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Dubai Chambers and Hamburg Chamber of Commerce to establish new ‘Innovation Corridor’

Dubai Chambers has signed a new cooperation agreement with the Hamburg Chamber of Commerce to establish a ‘Innovation Corridor‘ between the two markets, an initiative aimed at supporting the success of companies and startups that offer innovative technologies, products and services in both cities. The agreement was signed during the first day of the Dubai Business Forum, which will take place on November 1 and 2 at Madinat Jumeirah in Dubai.

The agreement seeks to facilitate smoother market entry between the two cities and foster mutual collaboration in research and development, sandboxing and venture capital, as well as equip companies with the tools they need to achieve sustainable growth and expand to the international markets.

Commenting on the deal, Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chamberssaying,

“Our agreement with the Hamburg Chamber of Commerce is unique as it brings together the business communities of Dubai and Hamburg to drive innovation, research and international expansion. “This will contribute to improving the competitiveness of both cities, as well as allowing Dubai-based companies to benefit from the latest technologies, innovations and global expertise.”

swag emphasized,

“We remain committed to enhancing and developing Dubai’s dynamic business environment, and our partnership with the Hamburg Chamber of Commerce contributes to this key strategic priority. In addition, it will further boost our efforts to serve the emirate’s business community and enhance its competitiveness. and ability to overcome challenges by developing innovative solutions.”

Dr. Malte Heyne, CEO of the Hamburg Chamber of Commerce, commented,

“Hamburg and Dubai complement each other perfectly in terms of their innovation ecosystems. Hamburg has a large and established industrial sector, including basic industries such as copper, aluminum and steel, which are important for the energy transition, as well as logistics and aviation technology. For Dubai, Hamburg offers connections to renowned research institutions, world-class research infrastructure and a growing life sciences economy.”

doctor heyne aggregate,

“As a leading foreign trade location, we are also the gateway to other European markets. The Innovation Corridor with our proven and long-standing partner Dubai Chambers will accelerate the research and development of innovative solutions and enable access to markets in the region and beyond.”

As one of the leading markets for innovation and technology, startups and companies in Germany may face regulatory and legislative challenges that hinder applied research, rapid implementation and rapid development of technologies. Dubai can help companies overcome these obstacles by providing a supportive ecosystem and a suitable test bed for innovative German technologies.

The new cooperation agreement focuses on innovation as a key factor in shaping the future of economies and societies, based on its ability to unlock competitiveness, create jobs and improve quality of life across society. Businesses serve as the primary catalyst for overcoming challenges by contributing to the development of innovative solutions, products and technologies.

Dubai has become a leading destination for innovative business solutions, offering global companies a fertile environment in which to test new ideas while exploring opportunities with investors and private equity funds. The emirate represents an ideal partner to accelerate innovation and strengthen international partnerships with Hamburg’s business community, in line with the goals of the Hamburg localization strategy 2040.

The agreement was signed as part of The offer center a dedicated impact-driven platform for global business leaders and investors to forge and announce major business initiatives, partnerships, investments and business alliances during the Dubai Business Forum. The Deals Hub, an innovative initiative that reflects Dubai Chambers’ commitment to driving growth in international trade and investment, further cements Dubai’s position as a leading global city to do business.

Organized under the sponsorship of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, he Dubai Business Forum brings together key stakeholders from the public and private sectors around the world to explore opportunities for strategic economic partnerships, strengthen international networks and open new horizons for business, trade and investment.

News source: Emirates News Agency

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