Ahmad Bin Byat
Dubai Holding to develop young innovative businesses
DUBAI, February 20, 2017
Dubai Holding, a global investment holding company, has announced the launch of Dubai Holding Future Investments LLC (DHx), a regionally-focused company, to support the growth and development of young innovative businesses in the region.
DHx will leverage Dubai Holding’s networks, assets and strategic regional position to enable new businesses to access capital, and specific industry expertise to grow their enterprises from smaller operations into larger, global entities.
Khalfan Belhoul has been appointed as the chief executive officer of the new company that will support the entrepreneurial ecosystem.
Ahmad Bin Byat, the vice chairman and managing director, Dubai Holding, said: "The growth of innovative businesses is the future lifeblood of economies and critical to job creation, talent development and the unlocking of creative ideas."
"The Mena region is still in early stages compared to more developed markets in terms of investment into new ventures, especially in the technology sector. This has to change if we are to help the next generation build the successful businesses that will support our future economies," noted Bin Byat.
"DHx seeks to identify promising companies and enable them to scale quickly and effectively, while delivering sustainable, long-term returns on investment," he added.
Commenting on the new initiative, Belhoul said: "The start-up and technological potential of the region is immense; where Dubai has firmly established itself as the epicentre for commercial activity in the region."
"As the world progresses towards the fourth industrial revolution, where technology and new business concepts will shape the way we live, there is a significant opportunity for Dubai to become a global hotbed for innovative start-ups, and venture capital investment," remarked the new company chief.
"DHx seeks to be the catalyst in rapidly accelerating the growth of the ecosystem, and work hand-in-hand with the stakeholders in our sector," he added.-TradeArabia News Service
Dubai Holding is an investment conglomerate with operations in 21 countries employing over 22,000 people.
It manages a Dh130 billion ($35 billion ) portfolio of assets, which supports the strong development of Dubai’s non-oil economy across sectors including tourism, hospitality, real estate, media, ICT, education, design and trade.-TradeArabia News Service