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Dubai Digital Economy Startups in the Metaverse

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Dubai Digital Economy Startups in the Metaverse
Dubai Digital Economy Startups in the Metaverse

Dubai Chamber of Digital Economy, one of three chambers operating under Dubai Chambers, in collaboration with the SEE Institute, has launched the “Future of the Digital Economy: Business in the Metaverse” Academy, the first-of-its-kind specialised training programme designed to equip digital startups with practical knowledge and tools they need to build in the metaverse and leverage Web3 to their benefit.

A total of 30 businesses from Dubai and other markets will be selected to join the training academy, which utilises Virtual Reality (VR), Augmented Reality (AR), and Extended reality (XR) technologies to help participants experience and understand the dynamics of business in the metaverse.

During the training, participants will go through four sessions covering the core principles of Web3, its history and roots and case studies of Web3 business strategies that have succeeded and failed. In addition, sessions will look at the value of non-fungible tokens (NFTs) as a new way of communication between brands and customers and how to manage expectations of different blockchains.

Upon completion of the programme, participants will benefit from mentorship support in Dubai, and gain access to a free sustainable co-working space, while they will also have the opportunity to share their success stories with an audience at Dubai Chamber of Digital Economy’s biggest events in 2023.

Khalid Al Jarwan, Executive Director of Dubai Chamber of Digital Economy, said that the training academy aligns with the Chamber’s strategy to support the growth of the digital economy sector, attract high-potential digital companies to Dubai and cement the emirate’s position as a preferred digital economy hub.
Al Jarwan highlighted the importance of meeting the changing needs of the business community in Dubai, especially given the rapid pace at which advanced technologies are reshaping the world of business.

He urged companies in Dubai to stay informed of new developments related to Web3 and the metaverse and learn how to use these channels to expand their businesses and connect with potential customers.

Dr. Jasmina Locke, CEO of the SEE Institute, said, “The creation of the metaverse has caused a major disruption to business models both within the UAE and internationally, as organisations are increasingly becoming part of the metaverse by using blockchain, NFTs, cloud technologies and more. The notion of a hybrid world is a reality, and it has triggered the transformation of our digital economy.”
Eligible digital startups will have until 31st October to apply for the training programme, which will run on December 5th-14th, 2022.

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.