Expand North Star 2024 attracts participation of 65 unicorns with a combined valuation of US$ 400 billion

Expand North Star 2024, organised by Dubai World Trade Centre and hosted by Dubai Chamber of Digital Economy at Dubai Harbour from 13-16 October, has attracted the participation of 65 unicorns with a combined valuation of US$ 400 billion. The presence of these international success stories underlines the importance of the event for leading global investors and digital companies operating in diverse sectors.

Unicorn company CEOs participating in the exhibition confirmed that Dubai represents an ideal gateway for establishing innovative digital projects and launching them globally. Attendees praised the emirate's stimulating environment for innovation and creativity, as well as its integrated business ecosystem that supports the ambitions of global companies specialising in advanced technologies to develop unique solutions that harness the power of artificial intelligence (AI) to serve all sectors.

The executives praised the diverse global presence at Expand North Star, which offers an inspiring platform to learn more about the latest technological developments and digital innovations. They noted that the exhibition has established itself as a global destination for communication, interaction, collaboration, as well as generating innovative ideas for launching other unicorn companies, which are witnessing rapid global growth.

A Thriving Ecosystem
During the exhibition, the unicorn companies highlighted Dubai's success in creating a thriving digital economy ecosystem through its efforts to attract startups operating in various tech sectors. The CEOs also emphasised the value of Expand North Star in providing a firsthand look at cutting-edge developments within the tech space, particularly in the rapidly evolving fields of AI and blockchain. The event serves as a source of inspiration, showcasing the transformative potential of technology across various sectors.

Strategic Hub for Expansion
Axelera AI, a Netherlands-based developer of high-performance AI chips, has set its sights on Dubai as a strategic hub for its Middle Eastern expansion. CEO and co-founder Fabrizio Del Maffeo stated: “Dubai is highly strategic location for software development and commercial expansion, particularly given its role as a gateway to rapidly growing markets such as India and Africa.”

Strong Growth Potential
Billon, a Polish company specialising in secure data and document exchange using blockchain technology, is equally impressed with Dubai's dynamic business environment. CEO Robert Kaluza remarked on the city's unique appeal, commenting: “Dubai possesses a remarkable ability to foster collaboration and attract global talent, making it a truly exceptional city.”

Romanian company Lumen, a developer of innovative assistive technology for the visually impaired, sees Dubai as the ideal launchpad for its groundbreaking ‘glasses for the blind.’ The company’s CEO Cornel Amariei emphasised Dubai’s commitment to innovation and its strategic importance: “Dubai’s standing as a global hub is undeniable. It represents a nexus of opportunity for companies aiming to operate on a global scale.”

Attracting Talent and Investments
The presence of these innovative unicorns at Expand North Star underlines Dubai’s growing influence as a global tech powerhouse. It also reflects the emirate’s commitment to providing enabling ecosystems for global companies across diverse sectors, attracting investments and talent, and fostering innovation to empower the technology sector to innovate new solutions that enhance the performance of key industries.

Expand North Star 2024 is the world’s largest event for startups and investors, and runs from 13-16 October at Dubai Harbour. The global gathering features over 1,800 exhibiting startups and more than 1,200 investors from over 100 countries.