Emirates NBD, Microsoft Partner for Metaverse Accelerator

Emirates NBD, one of the largest lenders in the Middle East and North Africa region, announced on Wednesday that it has opened accelerator program For startups looking to enhance customer experiences in the Metaverse.

The ten-week program will help startups create value, gain experience and expand the metaverse technology pools in the region, with a demo at GITEX for selected entrants.

The leading bank is looking for startups and emerging technologists to develop counterpoint to financial points with three ambitions:

  • Building techniques to facilitate the transition to immersive 3D technologies
  • Create immersive worlds to improve customer experiences
  • Monetization of digital assets and services through Decentralized Finance Infrastructure (DeFi)

Partnership with Dubai International Financial Center (DIFC) Fintech Hive and US tech giant MicrosoftThe program aims to support Dubai’s Metaverse strategy, which includes reaching the top ten worldwide and supporting nearly 40,000 virtual and technology jobs by 2030.

The strategy hopes to attract $4 billion into Dubai’s economy within five years, using Web3 to increase its digital footprint while building better experiences for its customers.

Comments on FinTech Push

Raja Al Mazrouei, Executive Vice President of the Dubai International Financial Center for FintechIn a statement, he said his company was “delighted” to work with Emirates NBD to develop the accelerator, which is “rapidly growing and seeing increased interest from around the world.”

He continued:

This move reaffirms our commitment to support Dubai’s ambition to be among the world’s top ten economies. At DIFC Fintech, we continue to adopt the latest technologies to keep pace with the growing momentum in the global digital space”

Naim Yazbek, general manager of Microsoft UAE, echoed Al Mazrouei’s comments, adding that Metaverse offers an “exciting opportunity to create transformative solutions” to revolutionize customer journeys and experiences.

In conclusion, he said:

“Innovative technology startups play a crucial role in this reimagining, bringing creative and unique perspectives to design a whole new world. We recognize the impact startups can have when armed with next-generation technologies that bring their ideas to life, and we look forward to To work with these innovators and help them realize this potential over the course of the program.”

Dubai invests in Metaverse for future success

This news comes at a time when Dubai is starting to fuel it Metaverse strategywhich will foster a new ecosystem of virtual, augmented, and mixed reality (VR/AR/MR), blockchain, 5G, non-fungible tokens (NFTs), and many other emerging technologies.

Other areas of interest include national tourism, healthcare, education, the legal system, and remote work, among others, as well as building global standards to create interoperability for the Metaverse.

Microsoft has been a longtime partner of the United Arab Emirates, specifically after that open sales of HoloLens 2 MR headphones combined with the Azure cloud computing platform for customers and businesses in July of this year.

Dubai Ministry of Health and Prevention (MOHAP) also launched metaverse platform In a bid to contact citizens in an effort to expand access to health care for individuals residing remotely.

Visitors can attend the virtual space to talk with real doctors, learn information, pay medical fees, upload documents, and perform other services remotely.

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