ADGM Abu Dhabi Startup News

On June 6, 2023, a remarkable discussion unfolded in the Abu Dhabi Global Market (ADGM), hosted by Hub71, featuring leading AI visionaries and emerging tech entrepreneurs. At the core of the discourse was AI’s profound influence on startups and how it would bridge the generational divide and revolutionize work. OpenAI’s CEO, Sam Altman, has been globe-trotting, spreading the word about the transformative power of AI and the significant role the UAE can play in guiding its future.

Sam Altman is scheduled to host a live question and answer (Q&A) session on Tuesday, June 6th, at 6AM PST at the Abu Dhabi Global Market (ADGM). This dynamic session will provide an open forum where discussions on the future of AI, its opportunities, challenges, and its potential impact on the global landscape will be led by your questions. Sam Altman Abu Dhabi Sam Altman, President of Y Combinator between 2014 and 2019, and currently CEO of OpenAI, is an acknowledged leader in the global technology arena.

The Middle East, North Africa, and Pakistan (MENAP) region, with Abu Dhabi and Dubai at the helm, is embarking on a fintech revolution. This vibrant landscape is fueled by a young demographic and bolstered by a surge in venture capital, particularly in the United Arab Emirates (UAE), Saudi Arabia, Egypt, and Bahrain. The UAE, driven by the strategic efforts of Abu Dhabi and Dubai, remains an attractive investment destination, securing 37% of total funding directed to the region in 2022.

Abu Dhabi Global Market (ADGM) has launched a cryptocurrency hub to support the development of virtual assets, blockchain technology, and crypto assets in the region. The centre will enable businesses to navigate the regulatory environment both within the UAE and globally, access market opportunities, and network with industry peers. “Given the rapid emergence of new virtual assets such as cryptocurrencies and other related assets, ADGM is leading the way to introduce progressive frameworks and regulations around these technologies and developments,” ADGM said in a statement on Wednesday.

The leading cryptocurrency exchanges move to the UAE The UAE is set to be the world leader in virtual assets with more startups being formed and moving to the country than ever. Abu Dhabi has multiple blockchain and FinTech startups, as does Dubai, which nabbed the biggest cryptocurrency exchange Binance in September of this year. Binance was granted a provisional license in March to operate in Dubai and approval to join the minimal viable product (MVP) program from Dubai’s Virtual Asset Regulatory Authority (VARA) in September.