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Dubai Establishes $272 Million Future District Fund To Attract Tech Companies
Digital companies relocating to Dubai’s Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure.
To establish 1,000 digital companies in the Dubai Future District (DFD) over the next five years, Dubai has recently launched a AED 1 billion fund ($272.3 million), called the Dubai Future District Fund, encouraging companies to list in the Dubai Financial Markets and stock exchange.
The fund is an initiative of the Dubai Securities and Exchange Higher Committee, and it reflects the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai.
“The Dubai Future District Fund supports national efforts and strategies aimed at enabling entrepreneurs to reach new horizons, realize Dubai’s aspirations for the new economy, and contribute to enhancing the emirate’s status as a preferred destination for investment environment and exceptional facilities,” stated Sheikh Maktoum bin Mohammed Deputy Ruler, Dubai Deputy Prime Minister Minister of Finance.
One half of the fund is dedicated to investments into venture capital funds with a local focus, while the other half is supposed to support startups directly or through Future District affiliated programs.
Also Read: Oracle Opens A New Cloud Region In Abu Dhabi
Digital companies that decide to base their operations in the Dubai Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure. Dubai has also very recently demonstrated its ability to quickly react to rapidly changing conditions when it became one of the first cities in the world to recover from the pandemic and reopen its economy.
All this makes it a very attractive place for startups and venture capital, and the UAE Centennial 2071 plan, whose goal is nothing less than to make the UAE the best country in the world by 2071, only reaffirms Dubai’s ongoing commitment to serve as a global hub for business.
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New High-Tech Immersive Gaming Attraction Arrives In Dubai
The City Centre Mirdif facility comes courtesy of Canada’s Activate Games and blends fitness and gaming for thrilling, tech-savvy entertainment.
Majid Al Futtaim Entertainment has joined forces with Canada’s Activate Games to bring a thrilling, tech-driven gaming experience to City Centre Mirdif. The new facility is Activate’s debut project in the MENA region, and reimagines indoor entertainment by merging gaming with fitness to specifically appeal to Dubai’s tech-focused population.
Activate at City Centre Mirdif offers nine unique game rooms that incorporate advanced technology to create an environment where players must jump, dodge, climb, and solve puzzles in more than 50 interactive games. A highlight of the experience, the Mega Grid, has already gone viral on TikTok, attracting attention with its dazzling array of over 500 lights that respond to players’ movements.
Activate’s Dubai location includes 10 levels of game difficulty, spanning from beginner to advanced, making it accessible to all skill levels. Adam Schmidt, CEO and founder of Activate, emphasizes that this experience goes beyond typical fitness or gaming: “With our innovative games engineered for repeat play, we offer a dynamic space for friends, families, and teams to connect, have fun, and stay active. This is a fresh take on entertainment that has made Activate the fastest-growing entertainment concept in the world”.
A central feature of Activate’s success lies in its use of RFID technology, which enables seamless tracking of player progress and achievements. Players earn rewards and badges based on game performance, adding a layer of gamification that keeps them coming back. “Our use of RFID technology allows for seamless tracking and progress, and our reward and badge system adds extra motivation, with players earning badges and rewards based on their achievements,” Schmidt explains.
Also Read: Wa’ed Ventures Pledges $100M For Early-Stage AI Startup Funding
As interest in gaming continues to surge in the Middle East, Activate’s timing is ideal to meet the region’s increasing demand for tech-driven entertainment. Positioned as the first experience of its kind in the MENA region, Activate at City Centre Mirdif is set to attract a broad range of visitors, from families to gaming enthusiasts, all seeking a novel and active form of entertainment, he says.
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