DIFC's AI and Web3.0 hub aims to attract 500 startups, create more than 3,000 jobs 

The ambitious project aims to attract more than 500 startups by 2028 and is expected to infuse $300 million in collective funds into the sector.

Essa Kazim, the Governor of DIFC, revealed that the initiative seeks to foster the growth of the AI and Web 3.0 sectors in Dubai. With the goal of creating over 3,000 jobs by 2028, the project envisions a dedicated campus spanning a massive 100,000 square feet within the premises of DIFC. This facility will act as a vibrant hub for entrepreneurs, disruptors, and engineers who possess a profound passion for emerging technologies.

The economic impact of AI is projected to be significant, with forecasts indicating that it will inject AED103 billion into the UAE economy by 2035. Moreover, AI's contribution to the country's GDP is expected to reach 14% by the end of the decade, highlighting the immense potential of this sector.

Arif Amiri, the CEO of DIFC Authority, emphasized the transformative role of the 'Dubai AI & Web 3.0 Campus' in catalyzing growth. The project aims to attract global innovators, startups, venture capitalists, and industry leaders, thus establishing the MENA region's most extensive ecosystem for AI and Web 3.0. By nurturing a collaborative environment, the campus intends to expedite the development of cutting-edge technologies and empower organizations to fully harness the transformative power of AI and Web 3.0.

In 2022, DIFC experienced unprecedented growth, with the FinTech and Innovation sector leading the charge. With 686 associated firms, the sector managed to raise over $615 million in funds within the Centre throughout the year. Furthermore, the total number of active registered companies in DIFC grew by an impressive 20%, reaching 4,377 in 2022 compared to 3,644 in 2021. The year also witnessed a historic milestone as more than 1,000 new companies registered in DIFC for the first time, with a total of 1,084 new registrations.

The introduction of the 'Dubai AI & Web 3.0 Campus' represents a significant leap forward in Dubai's drive to become a global hub for technology and innovation. The project's ambitious goals, substantial investments, and collaborative environment are expected to propel the AI and Web 3.0 sectors to new heights, positioning Dubai as a pioneering force in the field.