Dubai Holding Launches DHx, An Investment Company Focused On Young Innovative Businesses
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MENA entrepreneurs, here's yet another initiative from Dubai to help you scale your fledgling ventures. Dubai Holding, the Dubai government-backed global investment company, has launched Dubai Holding Future Investments LLC (DHx), a regional investment enterprise that operates with the mission “to support the growth and development of young innovative businesses.” With the backing of Dubai Holding’s networks, assets and strategic advantages, DHx aims to help new enterprises “access capital, and specific industry expertise,” to scale their ventures. With Dubai Holding’s efforts being focused on supporting Dubai’s transition into an innovation-led economy, the company says it recognizes the crucial role played by entrepreneurs, startups, and SME’s in achieving this, and hence wants to help them grow their businesses.
Commenting on the launch, Ahmad Bin Byat, Vice Chairman & Managing Director, Dubai Holding says in a statement: “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. DHx seeks to identify promising companies and enable them to scale quickly and effectively, while delivering sustainable, long-term returns on investment.” Khalfan Belhoul, who has been appointed CEO of DHx, says that globally, as businesses inch closer to what’s being called the Fourth Industrial revolution, technology will dominate, presenting “a significant opportunity for Dubai to become a global hotbed for innovative startups, and venture capital investment.”
Dubai Holding has been a consistent supporter of entrepreneurs and SMEs in Dubai, and its impact on the region’s SME sector can be seen from its backing of organizations such as TECOM Group, in5, and Dubai SME, among others. More recently, in October 2016, Dubai Holding also partnered with Dubai Future Accelerators in the capacity of a founding entity, to identify and deploy of futuristic products and solutions for the Dubai’s development. Further, Dubai Holding announced in November 2016 that by way of their partnership with Dubai SME, they had facilitated contracts worth AED17 million in the first half of 2016 for members of Dubai SME.