AREA 2071, an innovation ecosystem that pulls the brightest minds to design the longer term; Business golden visa, enterprise license, and funding alternatives are a few of the perks provided by the platform
Since its inception in May 2017, Area 2071, the innovation ecosystem of Dubai Future Foundation (DFF), has hosted greater than 780 bodily and over 80 digital occasions, together with conferences, boards, workshops and interactive classes, which have attracted greater than 26,000 individuals from all over the world.
The ecosystem has additionally organised many innovation packages, together with ones from TechStars and Microsoft; and has run seven profitable accelerator packages, welcoming over 660 individuals, representing 227 startups, 45 of which have established workplaces within the UAE, ensuing within the creation of 600 jobs.
Area 2071 has issued its annual report that summarizes its achievements up to now and extends an invite for like-minded people to be a part of this vibrant ecosystem and to collectively create the longer term.
Area 2071 runs all kinds of innovation packages in addition to startup accelerators and incubators in partnership with authorities entities and worldwide corporations. Its packed agenda has featured 230+ startup enablement classes, 100+ entrepreneurship classes, 140+ classes geared toward exploring the way forward for very important sectors, 120+ youth and girls’s empowerment classes, and 250+ data and expertise sharing classes. Since the outbreak of the COVID-19 pandemic, the platform has stored the momentum going by switching from bodily occasions to the digital format and efficiently working 80+ digital occasions.
Global hub for exploring and designing the longer term
Abdulaziz Al Jaziri, deputy CEO and COO of DFF, stated Area 2071 is a world hub for exploring and designing the longer term that serves as a gathering level for the private and non-private sectors to assist nationwide efforts to attain the targets of the UAE Centennial 2071, together with positioning the UAE as one of the best nation on the planet.
“To improve the UAE’s future readiness, the interactive area brings collectively the brightest minds from throughout the globe to leverage know-how and innovation to plan pioneering options to international challenges.”
Wealth of alternatives for entrepreneurs
Area 2071 homes a number of labs devoted to key sectors of the longer term, along with initiatives geared toward designing, testing and implementing promising ideas and tasks, such because the Centre for the Fourth Industrial Revolution UAE (C4IR UAE), Dubai Future Labs (DFL), Youth Hub, Dubai Future Accelerators (DFA), the Ministry of Possibilities and the Regulations Lab.
The platform assists startups and entrepreneurs by providing aggressive firm licensing gives, enterprise golden visas, workplace areas in addition to organizing related occasions. It additionally facilitates entry to authorities companies and traders within the UAE and the broader area.
Its focus sectors embrace aviation, healthcare, public companies, meals safety, cybersecurity, social growth, training, area, transportation, logistics and provide chain, synthetic intelligence and 4IR applied sciences.
Dubai Future Accelerators
DFA is a cohort-based program geared toward fixing a broad spectrum of enterprise and innovation challenges sourced from authorities and company entities. To date, 288 startups from 34 international locations participated in additional than 80 challenges throughout eight cohorts. Of these, 45 corporations have established workplaces within the UAE, creating over 600 jobs.
The program has resulted in 89 pilot tasks and Dh75 million in fairness funds raised along with the signing of 153 memoranda of understanding (MoUs) with potential companions. Moreover, twenty-seven % of the taking part startups have signed contracts price Dh36 million with DFA’s accomplice entities, whereas 90 % have entered agreements with different entities within the UAE, valued at Dh125 million.
Area 2071 additionally hosts startup packages in partnership with main worldwide corporations, resembling Techstars Dubai Accelerator, the primary US accelerator and enterprise capital fund to arrange an workplace within the UAE, and Microsoft AI Venture Labs (AIVL), the one accelerator within the area with an unique give attention to AI.
Innovation packages at Area 2071 embrace Aviation X Lab, Smart Dubai Blockchain Challenge, VR and Beyond, Al-Futtaim Innovation Challenge and P&G i-Dubai Lab amongst others.
Area 2071 is constantly extending the attain of the ecosystem by establishing additional partnerships and attracting international expertise to be a part of its imaginative and prescient. With the ‘new norm’ post-pandemic, Area 2071 goals to double down on innovation alternatives to create international affect.