It has the second most five-star hotels in the world and the tallest building in the world, the Burj Khalifa. Dubai is one of the world's most popular tourist destinations. Established in the 18th century as a small fishing village, the city grew rapidly in the early 21st century into a cosmopolitan metropolis with a focus on tourism and hospitality. It also shows that Covid-induced collaboration has accelerated innovation by offering innovators better opportunities to share knowledge, market access and funding.Dubai ( / d uː ˈ b aɪ/ doo- BY Arabic: دبي, romanized: Dubayy, Gulf Arabic pronunciation: ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai. The index shows digitalisation underpins the transformation of the most innovative cities and governments in top innovative cities do more to promote innovation. “By embracing new ideas to raise excellence and rapidly implementing dynamic creative solutions, Dubai is raising the performance of sectors across its economy,” Mr Buamim said. Incentivisation approaches include tax incentives for venture capital funds, public-sector matching of investments and government support for early and mid-stage start-ups through additional services.

With regards to funding, Dubai performed well in the area of venture capital, due to government-led incentives and support of global VCs looking to enter the market and those already invested.

Under the infrastructure category, Dubai was recognised for its academic institutions, boosting innovation by sharing their resources with start-ups and entrepreneurs. “By providing a supportive environment, a robust regulatory and legislative framework and highly developed infrastructure and comprehensively addressing various vital enabling drivers, Dubai is on track to achieve its aspirations,” Mr Buamim said. The assessment categories include agile government, infrastructure, funding, business environment and society.ĭubai’s performance reflects its ability to deliver “innovation-driven development” to transform the emirate into a global innovation hub, said Hamad Buamim, president and chief executive of Dubai Chamber. Launched in 2014, Dubai Innovation Index has influenced a raft of new measures, including strategic policies and procedures introduced in areas such as public-private partnerships, robotics, blockchain, artificial intelligence, the Internet of Things and 3D printing.

The emirate ranked ahead of global cities that include Beijing, Shanghai and Sao Paulo, as it scored high in the categories of infrastructure, government and society. The index report, which was developed by the Dubai Chamber in collaboration with PwC, analysed 39 cities. Dubai led the Arab world and stood 20th globally last year in the Dubai Innovation Index that was released on Wednesday.

Dubai arabic newspaper