November 15, 2022

More Than 150 Digital Start-ups Applied for Dubai Chamber for Digital Economy’s Metaverse Academy

Dubai's Burj Khalifa

Dubai’s Burj Khalifa

The Dubai Chamber for Digital Economy announced that 153 digital start-ups from 27 countries around the globe applied for its Future of the Digital Economy: Business in the Metaverse training academy.

Launched in October, Future of the Digital Economy: Business in the Metaverse is a first-of-its-type training academy for preparing digital start-ups for the metaverse, web3, and NFTs.

According to The National Newspaper, about 67 percent of the applications were submitted by digital firms from the UAE, Egypt, India, Jordan, the United Kingdom, Turkey, and the United States.

Only 30 start-ups will be chosen to join the training academy to be equipped with the tools and experience required to make them successful in the digital world.

The academy will start its training program from December 5 to December 14. The program will include four interactive sessions covering topics related to NFTs, blockchain, cryptocurrencies Web 3.0 technology, in addition to training the participants in the metaverse.

In this regard, Executive Director of the Dubai Chamber of Digital Economy Khalid Al Jarwan said these applications reflect the big interest in the metaverse and confidence in Dubai as a major digital hub.

According to Jarwan, the academy supports the chamber’s goals to make use of the opportunities emerging from the increasing digitalization and expansion in the Fourth Industrial Revolution in all business sectors.

Over the past few years, the UAE has positioned itself as one of the world’s prominent hubs for metaverse and blockchain technologies. It works on enabling digital assets companies to launch their operations in the country.

The Emirati government, in July, launched the Dubai Metaverse Strategy which aims to contribute $4 billion to the emirate’s economy. The strategy targets increasing the number of blockchain and metaverse companies fivefold within five years as well as offering 40,000 virtual jobs to be one of the top 10 global metaverse economies.

In an April global survey by Accenture, 71% of respondents said moving to the metaverse will have a positive business impact.

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