By Sarah Townsend
Group is founding entity in AED1bn Dubai Future Accelerators programme
Dubai Holding on Monday announced its role as a founding entity in Dubai Future Accelerators, a programme to test and develop next-generation technology and business models to support the city’s growth in the coming decades.
The role marks Dubai Holding’s “commitment to innovation”, the group said in a statement. Together with the Dubai Future Foundation, backed by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Dubai Holding will invest AED1 billion in projects and companies involved in the programme over the next five years.
It was announced last month that 31 firms from around the world had won places to take part in Dubai Future Accelerators, including rapid-transit technology company Hyperloop One, which is already undertaking a feasibility study at Jebel Ali Port, Construction Robotics and Blockchain tech outfit Concensys.
They will now work with public and private sector partners over a 12-week period to build and deploy prototypes and products that could be developed on a city-wide scale to address the emirate’s most pressing challenges.
Other government partners supporting the programme include Dubai’s Road & Transport Authority (RTA), Dubai Electricity and Water Authority (DEWA), Dubai Municipality, Dubai Police, Dubai Health Authority and Dubai Knowledge.
Of the 31 selected from almost 2,300 applications, four will work specifically with Dubai Holding, the group said.
Ahmad Bin Byat, vice-chairman and managing director at Dubai Holding, said: “This is a very exciting moment for Dubai Holding, where we are hosting and collaborating with some of the brightest entrepreneurs in the global tech industry to deliver enhanced experiences to our wide universe of customers and the wider community.”