The Dubai Future District Fund (DFDF) today held its Annual General Meeting (AGM) on 2023 performance at the Museum of the Future in Dubai, uniting efforts between public and private sectors to amplify the UAE's innovation ecosystem through strategic venture investments.
Established by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), and co-anchored by the Dubai International Financial Centre and Dubai Future Foundation (DFF), the Dubai Future District Fund's (DFDF) Annual General Meeting (AGM) serves as a pivotal event for assessing the Fund's notable achievements in its second year. Distinguished attendees included government officials, investors, and top executives from leading national corporations. The AGM featured keynotes, panel discussions, and insights from entrepreneurs, investors, and thought leaders, exploring collaborative initiatives, technology adoption, and the Fund's forward-looking strategies.
Abdullah bin Touq Al Marri, the UAE Minister of Economy, emphasized the country's commitment to doubling the national economy's GDP in the next decade, aligning with the wise leadership's directives. The Ministry of Economy, in collaboration with partners, focuses on key sectors such as the circular economy, sustainability, and entrepreneurship. Al Marri outlined the UAE's sustainable economic strategy, emphasizing pillars like research and development, innovation, and technology. The UAE is dedicated to exploring opportunities in the circular economy, clean energy, smart transportation, sustainable aviation, and agricultural technology, aiming for a diversified, knowledge-based economy. Al Marri praised the Dubai Future District Fund (DFDF) for its vital role in unlocking economic opportunities, fostering a diverse and sustainable economy, enhancing competitiveness, and encouraging innovation and substantial investments across various sectors.
The 'We the UAE 2031' strategy, with the ambitious goal of doubling the UAE's GDP to AED 3 trillion by 2031, was discussed during a meeting, focusing on social, economic, investment, and development aspects. The strategy emphasizes government and private sector collaboration, supporting existing companies, encouraging new ventures, and integrating sustainability across economic activities.
The Dubai Future District Fund (DFDF) highlighted its significant contributions to enhancing Dubai's venture capital landscape, with an initial allocation of AED 1 billion. The Fund has strategically invested in 14 start-ups and funds, supporting over 25 projects and achieving an 84% increase in talent within these ventures. DFDF has also allocated 20% of its fund to accelerate sustainable technology and innovation start-ups, aligning with the UAE's sustainability objectives and the 'We the UAE 2031' strategy. The AGM reinforces DFDF's crucial role in solidifying the UAE's global economic leadership and fostering an environment for innovative tech start-ups, prioritizing advanced technologies like AI, robotics, and blockchain for a sustainable and diversified global economy.
Khalfan Belhoul, Chairman of the DFDF Board and CEO of DFF, highlighted Dubai's commitment as a global hub for future technologies and economic ventures. He praised DFDF for connecting innovative thinkers with financial backers, driving new economic opportunities by supporting entrepreneurs and their visionary projects.
Arif Amiri, CEO of DIFC and DFDF Board member, emphasized Dubai's appeal to companies globally, attributing it to the supportive business environment and futuristic infrastructure. Initiatives like DFDF play a crucial role in nurturing companies focused on future economies and technology, positioning Dubai as a hub for ambitious projects, attracting investments, and top talent.
Sharif El-Badawi, CEO of DFDF, emphasized the Fund's role in establishing the Middle East as a leading region for the new economy industry, supporting emerging companies towards listing on Dubai's financial markets. The AGM reflected DFDF's commitment to sustainable financial growth and impact on the environment and society. In panel sessions, experts explored fostering a supportive environment for tech startups and promoting sustainability, innovation, and legacy.
Mathieu Flamini, GF Biochemicals Co-founder and former Arsenal player, shared his transition to advocating for a green economy, emphasizing the role of wealthy investors in promoting sustainable development globally.
News Source: Emirates News Agency
