of the Future, and will connect DIFC, Emirates Towers and the Dubai World Trade Center. The fund will be used to support "new economy companies," which have the potential to boost the Emirate's future growth, as well as provide all kinds of support and facilities especially needed by tech startups in its early stages. In addition, H.H. Sheikh Mohammed stated that the new district is set to become the Middle East's largest future economy-focused district.

A committee has also been created to develop a new logistical and legislative framework to implement Dubai's goal of non-oil foreign trade of AED2 trillion by 2025. In support of this, 10 initiatives will be in the works to enable an ideal business-friendly environment in the region and globally- some of which includes establishing special five-year residency visas to future entrepreneurs, launch of innovation pilot areas for tech startups, reduced housing prices for "future economy entrepreneurs," and more.

Related: Five Ways The UAE Government Encourages Entrepreneurs

Business News

Looking for a Remote Job? Here Are the Most In-Demand Skills to Have on Your Resume, According to Employers.

Employers are looking for interpersonal skills like teamwork as well as specific coding skills.

Starting a Business

He Started a Business That Surpassed $100 Million in Under 3 Years: 'Consistent Revenue Right Out of the Gate'

Ryan Close, founder and CEO of Bartesian, had run a few small businesses on the side — but none of them excited him as much as the idea for a home cocktail machine.

Franchise

The Top 10 Coffee Franchises in 2024

From a classic cup of joe to a creamy latte, grab your favorite mug and get ready to brew up success with the best coffee franchises.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growth Strategies

"We Got Funded!" UAE-Headquartered Epik Foods' US$15.5 Million Investment from Ruya Fund is Set to Propel its Regional Expansion Goals

The group's investment news thus comes just days away from its first anniversary as a fully operational business.

Business News

Google Co-Founder Sergey Brin Is Back at the Company 'Pretty Much Every Day.' Here's What He's Working On.

Brin publicly confirmed for the first time that he's back at Google and working on AI.