DIFC and Dubai Future Foundation partner to back AI and blockchain start-ups

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Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF) signed an agreement to support blockchain and Artificial Intelligence-driven start-ups as the emirate seeks to attract advanced technology companies.
The agreement will see the two entities partner on a combined technology acceleration programme that will place start-ups on an “aggressive growth trajectory”, the DIFC said in a statement on Saturday.
“By working closely with DIFC, we seek to accelerate business opportunities for the region, attract start-ups and talents, employ innovation and technology to further enhance and generate a robust financial sector and provide the right tools and skills sets to enable a future-ready generation,” Khalfan Belhoul, chief executive of Dubai Future Foundation, said.
Financial services is the third-biggest sector contributing to Dubai’s gross domestic product (GDP). The emirate, a financial hub in the Middle East, has particularly focused on attracting and developing financial technology (FinTech) businesses.

Overall, the number of firms operating in DIFC rose 25 per cent in the first half of 2020 as the financial free zone looks to triple its size by 2024.

DIFC attracted 310 new companies in the first half of 2020, bringing the total number of companies based in the free zone to 2,584. The DIFC is now home …

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