District 2020 will host 85 start-ups as part of its Scale2Dubai initiative – News

The startups are being brought on board as part of District 2020’s global entrepreneurship program called Scale2Dubai.



District 2020's main tenants, DP World, China's Terminus Technologies, Siemens and Siemens Energy, will also collaborate with the companies that will come through Scale2Dubai.  — Photo supplied

District 2020’s main tenants, DP World, China’s Terminus Technologies, Siemens and Siemens Energy, will also collaborate with the companies that will come through Scale2Dubai. — photo provided

Per staff report

Published: Wed 13 Apr 2022, 17:02

District 2020, the legacy site of Expo 2020 Dubai, will welcome 85 startups and small businesses when it opens to its first commercial tenants in the fourth quarter of this year after the mega trade show concluded on March 31, 2022. .

The startups are being brought on board as part of District 2020’s global entrepreneurship program called Scale2Dubai.

District 2020 seeks to enable regional and global start-ups to grow within Dubai. It will provide an ideal platform and gateway to access the MENA region. In doing so, District 2020 will build on the efforts of Expo 2020 to fund and empower innovative businesses to create long-term economic and social impacts.

Up to 80 per cent of the structures at the 4.38 square kilometer Expo 2020 Dubai site will be redeveloped to create a mixed-use development and a hub for global technological innovation. It will host government institutions, Fortune 500 companies and venture capital firms, among others.

Economic diversification strategy

The United Arab Emirates, the second largest economy in the Arab world, has taken several steps to encourage entrepreneurship and drive innovation as part of its economic diversification strategy.

About 95 percent of the country’s businesses are SMEs or start-ups, employing 42 percent of UAE workers and accounting for more than 40 percent of its gross domestic product.

Last year, the country unveiled the Entrepreneurial Nation initiative, which aims to make the Emirates home to 20 unicorns — a term that refers to start-ups valued at more than $1 billion — by 2031, as well as attract and expand small and medium-sized businesses.

Scale2Dubai initiative

The first 85 companies chosen to be part of the Scale2Dubai program are from 27 countries and were selected from 628 shortlisted applications, according to the statement. In total, the program received 3,200 applications from 129 countries.

“Only 50 percent of startups make it to their fifth year, so we are proud to have designed a program that supports them on this journey and look forward to welcoming Cohort 1 to District 2020 during the fourth quarter of this year. Tala Al Ansari, director of the Innovation Ecosystem and Scale2Dubai, said.

“We plan to host a new cohort each year in District 2020 and expect our second cohort to move in in April 2023,” he said.

anchor tenants

District 2020’s main tenants, DP World, China’s Terminus Technologies, Siemens and Siemens Energy, will also collaborate with the companies that will come through Scale2Dubai, according to the statement.

Pratik Rawal, Managing Partner of Ascent Partners, said the government will offer free space for startups and small businesses in District 2020 to broaden their search and attract top global talent to Dubai.

“Two-year rent-free office space will be offered only to those companies that will be chosen at Scale2Dubai; otherwise the rest of the startups and businesses will be treated as regular tenants,” Rawal said.

“Potential startups should be in green energy, smart city innovations, smart mobility, or technologies that support these concepts. And they have to be pretty well established in their own countries,” he added.

Scale your business in Dubai

With the huge success of Expo 2020 Dubai, the Emirate has once again proven its place in the business world. Dubai has also introduced multiple benefits to help businesses prosper and grow. This and many more factors make Dubai a great place to establish your next business. This is where Ascent Partners steps in.

Ascent Partners is a business creation consultant providing customized solutions to help you strategize, launch and scale your business in Dubai.

With a collective experience of over 70 years, the consultancy provides services ranging from choosing the right type of company for your business and selecting the right license for your chosen business to helping you devise a strategy to build your next company in one of the the largest shopping malls in the world. .

key takeaways

• The site inherited from Expo 2020 Dubai will open to its first commercial tenants in the fourth quarter of this year

• Start-ups are will be incorporated as part of the District 2020 global entrepreneurship program called Scale2Dubai

district 2020 looks to enable regional and global start-ups to grow within Dubai

• The new district will build on Expo 2020 efforts to fund and empower innovative companies to create long-term economic and social impacts

• The main district it will be home to government institutions, Fortune 500 companies and venture capital firms, among others

— business@khaleejtimes.com

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