His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice

President and Prime Minister of UAE and Ruler of Dubai has announced the launch

of a new district combining the key commercial and financial hubs in Dubai and

is dedicated to the development of the future economy under the name of 'Dubai

Future District'.

The Dubai Future District covers and connects Dubai World Trade

Centre, DWTC, Emirates Towers and Dubai International Financial Centre,

directly via a bridge inspired' by the Museum of the Future, making it the

Middle East's largest district dedicated to developing the new economy. It will

also house an economy research center, incubators &

accelerators and innovative space for future economy pioneers which will

boost the business sector of the country.

His Highness Sheikh Mohammed bin Rashid Al Maktoum also

announced the launch of an Dhs1bn fund to support new economy companies who

will operate out of Dubai Future District, and who have the "potential and

foresight" to support the emirate's position as a preferred destination for

global talents and entrepreneurs. The new district, along with the new fund,

will provide unprecedented financing and legislative facilities and options for

businesses.

In order to support the economy of the future, overall, 10

initiatives will be launched in the coming period which includes:

1. Launch of an AED1 billion

fund for future economy entrepreneurs in Dubai and the region which will

provide support and facilities needed by tech startups in their early stages.

2. Office of Future Economy

Companies is the second initiative, in which an office for the future economy

companies will be established which will issue special five-year residency

visas to future entrepreneurs, licenses for innovative projects, provide

banking facilities, offer legal services, and provide flexible workspaces,

training services and workshops.

3. Legislative licenses will be offered to future economic entrepreneurs to test their innovations in

designated areas.

4. Housing options at a

reduced price will be made available for future economy pioneers.

5. A unified platform for

financing and consulting future economy entrepreneurs so that future economy

companies can obtain the funding and consultations necessary to start and

expand their activities through this platform.

6. New stock exchange for

future economy companies is the sixth initiative. This will; allow the future

economy companies to obtain financing and raise capital in a more flexible

system.

7. The formation of the

largest incubators and accelerators to assist future economy companies in their

initial funding stages, by providing training in innovation and developing

prototypes, in addition to providing an opportunity to benefit from the network

of partners and available facilities.

8. Formation of Future

Economy Research Centre which will contribute to the design of applied research

through several specialised laboratories and will form a platform for

scientific research.

9. This programme is aimed at

cultivating the culture of entrepreneurship and encouraging students in the

country to set up future economy companies. It will also provide services such

as allocating workspaces, providing mentoring and guidance, educational

materials, as well as opportunities to obtain grants and funding from

government and private agencies.

10. International conferences and

various global events will be hosted for future economy leaders to communicate

through, explore growth prospects and present their projects to a larger

audience.