UAE based Klumi Ventures for Web3 partners with DWF Labs

UAE based Klumi Ventures for Web3 partners with DWF Labs

Klumi Ventures and DWF Labs, an investor and market maker have partnered to offer comprehensive strategic advisory, investments, and market-making expertise for companies entering the UAE market.

As per the press release, the collaboration provides essential support in go-to-market strategies, regulatory compliance, fundraising, and business development. Additionally, DWF Labs will facilitate OTC deals and launch a new options platform, offering Klumi Ventures’ clients access to crucial liquidity, tailored trading solutions, and varied yield opportunities.

Kristiina Lumeste, SEO and Founder of Klumi Ventures, commented, “DWF Labs is one of the leaders in the Web3 space and has seen notable success in Asia. The team is now expanding its footprint to the UAE and we are excited to support DWF’s top portfolio companies and contribute to the growth of their Web3 ecosystem in the UAE.”

Klumi Ventures and DWF Labs will collaborate to offer comprehensive strategic advisory services to companies looking to expand into the UAE market. This includes guidance on go-to-market strategies, regulatory compliance, fundraising, and business development to ensure successful expansion.
Leveraging DWF Labs’ expertise in investments and market making, the partnership aims to provide Klumi Ventures’ portfolio companies with access to crucial liquidity and capital resources, enabling them to scale effectively in the UAE’s growing digital asset market.
OTC Deals and Options:

DWF Labs will facilitate OTC deals, providing tailored solutions for clients seeking to trade large volumes of digital assets securely and efficiently. In addition, DWF Labs is soon launching its own full scale options platform where Klumi Ventures clients can access various levels of yields.
The partnership will launch a series of educational initiatives in the UAE, including workshops, aimed at sharing critical knowledge and tools needed to thrive in the UAE Web3 ecosystem. These initiatives will focus on strategies, networking, regulatory and legal requirements, and the complexities of operating within the UAE market.

“This partnership with Klumi Ventures represents a significant step forward in our shared vision to build a robust Web3 ecosystem that supports innovation and sustainable growth across the UAE region. Together, we are strategically positioned to drive the digital transformation in the UAE, empowering both new entrants and established institutions to thrive in this dynamic landscape,” said Andrei Grachev, Managing Partner at DWF Labs.

The collaboration between Klumi Ventures and DWF Labs stands as a testament to the UAE’s ambition to become a leading global blockchain hub. By combining their expertise and resources, Klumi Ventures and DWF Labs are set to foster innovation and accelerate Web3 adoption across the MENA region, delivering significant benefits to startups and established institutions alike.

Last month Klumi Ventures partnered with Fuze, the Middle East’s regulated digital assets and blockchain infrastructure provider to harness Klumi Ventures’ investment acumen and Web3 expertise alongside Fuze’s digital assets infrastructure to accelerate the adoption of Web3 technologies throughout the region.

Web3 Holon green data storage provider sets up in UAE

Web3 Holon green data storage provider sets up in UAE

Australian Web3 Holon, a pioneer in Web 3.0 and AI-driven data storage and compute, has set up a base in the UAE.

Based in Australia, Holon has been building their innovative technology since 2018, with the aim of becoming the world’s greenest Web 3.0 infrastructure company. Holon is working to establish a 100% verifiably green global data network and empower data ownership.

“Holon recognized early that Web 2.0’s legacy infrastructure would struggle with cybersecurity, data privacy, and resource consumption. Web 3.0, with its decentralized, open-source framework, offers solutions for creating secure, transparent, and efficient digital ecosystems,” said Heath Behncke, Managing Director. “The UAE, particularly Dubai, have emerged as global leaders in fostering technological innovation. The country’s comprehensive approach to regulation, policy, and infrastructure development makes it an ideal hub for Web 3.0 and AI advancements. Holon’s commitment to Web 3.0 aligns with its vision to drive innovation for a sustainable and equitable digital future.”

Holon’s approach to sustainable data innovation involves modular micro-data centers equipped with immersion cooling technology. These small, efficient units can be integrated into existing properties, reducing the need for large, energy-intensive data centers. By leveraging Web 3.0’s distributed and decentralized technologies, Holon can bring data storage and computing closer to the user, improving latency, security, and energy efficiency. Additionally, Holon’s solutions can be powered by green energy, with the added benefit of repurposing waste heat to offset property energy costs, making it a win-win for businesses and the environment.

The company noted that the growth of data is staggering, from 1 Zetabyte (ZiB) in 2010 to over 100 ZiB in 2020. With AI driving significant data consumption, it is forecasted that 75,000 ZiB of machine-generated data will be generated annually by 2040. This surge will require around 1,000 ZiB of enterprise storage, a 250-fold increase. However, this expansion comes with a rising carbon footprint, with data centers projected to consume 8% of global electricity by 2030.

Heath said, “The blend of AI and Web 3.0 is transforming data management, offering secure, verifiable, and efficient handling of large data sets. Web 3.0’s decentralized infrastructure meets AI’s demands for accuracy and security, fostering a global ecosystem essential for AI deployment. Holon is committed to leading the way in sustainable data innovation, ensuring a secure and prosperous digital future.”

The company is exploring new opportunities to support commercial real estate firms in repurposing their infrastructure to tap into the booming data market. By merging property and data infrastructure, Holon is set to create a new future for both industries, ensuring they are well-positioned to thrive in economic challenges.

Adaverse invests half a million dollars in Saudi Web3 loyalty platform

Adaverse invests half a million dollars in Saudi Web3 loyalty platform

Adaverse, a Web3 venture builder, has invested half a million dollars ($500,000) as a pre-seed investment in Saudi loyalty platform, Mithu, a platform aggregator for restaurants and cafes in Saudi Arabia. 

Mithu aims to solve a critical problem in the loyalty program market, where customers struggle to manage multiple loyalty programs and billions of dollars worth of points expire annually. 

In Saudi Arabia, only 2.5% of restaurants currently offer loyalty programs, leaving a vast untapped market, while globally, about $100 billion worth of loyalty points expire annually. Customers hold an average of 17 loyalty programs, with 68% churning within the first year.

By aggregating loyalty programs into a single, gamified app, Mithu seeks to increase customer engagement and help businesses, particularly SMEs in the food and beverage industry, retain customers more effectively. Founded earlier this year, Mithu has already signed agreements with approximately 200 restaurants in Riyadh. 

“We’re thrilled to have Adaverse on board,” said Mohsin Qureshi, Founder of Mithu. “Their expertise in Web3 and gamification is invaluable as we develop a tokenised version of our app. This investment accelerates our time to market, allowing us to better serve our clients and users.” 

Vincent Li, Founding Partner of Adaverse, said, “We are thrilled to invest in Mithu, whose founding team brings decades of deep experience in the restaurant and retail sectors. The opportunity to disrupt this vertical in Saudi Arabia is enormous, and we’re excited to be part of it. As Adaverse, we bring global expertise in technology, coupled with Web3 knowledge, to support Mithu in developing their cutting-edge solutions. This unique combination of industry insight, technological prowess, and market opportunity positions Mithu for significant success and growth. We look forward to witnessing their impact on the Saudi Arabian market and beyond.” 

Mithu’s founding team offers a depth of expertise that positions the company at the forefront of Web3, AI, and customer loyalty innovation. CEO Mohsin Qureshi boasts over 15 years in foodtech, q-commerce, and technology startups, having held key leadership positions at Foodics, Cheetay, and Delivery Hero. CTO Asif Ali brings experience from leadership roles at Careem, Swvl, and foodpanda, and is currently pursuing a Ph.D. in AI. 

UAE based Web3 entity Verofax for customer relations raises $3 million

UAE based Web3 entity Verofax for customer relations raises $3 million

The Abu Dhabi-based Web3 services provider Verofax has raised $3 million in bridge capital. Leads in the round were King Abdullah University for Science and Technology, Plug & Play Tech Center, Navig8 Group, and Trove Capital UK. Other participants included Jawa Brothers Advisory, Alzamil Pedco CVC, and Tracecore CVC.

As per the announcement, the money will be used by the company to carry out its planned projects in the Middle East and the EU, including AI-powered guides in the GCC and sports fan guides in the EU and North America.

Verofax uses patented Web3 technologies like augmented reality, blockchain, and artificial intelligence to create elevated tourist, shopper, and brand marketing experiences. These technologies allow retailers, sports stadiums, and destinations to make their experiences more interactive, increase conversion, and promote social virality. Through direct involvement and the use of gamification, brands can establish a closer relationship with their customers and achieve better outcomes from AI and AR experiences.

Leading companies such as Anheuser Busch Inc. and Emirates Airlines currently use Verofax products, which are applicable to a variety of industries, including retail, tourism, and sports.

Wassim Merheby, CEO of Verofax, said, “Our solution helps tourists elevate their experiences, unlock personalized discounts and offer gamified ‘Explore to Win’ sponsored games in augmented reality. This allows enterprises and brands to sponsor and elevate their marketing efficiency, power direct-to-consumer communication and deliver amazing experiences to drive growth and boost loyalty. We are thrilled to be joined by strategic investors that will help us accelerate our AI guide solution and AR gamified experiences and grow through their collective network and with their advice.”

This allows travel destinations, retailers, and sports stadiums to make their experiences interactive in order to increase conversion and social virality. Through direct involvement and gamification, brands can increase consumer intimacy and get unparalleled outcomes from AI and AR experiences.

Verofax has received numerous accolades for using artificial intelligence in the retail and tourism industries, and it has made over $3 million in sales for Fortune 100 firms in 50 different countries so far.

The Blockchain Center in Abu Dhabi to launch $100 million Web3 fund with Gate.io ventures

The Blockchain Center in Abu Dhabi to launch $100 million Web3 fund with Gate.io ventures

The Blockchain center in Abu Dhabi, a hub for Web3 and Gate Ventures, the venture capital arm of Gate.io, have launched the Falcon Gate Ventures, a $100 million Web3 fund. This joint venture initiative takes a global stance to support Web3 builders that are committed to reshaping the world in the digital age.

As per the announcement, Gate Ventures and the Blockchain Center synergize their expertise and resources to help young talents from key regions including the USA, Asia, Europe, and the MENA region. Falcon Gate Ventures is designed to advance decentralized infrastructure and applications and accelerate the adoption of pioneering technologies.

The fund will support high-potential projects across the world, with a targeted focus on technical breakthroughs in the Middle East, Asia, the US and other key regions

Falcon Gate Ventures will work closely with international regulatory authorities to develop frameworks that both foster innovation and ensure global user protection.

“Choosing Gate Ventures as our partner for this joint fund was a natural decision for us. Gate Ventures brings a wealth of experience and a proven track record in the blockchain and digital assets space. Their deep industry expertise, combined with their innovative approach to investing, aligns perfectly with our vision at the Blockchain Center in Abu Dhabi,” said Abdulla, CEO of the Blockchain Center in Abu Dhabi. “We believe that together, we can create a powerful synergy that will drive forward our mission to support and scale high-potential blockchain projects. Gate Ventures shares our commitment to fostering cutting-edge technologies, and with their global network and insights, we are confident that this partnership will accelerate the adoption and impact of blockchain innovations, both in the UAE and internationally.”

Leveraging the extensive network and expertise of both Gate Ventures and the Blockchain Center, Falcon Gate Ventures seeks to discover and support projects poised to shape the future of blockchain technology and digital assets.

“Falcon Gate Ventures marks a significant step in our mission to advance global blockchain innovation,” said Kevin Yang, Managing Partner at Gate Ventures. “In partnership with the Blockchain Center in Abu Dhabi, we are investing in the digital future, supporting transformative ideas across continents.”

Falcon Gate Ventures is poised to drive blockchain innovation on a global scale. The venture aims to foster Innovation, accelerate the deployment of blockchain solutions by funding innovative projects and startups worldwide and support Education and Research.

Abu Dhabi aims to become blockchain and Web3 center

Abu Dhabi aims to become blockchain and Web3 center

As Abu Dhabi works to become the center not only for AI development, digital assets but also Blockchain. This week the city inaugurated its first Blockchain center to foster innovation and growth in digital transformation, and establish Abu Dhabi as a leader in blockchain technology.

As per the website, the Abu Dhabi Blockchain Center, located in Abu Dhabi, is a global hub for education, events, venture creation and consultancy services in blockchain and Web3 technologies.

The center encompasses five vital areas of technology focus: Incubation and Acceleration Hub, Venture Capital, and Education and Research and Development (R&D), Consultancy, and Events.

The Incubation and Acceleration Hub will play the role of empowering startups with comprehensive resources, expert mentorship, and strategic funding. Meanwhile, the Venture Capital arm will focus on supporting and investing in Web3 startups and businesses to speed the development and deployment of new blockchain solutions and applications.

The Education and R&D will focus on offering cutting-edge educational programs, certifications, and pioneering research initiatives to advance blockchain knowledge, skills, and technological innovation. The hands-on human resources training center will provide education and R&D to ensure a continuous pipeline of talent and groundbreaking solutions.

The center’s other services include providing expert advisory and consulting services for projects. It focuses on helping both local and international businesses integrate, optimize, and leverage blockchain technology. Additionally, this includes assisting companies in navigating the regulatory landscape for a smooth transition into Abu Dhabi’s dynamic market.

Abdulla Al Dhaheri, CEO of the Blockchain Center, noted, “We are thrilled to launch the Blockchain Center in Abu Dhabi. Our vision is to create a global hub for blockchain innovation, education, and collaboration right here in Abu Dhabi.”

Abu Dhabi ADGM was the first to launch a DLT Foundation regulations, and registered two entities so far. In March ADGM registered its second DLT Foundation,The Finschia DLT Foundation, chaired by Youngsu Ko, as a Distributed Ledger Technology (DLT) Foundation. IOTA was the first to get registered in 2023.

Digital Bank Ibanera joins UAE’s RAK digital assets oasis

Digital Bank Ibanera joins UAE’s RAK digital assets oasis

Ibanera, digital banking entity, has joined RAK Digital Assets Oasis (RAK DAO), a UAE Free Zone dedicated to digital assets. Ibanera wants to tap into the Web3 and fintech landscape in the Middle East.

According to the press release, by aligning with RAK DAO, Ibanera gains access to an array of resources designed to propel growth and innovation. This includes a robust ecosystem of Web3 companies, funding avenues, and cutting-edge blockchain technology.

Dr. Sameer Al Ansari, CEO of RAK DAO, expressed enthusiasm about the partnership, “Our mission is to be the future-centric free zone for tomorrow’s leading companies. Ibanera’s presence aligns seamlessly with our vision of fostering groundbreaking innovation and next-gen banking solutions. This partnership not only elevates Ibanera’s role in this vibrant market but also enriches our ecosystem with advanced financial services.”

The partnership will enable Ibanera to integrate its advanced financial solutions, including its PORTL API and other services, within RAK DAO’s network. This integration aims to enhance the accessibility and functionality of Web3 solutions and digital asset management for businesses ranging from startups to large enterprises.

Michael Carbonara, CEO of Ibanera, emphasized the strategic fit of the collaboration, “Joining RAK DAO’s ecosystem is a thrilling opportunity for us. Ras Al Khaimah’s progressive regulatory environment and business-friendly policies provide an ideal foundation for our growth. We look forward to contributing to and benefiting from the innovative community RAK DAO supports.”

Ibanera’s platform, known for its secure and innovative financial services, will now offer RAK DAO’s Web3 businesses a seamless experience, from NFT tokenization to advanced digital banking. This partnership is set to drive significant advancements in the fintech and digital asset spaces, reflecting both companies’ commitment to innovation and excellence.

Stc Bahrain launches Web3 infrastructure with Avalanche Blockchain

Stc Bahrain launches Web3 infrastructure with Avalanche Blockchain

Stc Bahrain recently announced the launch of “Intersect the Network” on Avalanche Blockchain. As per the press release, the initiative aims to advance Web3 innovation, promote digital transformation for decentralized applications (dapps). In April 2024, stc Bahrain announced its partnership with Avalanche Blockchain to build Web3 in the MENA region.

Intersect aims to be the entry point for new users and organization to transition from the world into the Web3.

The infrastructure for this network has been provided through a joint collaboration between stc Bahrain and their Qal’at Path partner Avalanche.

To commemorate the launch of ‘Intersect the Network’, a 30-day virtual Web3 Makeathon + Hackathon will be held starting August 12. stc Bahrain, along with Avalanche, is proud to announce their title sponsorship for this event. Additionally, Nirvana labs, Chainlink, Lionscraft, OneKey, K3 Labs and Candide Labs will be event partners, sponsoring exciting prizes for the participants. The event aims to bridge the gap between the real world and the world of Web3, fostering creativity and innovation through both coding and non-coding tracks.

No-code tracks will invite artists to design unique artwork and profile pictures, while coding tracks will challenge developers to build solutions in Gaming, Music, Media, Interoperability, and Security on ‘Intersect the Network’. Registrations for the Intersect Makeathon + Hackathon are now open at intersect.to

“We are thrilled to unveil Intersect, a new blockchain network on Avalanche that opens up new possibilities for Web3 innovation. We hope this platform will serve as a catalyst for Web3 development, providing a space for groundbreaking applications and services globally. This initiative also underscores our dedication to empowering the people of Bahrain with innovative solutions and new technologies in line with Bahrain’s Vision 2030 goals. The upcoming Intersect Makeathon + Hackathon is an exciting opportunity for creative minds from all over the world to showcase their talent and bring innovative ideas to life. We can’t wait to see how participants will leverage this platform to intersect the real world and the world of Web3.”

“We are proud to announce a significant milestone in our partnership with stc Bahrain through the unveiling of the Intersect Avalanche L1. We hope this initiative will help enhance the Avalanche ecosystem both in the Middle East and worldwide, fostering a thriving environment for decentralized applications. In addition, we’re excited to support the upcoming Makeathon + Hackathon, a great opportunity for developers and artists alike. We look forward to seeing some amazing applications and innovations come to life.”

For more information and to participate in the Intersect Makeathon + Hackathon, visit the website at intersect.to   
 

Saudi Arabia Web3 sector grows amidst challenges

Saudi Arabia Web3 sector grows amidst challenges

Cardano Blockchain accelerator, Adaverse published its first Web3 ecosystem report for the Kingdom of Saudi Arabia showcasing growth, opportunities, as well as challenges. Since its inception, Adaverse has funded 54+ startups across Asia, the Middle East and Africa.

Web3 Growth

According to the Adaverse report, Saudi Arabia is well positioned to witness growth in the Web3 ecosystem. One of the main reasons is that is it the largest market in GCC with a youthful and tech savvy population. Already 63% of its 36 million residents are under 30, and 99% of Saudi residents are connected to the internet.

In addition, the ambitious Vision 2030 initiative further strengthens this by fostering a robust tech and innovation ecosystem. Saudi Arabia has also seen growth in funding for startups and Web3 ventures.

In 2024, according to Digital Digest, MENA based startups secured $429 million across 163 deals, with Saudi startups receiving 515 of the funding across 36.2% of the deals.

The Web3 startup ecosystems has four layers, the use case layer, the tooling and developer layer, the infrastructure layer, and the protocol layer.

According to the Adaverse report, the notable concentration in the user-facing application layer, indicates growing Saudi consumer interest in DeFi, GameFi, and SocialFi. Meanwhile, the scarcity of foundational infrastructure and protocol startups, presents a unique opportunity for entrepreneurs and investors to fill crucial ecosystem gaps.

Web3 startups in KSA includes names such as Umrah Cash, Verofax, TakaDAO, Ticket Souq, Dropp, TGE, MRHB, IR4LAB, Mithu, Nuqta, and others.

For example, Oumla, is a blockchain infrastructure provider that offers secure custody solutions and comprehensive infrastructure services for governments and businesses alike. With a suite of SDKs, Oumla enables developers to seamlessly build on various blockchains without the need to master blockchain.

Mohammed Aljasser, Founder and CEO of Oumla noted in the report, “Oumla’s journey began in 2022, when we laid the foundation for an exceptional blockchain infrastructure. In 2023, we officially launched our product, receiving overwhelmingly positive feedback from our customers. Building on this momentum, we are now preparing to introduce additional blockchain networks, along with a range of new features and products designed specifically for the MENA region.

He adds, “Notably, Saudi Arabia is making significant strides in embracing blockchain, evidenced by the burgeoning emergence of applications and experimental initiatives. It’s clear that blockchain is more than just a passing trend; it represents a seismic shift in digital infrastructure.”

According to him dealing with regulations has been one of the biggest hurdles in the blockchain world. But despite these challenges, he is convinced that blockchain is here to stay.

Another startup, Tharawat Green Exchange (TGE) is a blockchain-powered marketplace connecting carbon off setters with tree planting projects to achieve sustainability goals. TGE transparently tracks tree planting and maintenance, aiming to plant 10 million trees by 2030. This enhances Saudi Arabia’s Trade for a Greener Tomorrow green economy and supports local nurseries, ensuring transparency and security.

Opportunities

As per the report, key opportunities in Saudi’s Web3 space include fintech, where DeFi solutions promise enhanced financial transparency and efficiency. Blockchain integration in supply chain management, real estate, and digital identities offers transformative potential.

In addition to fintech, the entertainment and gaming sectors are also ripe for growth, with blockchain-based platforms opening new avenues for engagement and monetization.

Saudi Arabia is the largest gaming market in MENA with the gaming sector value proposed to reach $6 billion by 2027. MENA region contributes already 15% of the global gaming population.

In KSA, it is estimated that there are 21 million active gamers, constituting a remarkable 58% of the country’s population [22]. This substantial player base provides a strong foundation for the industry’s expansion.

Recognizing the potential of the gaming industry, Saudi Arabia established a comprehensive National Gaming and Esports Strategy (NGES). Aligned with broader economic objectives, the NGES aims to create 39,000 job opportunities and contribute $12 billion to the economy by 2030 [23].

However, despite this dominance, the adoption of Web3 gaming progresses at a measured pace. As per the Adaverse report, this gap presents a prime opportunity for young Saudi founders to lead the development of blockchain-based games and integrate advanced technologies such as NFTs, AI, and play-to-earn mechanisms into the existing Web2 gaming market.

The same goes for the Saudi Fintech sector which has attracted substantial funding, totalling $552 between 2020 and 2021.

The report also notes that the country’s tech landscape is uniquely characterized by its focus on recreational

and entertainment-based Web3 projects, particularly in gaming, NFTs, and GameFi, positioning Saudi Arabia as a regional hub for these emerging sectors.

The Challenges

According to the Adaverse report, regulatory uncertainty, the need for greater awareness and education around Web3 technologies and concerns about technological infrastructure  and cybersecurity are key hurdles.

Future of Web3 in KSA

In conclusion the report recommends that for Saudi Arabia to fully realize its potential, it must address challenges, such as establishing regulatory clarity to create a stable business environment in the Web3 space.

Also, Saudi Arabia needs to overcome technical hurdles, such as improving user interfaces, which will be essential for enhancing adoption and user experience.

In conclusion, the report believes that by leveraging its favorable market conditions, government support, and growing investor interest, while addressing regulatory and technical challenges, the country can establish itself as a regional powerhouse in Web3 technologies. Nurturing local talent and fostering collaboration between stakeholders will be key to shaping the future of innovation and investment in Saudi Arabia’s Web3 sector.

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Dubai AI & Web3 Festival Launch FutureTech World Cup for startups

Dubai AI & Web3 Festival Launch FutureTech World Cup for startups

The first Qualifier round of FutureTech World Cup, one of the new initiatives launched by Dubai AI & Web3 Festival & Trescon to recognize and support the most promising emerging tech start-ups from around the world, was hosted successfully by the Dubai AI Campus on July 10, 2024. Ten pre-qualified global startups pitched their groundbreaking ideas to a panel of five esteemed jury members with three startups – Momint, Nettle and Orbii – advancing to the grand finale set to be held during the Dubai AI & Web3 Festival on September 11 & 12, 2024.

  • Momint: Recognised for its innovative approach and impactful solutions for accelerating clean energy.
  • Nettle, s.r.o.: Praised for its goal of redefining customer engagement with AI-Powered Digital Humans for the omnichannel age
  • Orbii AI: Honoured for its model of harnessing better data and intelligent AI models to help lenders make faster and more accurate credit decisions.

“The competition provides a platform for innovators to showcase ideas, gain exposure, connect with stakeholders, collaborate with peers, and access capital, while also driving advancements in AI, Web3, and global digital economies.”, said Naveen Bharadwaj, Group CEO, Trescon.

The distinguished panel of jury for the first qualifier included:

  • Hasan Fardan Al Fardan, CEO, Al Fardan Exchange
  • Ian Arden, General Partner, Mempool Ventures
  • Dr. Jonathan Doerr, Partner MENAP, Antler
  • Ahmed Refaie, CEO & Global CIO, G.P.J. Global Partners Investments
  • Sarah Abuagela, Partner & Head of Investment, Ceras Ventures

Serial Angel Investor & Chairman of Trescon, Mohammed Saleem said, “The FutureTech World Cup is designed to celebrate and elevate those who dare to believe they can transform the world of AI and Web3. Our goal is to support competent startups and founders from around the world with access to connections and investments that will help scale their businesses while ensuring they are solving real-world challenges”.

All start-ups qualifying to the grand finale are offered fully sponsored Start-up Pods at the Dubai AI & Web3 Festival and the penultimate winner receives fully sponsored one-year Dubai AI Campus License, Trescon credits worth USD 10,000 to be used for future events, access to mentorship by the Jury members, and networking opportunities with the industry’s finest, in addition to the coveted title of ‘FutureTech World Cup Champion’, which will help elevate their start-up’s overall journey.

The FutureTech World Cup aims to reshape the world of AI & Web3. This event kicks off with a qualifier round, spotlighting start-ups from around the globe. Held in partnership with leading organizations, these competitions provide a launching pad for revolutionary AI and Web3 concepts. Standout start-ups advance to the grand finale hosted at the Dubai AI & Web3 Festival.

The second qualifier round is expected to take place in August and the pre-qualification has already begun. Interested startups can apply for free on https://dubaiaiweb3festival.com/future-tech-world-cup/