Expand North Star 2024 Attracts 65 Unicorns Valued at $400 Billion

The Expand North Star 2024, hosted by the Dubai Chamber of Digital Economy at Dubai Harbour from October 13-16, has drawn significant attention with the participation of 65 unicorns boasting a combined valuation of $400 billion.

Organized by the Dubai World Trade Centre, this event highlights Dubai’s role as a pivotal gateway for innovative digital projects and global business expansion.

CEOs of participating unicorns emphasized Dubai’s conducive environment for creativity and innovation. They praised the emirate's integrated business ecosystem that supports advanced technology companies in harnessing artificial intelligence (AI) to develop unique solutions across various sectors. The diverse global representation at the exhibition has established it as a hub for communication, collaboration, and inspiration, fostering the generation of ideas to launch new unicorns.

During the exhibition, executives highlighted Dubai’s success in cultivating a thriving digital economy that attracts startups across tech sectors. The event showcased cutting-edge developments, particularly in AI and blockchain, serving as a vital source of inspiration for attendees.

Notable companies such as Axelera AI, a Netherlands-based developer of high-performance AI chips, see Dubai as a strategic hub for Middle Eastern expansion. CEO Fabrizio Del Maffeo noted the city’s critical role in accessing rapidly growing markets like India and Africa. Similarly, Billon, a Polish firm specializing in secure data exchange via blockchain, praised Dubai for its collaborative spirit and global talent attraction.

Romanian company Lumen, which develops assistive technology for the visually impaired, also recognizes Dubai as a launchpad for its innovative products. CEO Cornel Amariei highlighted the city’s strategic importance and commitment to innovation.

The presence of these unicorns underscores Dubai’s growing influence as a global tech powerhouse and its commitment to fostering innovation, attracting investments, and enhancing the performance of key industries.

News Source: Emirates News Agency