Thu 17-09-2020 14:15 PM
DUBAI, 17th September, 2020 (WAM) – DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise and Innoway, a Chinese platform established by the Beijing and Haidian Government that has successfully incubated over 3,841 start-ups and raised a total of AED 41.8 billion, today held their first virtual matchmaking event to highlight innovation and technology opportunities in Dubai for Chinese entrepreneurs.
The session was joined by the UAE’s companies and Chinese innovators, in the first collaboration between the DMCC and Innoway following the signing of a Memorandum of Understanding, MoU, in May. Innoway will establish offices in DMCC’s Jumeriah Lakes Towers soon.
The event highlighted the opportunities available in the DMCC to the many companies invited by Innoway, including five of their "unicorn" companies: Beijing NOBOOK Education Technology, MEGVII, Terminus Group, Guangzhou Hongyu Science & Technology Co. Ltd and Neolix Technologies Co. Ltd. The DMCC also provided details on how to set up a business within the leading tech hub that it has created in its Jumeirah Lakes Towers community.
Feryal Ahmadi, Chief Operating Officer, DMCC, said, "Innovation is in Dubai’s DNA; it is part of the culture and way of life here and this creates progressive, vibrant and enabling environments for those with potential. As one of the world’s most dynamic cities, Dubai is the perfect setting for Chinese companies looking to expand their operations in the Middle East and beyond. The DMCC-Innoway partnership serves as the launchpad for Chinese start-ups and entrepreneurs seeking to transform the future."
Nie Lixia, General Manager, Innoway, said, "Innoway will set up an office at the DMCC to strengthen the innovation and cooperation between both sides. Innoway has actively helped Chinese technology-based enterprises set up in the UAE and helped UAE technology enterprises to open in Zhongguancun. So far, we have connected more than 50 Chinese and Arab enterprises, and we look forward to working with the DMCC."
The DMCC has established a comprehensive strategy to attract innovative companies to Dubai, in turn, contributing to the nation’s wider economic diversification drive.
As with the UAE, China remains an important market for DMCC. In 2017, the Yingtian Chinese Business Centre DMCC was established to aid Chinese companies wanting to set up operations in the Free Zone. The DMCC website was also launched in Mandarin in the same year to further increase the ease of doing business in Dubai.