Dubai Holding launches DHx to support development of young innovative businesses in MENA region
Dubai Holding, the global investment holding company, today announced the launch of Dubai Holding Future Investments, DHx, a regionally focused company, to support the growth and development of young innovative businesses in the region.
DHx will leverage Dubai Holding’s networks, assets and strategic regional position to enable new businesses to access capital and specific industry expertise to grow their enterprises from smaller operations into larger, global entities.
Ahmad bin Byat, Vice Chairman and Managing Director of Dubai Holding, said, "The growth of innovative businesses is the future lifeblood of economies and critical to job creation, talent development and the unlocking of creative ideas. 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 has been appointed Chief Executive Officer of DHx. Commenting on this new initiative from Dubai Holding to support the entrepreneurial ecosystem, Belhoul said, "The start-up and technological potential of the region is immense and Dubai has firmly established itself as the epicentre for commercial activity in the region. As the world progresses towards the fourth Industrial revolution, where technology and new business concepts will shape the way we live, there is a significant opportunity for Dubai to become a global hotbed for innovative start-ups, and venture capital investment. DHx seeks to be the catalyst in rapidly accelerating the growth of the ecosystem, and work hand-in-hand with the stakeholders in our sector."
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