Dubai Offers 90% Registration Subsidy to Web3 and AI Companies
Dubai has announced a 90% registration subsidy for web3 and Artificial Intelligence (AI) companies seeking operational licenses in the city. The goal is to create the largest pro-tech hub in the Middle East and North African Region (MENA). The Dubai AI and Web3 Campus has been established to drive innovation and attract top industry talent.
Main Breakdowns:
- Dubai offers a 90% registration subsidy to web3 and AI companies.
- The Dubai AI and Web3 Campus aims to become the largest pro-tech hub in MENA.
- Licenses will be issued by the Dubai International Financial Center (DIFC).
- The campus provides training, hardware, equipment, and funding for young innovators.
- The hub is projected to create 200,000 jobs in the Middle East by 2025.
Dubai’s Ambitious Plans
The Dubai AI and Web3 Campus plans to create 3,000 jobs and attract over $300 million worth of investment in the city over the next five years. The campus has already granted licenses to digital asset exchanges like Binance and Nomura’s virtual asset arm, Laser Digital Middle East. Dubai also has a vision to attract 1,000 metaverse firms and become a global hub for the metaverse community.
Hot Take
Dubai’s initiatives to support web3 and AI companies through registration subsidies and the establishment of the AI and Web3 Campus demonstrate its commitment to becoming a leader in technology and innovation. By providing incentives, training, and resources, Dubai aims to attract global talent and position itself as a key player in the industry. The city’s ambitious plans for job creation and investment show its determination to thrive in the digital economy.
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