With the goal of becoming a global hub for Web3 and AI development, Dubai has launched an initiative called The Dubai AI and Web 3.0 Campus. The technology hub plans to subsidize up to 90% of the cost of a business license to operate in the country for those companies that decide to move their office to Dubai.
The Dubai AI and Web 3.0 Campus initiative has been announced on the official website of the Dubai International Financial Center (DIFC). The city plans to create a technology hub capable of attracting Web3 and AI companies from around the world. To do this, the campus plans to subsidize the acquisition of business licenses, paying up to 90% of their cost.
The Dubai AI and Web 3.0 Campus will also provide companies with the physical and digital infrastructure for technology development, including R&D facilities, accelerator programs and collaborative workspaces.
According to a statement on the project’s official website, the campus aims to become the largest group of Web3 and AI companies in the region, with plans to raise more than $300 million in capital and create 3,000 jobs by 2028.
Author:
Grigory Shcheglov
Source: RB
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