By Seed Group
Dubai’s tech industry is flourishing and is positioned as the prime sector for start-ups, particularly companies seeking expansion, according to a review by Seed Group, a company established by the royal family. In this article, we explore Dubai’s unwavering commitment to disruptive solutions and development across industries — encompassing health, trade, transportation, food service, finance, and technology.
Dubai is a global powerhouse that leverages cutting-edge solutions to propel its economic landscape into the future. It strategically weaves technology into its trade and industrial framework and, thus, has become synonymous with disruptive solutions and immersive inventions.
Harnessing its technological prowess, Dubai utilises automation across a plethora of sectors. The success and consistent development of this initiative indisputably arise from the collaborative endeavours of both public and private entities. In this context, the presence of organisations such as Seed Group, a company of The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, plays a significant role.
Seed Group facilitates mutually beneficial collaborations with international organisations seeking a foothold in the competitive business hub of Dubai and the broader Middle East and North Africa (MENA) region. With a profound understanding of Dubai’s competitive and burgeoning market, the company has extensively reviewed the leading industries shaping the city’s economic success. This analysis explores various fields attracting start-ups and established international businesses contemplating market ventures.
Dubai Economic Agenda D33
In its relentless effort to become a global economic powerhouse, the Dubai government has established the ‘Dubai Economic Agenda D33’. This agenda details a comprehensive blueprint for the emirate’s economic transformation and envisages doubling its resources by 2033. The ambitious initiative seeks to focus on key sectors like information and communication technology, real estate, and the burgeoning FinTech (financial technology) landscape.
The groundbreaking project arguably comes against the backdrop of Dubai’s economic growth of 3.3% during the first nine months of 2023. Its gross domestic product (GDP) has also expanded to Dh223.8 billion ($60.9 billion), reflecting a 3.2% surge in the first half of last year. Notably, the transportation and storage services industries contribute to this success by 10.9%.
Acknowledging this significant success, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of Dubai Executive Council, emphasised that this is “the result of the harmonious collaboration between all of Dubai’s economic stakeholders, including its public and private sectors.”
Additionally, as a company established by the royal family, Seed Group forges strategic alliances for global businesses entering the Dubai market — and in extension, the MENA region. This positions the conglomerate as a significant driving force in the emirate’s economy.
Technological advancement explored
In the face of the 4th industrial revolution, defined by technological advancements, Dubai is among the cities that prioritise digitalisation for all-encompassing economic benefits across diversified industries. The strategic infusion of automation will inevitably catalyse synergistic transformation. In turn, this fosters an ecosystem where innovation begets progress, and progress begets economic growth.
Fortunately for adept decision-makers, opting to venture into strategic partnerships in Dubai will be a prudent decision.
Exemplifying its successful technological industry, the city has been steadfast in launching programmes that accelerate the city-wide adoption of advanced technologies — AI, robotics, and autonomous vehicles. Initiatives like The Dubai Autonomous Transportation Strategy, Dubai Industrial Strategy 2030, Dubai Future Foundation’s Dubai Future Accelerators and Dubai Future District, and the third phase of Dubai’s 10X constitute significant opportunities for businesses worldwide.
Most recently, Dubai released the ‘Dubai Program for Gaming 2033’ agenda. It aims to supercharge the emirate’s standing among the top ten global gaming cities and boost its GDP by $1 billion in 2033.
Additionally, the endeavour will cultivate a global platform that brings together digital content creators, entrepreneurs, and technology engineers. It also promotes a training ground, in partnership with academic institutions, and is expected to generate 30,000 new jobs within the gaming sector.
The booming tech-driven sectors in Dubai and enhanced digital adoption
Beyond the conventional technology and gaming industries, Dubai has digitalised several other booming fields — food service, banking, and transportation — as part of its overarching efforts to supercharge its economic progress.
In the food service industry, for instance, digitalisation has optimised operations and expedited service deliveries. Similarly, the seamless transfer and interoperability of funds have revolutionised the city’s financial hubs. Furthermore, the Road and Transport Authority (RTA) launches a ten-year plan that promotes fintech-driven mobility and aims for the department’s 95% digitalisation.
These multifaceted approaches underscore Dubai’s ambition to lead a technology-focused environment. Undeniably, several private entities, like Seed Group, have played a significant role in driving success in technology in Dubai.
Seed Group has notably been instrumental in the market presence and diversification of Dubai’s gourmet scene via the entry of global food chains like Jollibee from the Philippines and Gourmet Restaurant from Zambia. It also worked with the UK-based fintech firm Sokin, which conducts global payments for consumers and businesses, as well as the US-based company Reviver, creator of the world’s first digital licence plate platform and recipient of the Best Smart Transportation Solution Award at the 2019 Smart City Expo in Dubai.
Besides the royal-owned company, Dubai has numerous public and private institutions that act as channels for international companies seeking to venture into the market. Armed with a detailed business model and the right connections, these firms convene with industry leaders, collect demographic data, and expand their brands locally.
Countless opportunities ahead
It becomes evident that Dubai will accelerate its economy’s trajectory through strategic partnerships and expansive technological adoption. This analysis, anchored by Seed Group’s unique perspective, establishes the valuable opportunities available for start-ups and established businesses in Dubai.
About the Author
For over 20 years, Seed Group has formed strategic alliances with leading global companies across diverse industries. These companies have propelled their business pursuits in the MENA region through the support and strong base of regional connections cultivated by Seed Group.