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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.

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dubai establishes $272 million future district fund to attract tech companies
Dubai Future District

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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Lebanese Newspaper Builds AI President To Beat Political Crisis

The move by media outlet AnNahar comes after 13 failed attempts by the Lebanese parliament to elect a new leader.

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lebanese newspaper builds ai president to beat political crisis
OurPresident.ai

In a world first, Lebanon’s AnNahar Newspaper has built an artificial intelligence model designed to carry out presidential duties for the politically troubled country. Lebanon has been without a sitting president for two years after thirteen failed attempts by the nation’s parliament to elect a suitable candidate.

The new AI President’s deep learning algorithm was fed over 90 years of impartial journalism from AnNahar’s archive stretching back to the 1930s. The AI leader analyzes not only historical data but also current events and is able to formulate solutions for all manner of political, legal, and governmental questions. By tapping into such a vast knowledge base, Lebanon’s AI President will have a deep understanding of the country’s past, as well as an unbiased take on the challenges the nation faces going forward.

lebanon our president ai platform annahar

The new AI President was unveiled in a recent live broadcast. Nayla Tueni, editor-in-chief of AnNahar Newspaper conducted an interview with the digital leader, asking relevant questions about the current state of Lebanon, and how to fix the country’s difficult political situation. AnNahar has also converted its print newspaper to focus entirely on the new president’s guidance on issues spanning everything from the economy to sustainability and the environment.

Also Read: Abu Dhabi To Develop $1 Billion eSports Island Facility

After the interview, Nayla Tueni commented: “As Lebanese people, and especially at AnNahar, we refuse to sit back and allow things to go on as they have. To not have a president for this long is unacceptable and has impacted the country negatively. If the parliament will not do its job to elect a president, then the people will bring to Lebanon a president”.

The AI President will soon be accessible to everyone at OurPresident.ai, Users will be able to ask questions in a similar manner to the likes of ChatGPT and Google Gemini. It is also understood that government officials will also use the tool to help devise new directives.

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