Venture Capital

Dubai Chamber to host summit to attract venture capitalists

Read more at gulfnews.com

Dubai: Dubai Chamber for Digital Economy – one of the three new chambers formed under Dubai Chambers’ umbrella – will be hosting Expand Summit, to attract Venture Capitalists (VCs) for financing start-ups.

The Summit will be held in January and host around 500 VCs and 1,000 start-ups in the region. The two-day programme will also include presentations, demos, pitches and meetings.

The summit aims to build a network of dedicated international and local relationships with entrepreneurs, technology companies and specialised funding agencies, for start-ups and entrepreneurs transform their creative ideas.

“The Summit will serve as a catalyst to help Dubai Chamber of Digital Economy achieve its goal of accelerating the growth of Dubai’s digital economy and doubling the number of digital companies operating in the emirate in the coming years,” said Omar Sultan Al Olama, Chairman of Dubai Chamber of Digital Economy,

The Summit will feature an accelerators unit that will allow venture capital firms and start-ups to fast-track the establishment of their businesses in Dubai.

The Dubai Chamber for Digital Economy is focused on transforming the emirate into a global center for the digital economy, which contributes about 4.3 per cent of the GDP in the UAE, or equivalent to Dh100 billion. There are more than 1,400 start-ups in the country, with Dh1.5 billion allocated to them. There are 90 investment funds in the digital sector and 12 business incubators and the total value of start-ups in the country is estimated to be Dh90 billion.

Read more at gulfnews.com

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