Ras Al Khaimah has officially rebranded its RAK Digital Assets Oasis (RAK DAO) as Innovation City (INC), taking a significant step towards establishing the emirate as a global hub for technology and innovation. This transformation aims to attract entrepreneurs, creators, and visionaries to shape future industries.

Operating as the world’s first AI-powered free zone, Innovation City integrates artificial intelligence into its regulatory frameworks, services, and support systems to streamline business processes and foster growth. The initiative focuses on five pillars:

• Web3 & Digital Assets
• Artificial Intelligence (AI)
• Gaming & iGaming
• Robotics
• Healthtech & Digital Health

By concentrating clusters of innovators and builders, the project aims to create a thriving ecosystem for emerging industries.

Official Innovation City Website: https://www.innovationcity.com

Infrastructure and Development.

• Land Development: Innovation City shall create prime land in Ras Al Khaimah whose infrastructure is targeted towards technology enterprises.

 

• AI Inclusion: The inclusion of artificial intelligence is expected to facilitate the organization of the company operations, boost the development of the business, and appeal to progressive companies.

 

• Sector-Specific Clusters: The project will be targeted at the development of clusters around the major sectors to enable the companies within the same industry to collaborate and innovate.

Strategic Location and Lifestyle.

• Access to Dubai: Ras Al Khaimah is in close proximity to Dubai which has modern amenities and is able to access the rest of the world through transport connections.

 

• Natural Landscapes: The emirate has natural landscapes and culture giving the residents a balanced lifestyle and visitors, as well.

 

• Quality of life: This is a business opportunity, as well as quality of life, which makes Ras Al Khaimah an appealing destination of global talent and innovative companies.

Leadership and Vision

Sheikh Mohammed bin Humaid Al Qasimi, who is the Chairman of the Innovation City:

• Underlined the idea that the project is created to make Ras Al Khaimah a long-term entrepreneurship and innovations hub.
• The statement said, This is about shaping industries and putting Ras Al Khaimah on the map as a capital of innovation for decades to come.

Paul Dawalibi, CEO of Innovation City:

• Noted that the project is in line with the vision of Ras Al Khaimah Ruler, Sheikh Saud bin Saqr Al Qasimi, sustainable development, economical diversification, as well as innovation.
• Added, we are not merely constructing another free zone but the future, with Innovation City.

Global Implications

• Regional Hub: Innovation City should ensure that Ras Al Khaimah ranks among the top technology and innovation centers in the Middle East and North Africa (MENA) region.

 

• Global Talent attraction: The program aims to bring world start-ups and its businesses by providing them with an environment where they can grow and innovate.

 

• Economic Diversification: The project is in line with the wider scope of the vision of the Ras Al Khaimah leader in economic diversification and sustainable growth.

 

Conclusion

The repositioning of the RAK Digital Assets Oasis to Innovation City is a radical move by the Ras Al Khaimah, which is also signifying the desire of the emirate to transform itself into a global technology, innovation and entrepreneurship centre. 

Incorporating artificial intelligence into its regulatory and functioning systems, the Innovation City establishes a groundbreaking example of free zones across the globe, with a smooth business process and increased growth opportunities.

Innovation City is set to be a destination of talent and visionary businesses among individuals from all over the world, as it has its emphasis on high potential areas like Web3, AI, gaming, robotics, and healthtech, as well as having cutting-edge infrastructure and a strategic location close to Dubai. Finally, such an initiative will not only enhance Ras Al Khaimah on the global innovation map but also promote sustainable diversification of the economy, which will form the basis of an ecosystem of the future, which is technologically advanced in the UAE.

Connect with E-Startup to launch and grow your business in Innovation City and the UAE’s tech hubs.

Gulf Business Article on Innovation City: https://gulfbusiness.com/rak-digital-assets-oasis-is-now-innovation-city