Dubai Future Foundation, Meta launch business incubator programme

Dubai Future Foundation (DFF) and Meta have jointly launched a business incubator programme,an initiative that holds the potential to revolutionise the way we leverage Large Language Models (LLMs) for product and service innovation across industries.

The new programme will leverage Meta’s open-source AI stack to help solve real-world problems, unlock economic value and contribute to overall economic growth.

The business incubator programme is aligned with the goals of the Dubai Universal Blueprint for Artificial Intelligence, an initiative that seeks to add Dhs100bn through digital transformation and increase economic productivity by 50 per cent.

DFF and Meta said the programme seeks to position Dubai, home to eight global tech unicorns, as a nurturing environment for artificial intelligence (AI) companies and global talent.

The business incubator programme will foster collaboration and help exchange knowledge and expertise in AI product development. It will enhance innovation, improve the competitiveness of entrepreneurial projects, and develop opportunities and talents.

The programme will support the creative initiatives that open new horizons in the digital economy, which is expected to reach $780bn by 2030.

“Through such programmes, we aim to create new opportunities and provide fertile soil for startups’ rapid growth. This will support the overall innovation system and bring innovative AI solutions and applications to life for the betterment of humanity,” said Abdulaziz AlJaziri, deputy CEO of Dubai Future Foundation.

AlJaziri said the programme will cement Dubai’s position as a global testbed and a vibrant environment for AI-based innovation and service development across vital future sectors.

The programme is part of Meta’s initiative to leverage its open-source AI suite, fostering innovative solutions and activating economic opportunities that contribute to inclusive economic growth.

The programme covers five key sectors: energy, transportation, aviation, tourism, and retail. Meta and DFF’s joint business incubator programme is based on the unique open-source “LLAMA 3” model, which can be used to develop beneficial AI applications across various sectors.

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