The Dubai AI and Web 3.0 Campus

2023: Dubai begins offsetting entrepreneurs with 90% of Web3 and AI start-up costs

On August 14, 2023, the Dubai International Financial Center (DIFC) announced a new initiative aimed at attracting companies developing projects in the field of Web3 and artificial intelligence. Such enterprises will be provided with commercial licenses with a subsidy of 90%.

The project was named The Dubai AI and Web 3.0 Campus. We are talking about the formation of a specialized technological hub to attract companies from all over the world that are developing promising IT technologies. The site is said to have deployed the most modern physical and digital infrastructure. It includes research areas, collaboration spaces, accelerator programs, etc.

The Dubai AI and Web 3.0 Campus

In the future, The Dubai AI and Web 3.0 Campus could become the largest cluster of Web3- and AI companies in the region, DIFC said in a statement. By 2028, it is planned to form 3,000 jobs on this site and raise capital in the amount of approximately $300 million. License subsidies should encourage IT companies and start-ups to move to Dubai.

We are confident that by issuing these licenses, we will bring more talent and investment from around the world to the region and create a culture of collaboration and innovation. The campus will create a favorable world-class environment that promotes business growth and development, "said Mohammad Alblooshi, Chief Executive Officer of the DIFC Innovation Center.

In addition to attracting Web 3.0 and AI development companies, Dubai also issued operating licenses to crypto exchanges. In particular, in August 2023, the Nomura Laser Digital Middle East crypto division received an operating license from the Dubai Virtual Asset Regulatory Authority.^[1]

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