Dubai FDI and MassChallenge to attract startups and investments

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Staff Report

Dubai: Dubai Investment Development Agency (Dubai FDI) and the MassChallenge, a non-profit start-up accelerator based in Boston, signed a partnership to support global initiatives and projects that attract start-ups as well as investments to Dubai and the UAE. As part of the partnership, a roadmap will be established to expand MassChallenge’s activity into Dubai and MassChallenge will utilise its global reach and cross-sector network to identify potential startups suited for Dubai.

The agreement was signed on the sidelines of the ‘Dubai Investment Week 2017’ by Fahad Al Gergawi, CEO of Dubai FDI, and Brittany McDonough, Director of Global Partnerships at MassChallenge.

Commenting on the partnership, Al Gergawi said: “The signing of the agreement is part of Dubai FDI’s commitment to achieving the goals of the UAE 2021 National Agenda and the Dubai Plan 2021 to further strengthen Dubai and the UAE as a world-leading business destination. MassChallenge is one of the world’s largest business accelerators, capable of bringing in entrepreneurial innovations and impact investments into Dubai and the UAE.”

McDonough added: “MassChallenge is proud to collaborate with Dubai FDI to explore programming opportunities in Dubai, reaching the broader region to support entrepreneurs and startup businesses contributing to the thriving innovation ecosystem. MassChallenge programming engages governments, corporates, local and global partners to create the greatest impact and transformation.”

The penultimate day of the ‘Dubai Investment Week 2017’ also witnessed a series of investment policy dialogues that will discuss key policies in the development and stimulation of investment in key economic sectors.

“Future policy dialogue sessions will be held as a round table with representatives from stakeholders, stakeholders and experts to assess the current status of Dubai Investment attractiveness and prioritize investment policies that support the development and success of future investor business. Stakeholders from the public and private sectors.”

The Dubai Investment Week is being attended by senior public and private sector leaders and experts from the region and beyond, representatives of banks and investment funds, as well as official delegations. The programme includes a number of panel discussions, direct dialogue sessions, specialised workshops, closed meetings and field visits.