GITEX brings tech faithful to Dubai for top global gathering

GITEX Global 2024 kicked off today with tens of thousands of investors, startup founders and geeks from around the world elbowing their way through the world’s biggest tech conference, Omnia Al Desoukie reports from the floor of the Dubai World Trade Centre.

While the event pulses all week with dealmaking, product launches and pounding hip-hop music inside the colossal exhibition halls, it has also snagged Dubai International Airport and virtually all major traffic arteries leading to the venue, with top hotels fully booked months ago. Some 1,200 investors and 1,800 startups from more than 100 countries are participating in GITEX, organizers said.

Opening the proceedings on the main stage this morning, UAE Minister of Economy Abdullah Bin Touq Al Marri presented the small Gulf state’s ambitions to become a superpower in the development of AI technology and a magnet for the world’s top tech talent.

“The UAE wants to shape the global dialogue on AI, creating policies that promote responsible usage while pushing the boundaries of innovation,” Al Marri said. “The idea is to bring policymakers and tech experts together to create an environment where innovation thrives.”

Among other government and corporate leaders scheduled to appear were Omar Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; Peng Xiao, Group CEO of G42; Michael Spranger, President SONY AI; Isabell Gradert, Airbus Vice President of Central Research & Technology; Dr. Najwa Aaraj, CEO of the Technology Innovation Institute; and Dr. Mohamed Al-Kuwaiti, Head of the UAE Cybersecurity Council.

At the Expand North Star conference on Sunday, a GITEX spinoff focused on startups, Al Olama told the crowd of thousands at Dubai Harbour that putting money into the country’s early-stage companies will pay off for investors.

“We believe the future of the digital economy will be created in Dubai – in the UAE,” Al Olama said. “The UAE stands for building a business environment that is truly global.”

Where to position yourself on the Middle East conference circuit

While getting started in the world of Middle East business is largely about making personal connections, the inevitable question is: How?

What steps can investors, startup founders and entrepreneurs take to forge relationships and develop deals as they contemplate entering the MENA market? 

“Plugged In” debuts in the Daily Circuit today as a column that will regularly offer practical advice on approaching this dynamic and growing region – whether for the first time or through reigniting past conversations that were left by the wayside. 

On the heels of UAE President Sheikh Mohamed bin Zayed’s landmark visit to the White House last month, there is a growing worldwide focus on the GCC region to explore opportunities and create lasting ties. The fall is a particularly active season in the Gulf for both startup and broader investment conferences, which can be a useful and low-risk first foray into the Middle East market.

As the startup ecosystem continues to evolve, executives and investors can benefit from participating in these key industry events from October to the end of the year. They span from smaller get-togethers – like the Standard Chartered Women in Tech Demo Day with C3 on Oct. 10 that features 12 inspiring business founders – to massive conferences like GITEX, which welcomed over 180,000 attendees and 6,000 exhibitors in 2023.

GITEX (Oct. 14-8) is billed as the largest startup and investor connector events worldwide. It brings a diverse mix of personalities navigating the vast Dubai World Trade Centre, which can take 20 minutes to get from one end to the other.

Pre-planning is critical to leverage the full opportunity –  keeping logistics in mind is particularly important to meet as many people as possible within a day. The smaller workshops offer access to industry leaders from the region that provide practical insights for refining business models that have been successful in other markets. They will, of course, likely need to be tailored for GCC expansion. 

For those focused on global trends, the Future Investment Initiative (Oct. 29-31) – known as “Davos in the Desert,” – is a key event that attracted more than 7,000 participants last year. The forum at Riyadh’s plush Ritz-Carlton emphasizes economic diversification and investment strategies aligned with Saudi Arabia’s Vision 2030.

Engaging in discussions there can position participants as thought leaders and connecting with international investors may reveal new opportunities. FII has been a launchpad for significant investment, including the establishment of the Saudi Green Initiative, which aims to promote sustainability and climate-friendly technologies. In previous years, the conference attracted investments in technology startups such as e-commerce firm Noon.com and taxi-hailing app Careem, which have since grown into major players in the Middle East market.

Identifying sector-specific events with fewer attendees and more articulated outcomes can produce a more approachable first trip to the region. Healthcare entrepreneurs may find the World Innovation Summit for Health in Qatar (Nov.13-14) particularly relevant, as it addresses pressing global challenges in partnership with the World Health Organization. Startups in the healthtech space have opportunities to showcase their innovations, with past summits resulting in significant initiatives that support regional startups. Engaging with healthcare professionals and researchers can yield valuable insights and potential partnerships.

Anchoring the end of the year is the Abu Dhabi Grand Prix (Dec. 5-8), which is sandwiched between the Milken Institute’s Middle East and Africa Summit (Dec. 5-6) and Abu Dhabi Financial Week (Dec. 9-12). Come for the dealmaking and stick around for the Formula One festival, which includes nighttime concerts by Eminem, Muse and Maroon 5, while providing even more opportunities for casual networking at the F1 racetrack.

Brittany McDonough is a Boston native who has been working in the Gulf region since 2014. She is the former Head of Innovation with the Abu Dhabi Investment Office (ADIO) and is now advising organizations on navigating GCC market entry.