Dubai To Train Digital Start-Ups for Metaverse

The Dubai Chamber of Digital Economy, in cooperation with SEE Institute, launched a first-of-its-type training academy for preparing digital start-ups for the metaverse, web3, and NFTs.

The academy, titled “Future of the Digital Economy: Business in the Metaverse” will offer training programs that aim to equip these start-ups with the tools and experience required to make them successful in the digital world.

According to state-run WAM News Agency, as many as 30 businesses from Dubai and other destinations will be selected to join the academy.

They will be trained to understand the dynamics of business in the metaverse using the technologies of Virtual Reality (VR), Augmented Reality (AR), and Extended reality (XR).

The academy’s training course will include four sessions that will cover several topics, including the core principles of Web3, its history and roots, and successful and unsuccessful case studies of Web3 business strategies.

After completing the training program, the participating businesses will have the opportunity for showcasing their success stories before the audience at the Dubai Chamber of Digital Economy’s largest events next year.

The deadline for eligible digital startups to apply for the training program is October 31. The program will be from December 5 to 14.

Regarding the academy, Executive Director of Dubai Chamber of Digital Economy Khaled Al Jarwan said the academy is being launched within a framework of the chamber’s strategy to promote the growth of the digital economy sector and attract more digital firms to Dubai to be a leading digital economy hub.

Jarwan called on the firms in Dubai to keep updated with recent developments of Web3 and the metaverse and learn how to use them to expand their businesses and attract more customers.

Meanwhile, SEE Institute CEO Jasmina Locke asserted that the metaverse pushed organizations in Dubai to use blockchains, cloud technologies, and NFTs.

According to a report issued by the International Data Corporation in February, blockchain spending in the Middle East and Africa to go up 400% by 2023 from $21 million in 2019 to reach $105 million, with an annual growth rate of nearly 50%.

In a recent global survey by Accenture, 71% of respondents said moving to the metaverse will have a positive business impact.

Over the past weeks, the Emirati government and private institutions announced their intention to join the metaverse soon in light of its strategy to offer about 40,000 in this virtual world.

The UAE Ministry of Economy plans to launch its new headquarters in the metaverse to offer its services in the virtual world like the real-world headquarters.

Also, the Emirates Airline announced that it would train 4,000 new cabin crew in the metaverse as part of its plan to cut the role of the middleman.