District 2020, the legacy site of Expo 2020 Dubai, will welcome 85 start-ups and small businesses when it opens to its first business tenants in the fourth quarter of this year after the mega trade fair ends on March 31.
The start-ups are being onboarded as part of District 2020's global entrepreneurship programme called Scale2Dubai, a statement on Thursday said.
“District 2020 seeks to play a role in enabling regional and global start-ups to scale up within Dubai, providing an ideal launchpad and gateway to access the Middle East and North Africa region,” it said.
“By enabling start-ups and small businesses through its Scale2Dubai programme, District 2020 builds on Expo 2020's efforts to fund and empower innovating budding businesses with the potential to create long-term positive economic and social impacts.”
Up to 80 per cent of the structures on the 4.38-square-kilometre Expo 2020 Dubai site will be reworked to create a mixed-use development and a hub for global tech innovation when the event ends. It will be home to government institutions, Fortune 500 companies and venture capital firms, among others.
The UAE, the Arab world's second-largest economy, has taken various steps to encourage entrepreneurship and boost innovation under its economic diversification strategy.
About 95 per cent of the country’s firms are SMEs or start-ups, employing 42 per cent of UAE workers and accounting for more than 40 per cent of its gross domestic product.
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Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, visits the Philippines pavilion at Expo 2020 Dubai. All pictures by Wam -
Sheikh Mohammed is given a tour of the Philippines pavilion during his latest trip to world's fair. -
Sheikh Mohammed at the Philippines pavilion -
The exterior of the Philippines pavilion at Expo 2020 Dubai. -
Sheikh Mohammed visits the Venezuela pavilion. -
Sheikh Mohammed is given a tour of the Venezuela pavilion. -
The exterior of the Venezuela pavilion at the world's fair. -
Sheikh Mohammed visits the Portugal pavilion on busy Friday at Expo 2020 Dubai. -
Sheikh Mohamed is given a tour of the Portugal pavilion. -
The exterior of the Portugal pavilion at Expo 2020 Dubai. -
Sheikh Mohammed tours the Dubai Electricity and Water Authority pavilion. -
Sheikh Mohammed was told of Dewa's ambitious plans for the future. -
Sheikh Mohammed meets Mary Simon, governor general of Canada, at Expo 2020 Dubai. -
The meeting was attended by Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Sheikh Mansoor bin Mohammed. -
Sheikh Mohammed and Mary Simon tour the Canada pavilion. -
The exterior of the Canada pavilion. Expo 2020 Dubai ends its six-month run on March 31.
Last year, the country unveiled the Entrepreneurial Nation initiative, the goal of which is to make the Emirates home to 20 unicorns — a term referring to start-ups valued at more than $1bn — by 2031, as well as to attract and expand small and medium enterprises.
The first 85 businesses chosen to be part of the Scale2Dubai programme are from 27 countries and were selected from 628 shortlisted applications, according to the statement. Overall, the programme received 3,200 applications from 129 countries.
“Only 50 per cent of start-ups make it to their fifth year, so we are proud to have designed a programme that supports them on this journey and eagerly look forward to welcoming Cohort 1 to District 2020 during fourth-quarter of this year,” Tala Al Ansari, director of the innovation ecosystem and Scale2Dubai, said.
“We plan to host a new cohort every year at District 2020 and look forward to our second cohort moving in by April 2023.”
District 2020s anchor tenants DP World, China’s Terminus Technologies, Siemens and Siemens Energy will also collaborate with the enterprises that will come through Scale2Dubai, the statement said.
