Ras Al Khaimah rebrands RAK DAO as an Innovation City -The First AI-Powered Free Zone in the World.
Ras Al Khaimah has officially changed its RAK Digital Assets Oasis (RAK DAO) to Innovation City (INC) making it one of the technological and entrepreneurial centers of the world. This radical change will be enticed to innovators, creators, and startups that will define the future of the industries.
The distinguishing feature of Innovation City is that it is the first free zone in the world, with its own model that is AI-based. Its regulatory structure and business services are artificially intelligent, therefore allowing companies to run smoothly as they promote faster developments.
The program targets five high impact areas:
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Web & Digital Assets
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Artificial Intelligence (AI)
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Gaming & iGaming
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Robotics
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Healthtech & Digital Health
Through the bundling of these sectors, the purpose of Innovation City is to develop a vibrant ecosystem that will enable entrepreneurs to create, grow, and exploit global opportunities.
Ras Al Khaimah is strategically situated close to Dubai and has provided modern infrastructure, international connectivity and high quality of life which is backed by the beautiful natural scenery. This synergy makes the emirate a place of world talent and innovative companies.
Sheikh Mohammed bin Humaid Al Qasimi, Chairman of the Innovation City, said that the project would develop industries, and put Ras Al Khaimah on the global map of innovation over decades. CEO Paul Dawalibi supported this vision and emphasized the fact that the initiative corresponds to sustainable development, diversification of the economy, and long-term growth.
Having Innovation City, Ras Al Khaimah is not making another free zone, but the future of innovation.
Are you willing to join this transformation? Launch and develop your business in Innovation City and other UAE tech hubs with E-Startup.
