There has been a flood of tech & digital news stories from across the UAE over the past week, with numerous companies using GITEX as their platform.
It covered everything from Blockchain revolutionizing gaming (I can see this) and future food production & food security, through to big changes in how international business can expand into the region, to Dubai’s latest Space initiative.
As an extra treat I have shared a brilliant podcast – and I highly recommend it if you want to sound smart recycling big ideas on what distributed solar energy and crypto means for the world. Hold onto your hats, people!
The UAE plays big on data
Etisalat Group and artificial intelligence services provider G42 signed a binding agreement to merge their data centre services to create the UAE’s largest data centre provider.
Amazon Web Services, the world’s biggest cloud storage service provider, said it will open three data centres in the UAE in the first half of 2022.
The data centre market in Mena region is expected to grow at a compounded annual growth rate of around 8 per cent to hit $5 billion by the end of 2026.
The start-up agenda
There is a heightened interest in the AgTech and F&B startup and technology sectors, in line with the UAE’s agenda on food security and its goals to diversify the economy.
New Abu Dhabi government virtual license will let non-resident foreign investors to conduct business in the emirate before proceeding with their residence permits – presenting opportunities for startups or business expanding.
Will we see Tier increase its operations in regional hub, Dubai, after the e-Scooter company raises $200m in funding round and sets a valuation of $2 billion?
Dubai Internet City: a hot bed for start-ups
There is now a total of 500 start-ups within Dubai Internet City, with e-commerce, logistics, FinTech, AgTech and F&B gaining the most interest.
Start-ups at the in5 incubator secure investments worth AED 1.4 billion.
Notable start-ups that have successfully secured significant investments:
- Buy-now-pay-later platform Tabby
- Eyewear e-commerce company Eyewa
- AgTech firm Desert Control.
- AI powered traffic safety platform Derq.
Remote continues to drive digital transformation
More than 70% of companies brought their digital transformation plans forward by at least a year as Hybrid workplaces drive cloud adoption.
The Blockchain game
Ritam Gupta, founder and chief executive of Dubai-based blockchain gaming platform Defi11, says blockchain and NFTs can drive gaming developers to new levels.
More than just a passing fad? The non-fungible token market surged to a record high of $10.7bn in sales in the third quarter of this year.
Dubai’s MBRSC creates UAE space sector launchpad for start-ups in the space sector, attracting businesses from the region and around the world.
Who is the social pariah?
Trust in Facebook across the Middle East has fallen to all time low. The social giant faces intense scrutiny over its business practices, ethics and its role in spreading disinformation.
The answer to the Facebook’s woes put a disguise on and hope nobody notices it’s you… sorry, I mean rebrand. What do you think they’ll rebrand to? Comment here.
Podcast essential: Why Blockchain and Facebook’s Libra Cryptocurrency Threaten Governments and What a Decentralized Renewable Energy Future Looks Like.
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It’s official, Developing the MENA region’s tech-talent is is the ‘bread and butter’ of the future.