Dubai Launches 'Sandbox Dubai' to Attract Top Talent and Drive Innovation
Dubai, a global city known for its entrepreneurial spirit and innovative projects, has introduced the 'Sandbox Dubai' program to attract top talent from around the world. This comes as the UAE's real GDP surged by 3.2% in the first half of 2023, demonstrating the region's economic prowess.
The 'Sandbox Dubai' initiative, introduced by the Dubai Financial Services Authority (DFSA), allows testing and commercialization of new technologies. It has already attracted high-value firms like VARA, indicating its potential to draw more top talent and innovative companies. Dubai's success in creating ventures like Emirates airline and the Burj Khalifa is a testament to its supportive environment for entrepreneurship.
The Dubai Economic Agenda (D33), announced in January 2023, aims to foster the growth of 30 companies in new sectors to become global unicorns. This project, along with the 'Sandbox Dubai' program, reflects the city's commitment to driving economic growth and diversification. Dubai's diverse population, with over 90% expats from over 200 countries, is seen as a strength to be harnessed for its non-oil sectors and knowledge-based industries.
The recent Expand North Star (ENS) event, held in conjunction with GITEX Global 2023, attracted over 1,800 startups and 1,000 investors with AUM exceeding USD 1 trillion. This event, along with the support provided by Dubai Chambers, a non-profit public entity, underscores Dubai's commitment to empowering businesses and fostering innovation.
Dubai's 'Sandbox Dubai' program and D33 project demonstrate its commitment to attracting top talent and fostering innovation. With a business-friendly approach that includes free zones allowing 100% foreign ownership and tax-free policies, Dubai continues to position itself as a global player. The city's diverse population and supportive environment for entrepreneurship are key strengths in its pursuit of economic growth and diversification.
