Dubai new Silicon Valley, all the opportunities for startups

According to the Magnitt website, one of the main sources of information in the Gulf area, investments in the United Arab Emirates last year, between the incubators that give the initial boost to technology companies and the accelerators that aim to grow the companies started, have exceeded 100 million dollars, for a population of just 10 million inhabitants, against, for example, the 750 million in Italy, which has a population 6 times as numerous.

The four day work week

Also in the wake of this vision of becoming the Silicon Valley of Euro-Asia, Dubai starting next year even changes its weekend, from the traditional Friday and Saturday, starting the week on Sunday, as it has always been in the Arab world, to ‘Western Saturday and Sunday public holidays, but also adding Friday as a semi-public holiday and thus making the United Arab Emirates the first country, which is also an economic superpower, to officially adopt, with a state law, the short working week made up of 4 days, from Monday to Thursday. It is the latest step in the campaign to attract the brains and the best innovative startups in the world to Dubai, even the Italian ones who enjoy a very high reputation here in the Middle East.

New professional figures

The United Arab Emirates have set aside an impressive communication and financial campaign to attract and open the most interesting projects in Dubai. “But you need to be present in the area, participate in fairs and have networking opportunities with local stakeholders” explains Gianluca Marano, founder and CEO of SVA Group, who has been present in the UAE for many years and has launched the figure of External Export Manager, who takes care of finding contacts and commercial partners and then takes care of relations with them. “We are much more than a consultant – says Marano – SVA Group is a foreign office directly in the Dubai market. We are an External Export Manager, in the sense that we operate remotely, with a team in Dubai, but it is as if we were an integral part of the startup “.

A thousand new tech companies in five years

The Economic Plan 5050 recently examined in UAE aims to transform the economic fabric of the country from a petroleum industry and related services, into a digital economy focused on technology and innovation. Dubai Future, which has an initial fund of over 240 million euros but which will gradually increase to 1 billion to support technology startups based in Dubai, aims to make the city an environment capable of attracting talent and have 1,000 technology companies active in the area over the next five years. Dubai received an incredible boost from the Expo, the first universal exhibition held in the Middle East and the most cited event on Twitter in 2021: despite the pandemic still in progress, it exceeded 6 and a half million visits. The Jubilee of the United Arab Emirates also took place last December 2, a country that did not exist only 50 years ago and today imagines and creates the future. Also for this reason, UNESCO has chosen this date, the day of the anniversary of the Emirati foundation, as the International Day of the Future, inviting us to follow the example of Dubai in the farsightedness of adopting policies aimed at the next generations.