Dubai: The grand financial imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has led to the creation of thriving know-how hubs like Dubai Web Metropolis which have remodeled the trade within the area and made Dubai a significant international innovation and start-up hotspot, stated Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Govt Council of Dubai.
He stated the emirate’s vibrant entrepreneurial ecosystem has enabled a number of know-how start-ups to script international success tales. From world-leading infrastructure and regulatory frameworks to availability of incubators and good funding, Dubai supplies all the weather wanted for brand new ventures of all sizes to succeed.
Sheikh Hamdan’s remarks got here throughout a gathering with Pavel Durov, Founder and CEO of Telegram , one of many world’s main cloud-based instantaneous messaging and VoIP companies. Globally headquartered in Dubai, Telegram is valued at greater than $20 billion, and has greater than 570 million customers, out of which 100 million have been acquired in January alone.
“Dubai’s potential to supply a productive growth-oriented surroundings for know-how start-ups is validated by the truth that some the world’s most enjoyable and profitable digital corporations like Telegram have chosen to run their ventures out of the emirate. We proceed to welcome nice expertise and concepts to Dubai which affords a nurturing ecosystem for his or her growth,” Sheikh Hamdan stated.
Pavel Durov, Founder and CEO of Telegram, expressed his appreciation for Sheikh Mohammed bin Rashid Al Maktoum’s imaginative and prescient for a vibrant technological neighborhood, which has performed an necessary function in driving development, innovation and entrepreneurship within the know-how sector far past Dubai’s borders. The startup ecosystem, superior infrastructure and business-friendly laws provided by Dubai has made it a hub for expertise and entrepreneurs aspiring to go international from everywhere in the world.
In 2020, Telegram grew to become one of many 10 most downloaded and fashionable apps on this planet. By 2022, it’s anticipated to have one billion energetic customers monthly.
Telegram is one in all a sequence of world entrepreneurial successes which have emerged out of Dubai over the previous couple of years. Different notable ones embrace Careem, acquired by Uber; Souq.com, the primary unicorn firm within the Center East, acquired by Amazon; Media.Internet, one of many world’s largest advert tech corporations; Anghami, an Arabic music streaming platform; and Wrappup, the developer of an AI-based productiveness app, acquired by US tech agency Voicera.
Final 12 months, Dubai-based Rising Markets Property Group (EMPG) and OLX Group, house owners of homegrown know-how companies Bayut and dubizzle, introduced the merger of their MENA and South Asia operations to type a Dubai-based unicorn firm. These corporations have proven the world how Dubai permits startups to dream massive and obtain even greater.