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Dubai Establishes $272 Million Future District Fund To Attract Tech Companies
Digital companies relocating to Dubai’s Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure.
To establish 1,000 digital companies in the Dubai Future District (DFD) over the next five years, Dubai has recently launched a AED 1 billion fund ($272.3 million), called the Dubai Future District Fund, encouraging companies to list in the Dubai Financial Markets and stock exchange.
The fund is an initiative of the Dubai Securities and Exchange Higher Committee, and it reflects the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai.
“The Dubai Future District Fund supports national efforts and strategies aimed at enabling entrepreneurs to reach new horizons, realize Dubai’s aspirations for the new economy, and contribute to enhancing the emirate’s status as a preferred destination for investment environment and exceptional facilities,” stated Sheikh Maktoum bin Mohammed Deputy Ruler, Dubai Deputy Prime Minister Minister of Finance.
One half of the fund is dedicated to investments into venture capital funds with a local focus, while the other half is supposed to support startups directly or through Future District affiliated programs.
Also Read: Oracle Opens A New Cloud Region In Abu Dhabi
Digital companies that decide to base their operations in the Dubai Future District get to enjoy a number of benefits, including access to a large pool of entrepreneurial talent and hyper-connected infrastructure. Dubai has also very recently demonstrated its ability to quickly react to rapidly changing conditions when it became one of the first cities in the world to recover from the pandemic and reopen its economy.
All this makes it a very attractive place for startups and venture capital, and the UAE Centennial 2071 plan, whose goal is nothing less than to make the UAE the best country in the world by 2071, only reaffirms Dubai’s ongoing commitment to serve as a global hub for business.
News
Samsung Smart Glasses Teased For January, Software Reveal Imminent
According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.
Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.
As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.
Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.
Additionally, prior to revealing the prototype, Samsung plans to introduce…
— Jukanlosreve (@Jukanlosreve) December 3, 2024
The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.
A Collaborative Software Effort
Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.
Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.
Feature Set And Compatibility
The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.
Samsung Smart Glasses Teased For January, Software Reveal Imminent
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