The United Arab Emirates has launched the National Digital Talent Incubator (NDTI), a strategic initiative aimed at guiding the next generation of UAE-founded fintech companies towards global influence. This accelerator programme is open to participants of any nationality, provided that there is an Emirati founder or co-founder leading the initiative. The primary goal of the NDTI is to drive local digital talent development. The UAE’s fintech market is currently valued at $39.3 billion, according to Mordor Intelligence, and this programme aims to further enhance this burgeoning sector.
Key points of this development include:
- The NDTI is backed by industry giants such as DIFC Innovation Hub, Visa, Microsoft, and Dell Technologies.
- The programme offers a strategic blend of learning opportunities, practical exposure, and high-level networking possibilities.
- The inaugural cohort of the programme features four promising fintech companies, chosen for their potential to spur innovation in the region.
- The programme encompasses a unique Brand Masterclass, focused on branding-a frequently neglected aspect in most incubator programmes.
- The NDTI is expected to prepare the region for the next wave of innovators in fintech, building on an existing fintech ecosystem demonstrated by a 36 percent increase in DIFC’s fintech memberships since 2022.
Additionally, it is projected that digital investment in the UAE fintech market will grow by $10 billion over the next four years, reaching $25.12 billion. The UAE region also recently began accepting applications from companies intending to provide cryptocurrency services. This shows the forward-thinking nature of the UAE and its commitment to financial innovation. The NDTI programme is not an isolated intervention; it is slated to run again from March to May 2024, signaling the UAE’s long-term commitment to shaping the future of finance.
The chief operating officer of Emirates NBD, Abdulla Qassem, expressed his excitement and enthusiasm for the NDTI programme. In his words: “The launch of this unique programme reinforces Emirates NBD’s commitment to accelerate innovation, boost local talent, and entrepreneurial growth in the region.” He emphasized that unlike most incubator programmes worldwide, which focus solely on driving product innovation, the NDTI programme stands out because it facilitates participants to broaden their skillset, network, and influence.
