Emirates and Microsoft for metaverse accelerator

One of the biggest financial institutions in the Middle East and North Africa region, Emirates NBD, revealed that an accelerator program had been launched for entrepreneurs looking to promote user experiences in the Metaverse. The ten-week program’s showcase at GITEX for shortlisted applicants will help firms generate revenue, gain experience, and develop the region’s metaverse tech stacks.

The program, in collaboration with the US tech behemoth Microsoft and the Dubai International Finance Centre (DIFC) Fintech Hive, aims to support Dubai’s Metaverse Strategy, which calls for supporting 40,000 virtual and technological jobs by 2030 and ranking among the top ten metaverse hubs globally.

With the use of Web3, the Strategy aims to boost Dubai’s economy by $4 billion over the course of five years while also improving the client experience

In a statement, DIFC FinTech Hive’s Raja Al Mazrouei stated that his organization was “pleased” to collaborate with Emirates NBD on the development of the accelerator, which was “expanding quickly and witnessing rising interest from across the world.”

“This action reinforces our commitment to help Dubai’s aspiration to be among the top ten metaverse economies in the world,” the speaker concluded. “We at DIFC FinTech Hive keep up with the most recent technological developments in order to stay up with the growing momentum in the global digital sphere.”

Mazrouei’s comments were echoed by Naim Yazbeck, General Manager at Microsoft UAE, who said that the Metaverse provided a “exciting chance to create revolutionary solutions” to improve consumer journeys and experiences.

“Innovative tech start-ups play a critical part in this reinvention, offering innovative, distinctive viewpoints to the construction of an altogether new world,” he concluded. “We are excited to engage with these innovators and support them as they fulfill their potential throughout the program because we appreciate the effect that entrepreneurs can have when given access to next-generation technology that make their ideas a reality.”


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