Dubai unveils Ignyte to empower 100,000 start-ups

Digital platform aims to attract 5,000 venture capitalists and 500 partners

Dubai has emerged as a prominent hub for start-ups, driven by strong government backing through various initiatives. Bloomberg

Dubai has launched a new digital platform to accelerate the growth of more than 100,000 start-ups and entrepreneurs, the Dubai Government Media Office announced on Tuesday.

Ignyte, launched by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, was developed by the Dubai International Financial Centre and is a key component of the Dubai Digital Economy strategy.

It will connect founders with a global network of investors, mentors, and corporate and government bodies, aiming to attract 5,000 venture capitalists, 5,000 vetted mentors and 500 corporate and government partners, with perks saving start-ups in excess of $100 million, a statement said.

The move aligns with a core pillar of DIFC’s Strategy 2030, which is centred around enabling companies to grow faster than the market by focusing on innovation, DIFC governor Essa Kazim said.

“By providing a global platform for start-ups to connect, innovate and grow, DIFC is reinforcing Dubai’s position as a leading hub for entrepreneurship and technological advancement,” he said.

Start-ups play a crucial role in economies, as they can provide smart services that are essential to daily business and personal activities, tapping into the latest technology to reach a wider set of users.

Dubai has emerged as a prominent hub for start-ups, driven by strong government backing through initiatives such as business accelerators, financing options and sponsorship programmes designed to attract global entrepreneurs.

The emirate was ranked second for ecosystem value within the Middle East and North Africa region and fifth among top-10 emerging ecosystems by early-stage funding amount in the global start-up ecosystem report 2024. Dubai also achieved a perfect score of 10 in terms of funding, emphasising its strong early-stage funding and investor activity.

“Ignyte is the latest initiative that reflects our commitment to Dubai’s Digital Economy strategy, which aims to double the digital economy’s contribution by 2032,” said Arif Amiri, chief executive of DIFC Authority and member of the Dubai Higher Committee for Future Technology and Digital Economy.

“Through Ignyte, we will empower start-ups to have a greater economic impact and equip them to take on a larger role in shaping a digitally driven future.”

Ignyte will support start-ups from development to global expansion stage by connecting founders with experienced mentors, investors and networking opportunities.

It also features an artificial intelligence-powered marketplace that offers exclusive perks and deals tailored for start-ups. With plans to expand this selection to 5,000, the marketplace provides personalised recommendations, helping start-ups to find offers not available elsewhere.

Ignyte introduces ‘Ignyte Challenges’, competitions for data scientists, AI enthusiasts and innovators to showcase their skills in sectors such as AI and machine learning. Participants can collaborate globally to win prizes.

Ignyte allows investors to receive direct pitches from start-ups, building connections with entrepreneurs, mentors and corporate leaders while streamlining networking and due diligence.