- DMCC and DWF collaborate to attract new Crypto firms to Dubai.
- The collaboration was announced at an event by DWF.
- Aim to invest in 50 startups of web3 and blockchain business.
Dubai Multi Commodities Centre (DMCC) has partnered with DWF Labs to attract new blockchain and web3 startups to Dubai. The collaboration was announced at the “Sunset Meet and Greet” by DWF Labs, unveiling a new $5 million growth platform for blockchain and web3 businesses at the DMCC Crypto Centre. The collaboration aims to invest in 50 startups in the web3 and blockchain space.
DMCC
DMCC is the largest free trade zone in Dubai, established in 2002. It works in commodities exchanges, including precious commodities, steel, metal, energy, and agriculture. Ahmed bin Sulayem is the CEO and Chairman of DMCC.
Ahmed Bin Sulayem, Executive Chairman, and CEO of DMCC said that Dubai is known the world over for its leading position as a hub for web3 technologies. The DMCC Crypto Centre has been an integral part of the emirate’s successful crypto journey, housing the region’s largest concentration of web3 and blockchain businesses.
The partnership with DWF Labs further exemplifies the maturity of the crypto business community that we have built, as well as the significant commercial opportunities that Dubai presents.
DWF
DWF Labs is an investment company that offers digital assets globally for web3 businesses. Andrei Grachev, Managing Partner of DWF Labs, said that DWF Labs’ core goal is to invest in and support innovative entrepreneurs within the web3 space.
Partnering with DMCC and its Crypto Centre is the right step as they expand their footprint both in Dubai and globally. The ecosystem that DMCC has built offers a strong pool of crypto talent that they are looking forward to being part of, building upon, and ultimately further facilitating its success.
DWF Labs will establish an organization that creates startups to support blockchain and new web3 businesses. The company will be using the DMCC Crypto Centre and Dubai as a center to grow businesses worldwide.
The DWF Venture organization will provide several benefits to new startups to grow their business established at DMCC, including mentorship, training and workshop sessions, connection and support to the global market, and consulting services.
DWF aims to invest in 50 startups and offers the foremost business operating in web3 $500,000. The investment firm will also provide support and mentorship to these startups, with the aim of helping them to grow and scale their businesses.
The DMCC Crypto Centre has been crucial in establishing Dubai’s position as a hub for web3 technologies. It houses the region’s largest concentration of web3 and blockchain businesses, offering a supportive environment for entrepreneurs and startups.
With the new collaboration with DWF Labs, DMCC is poised to attract even more blockchain and web3 startups to Dubai, further establishing the city’s position as a global hub for these technologies.
To conclude, the partnership between DMCC and DWF Labs is an exciting development for the blockchain and web3 space in Dubai. With the new $5 million growth platform and support from DWF Labs, startups in this space will have access to mentorship, training, and connections to the global market. This partnership will likely attract even more blockchain and web3 startups to Dubai, further cementing the city’s position as a hub for these technologies.