Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Executive Council of Dubai, said that Dubai's vibrant entrepreneurial ecosystem has enabled a host of technology startups to write global success stories.
Sheikh Hamdan said during a meeting with Pavel Durov, founder and CEO of Telegram, one of the world's leading cloud-based instant messaging and VoIP services, that Dubai provides all the elements needed for new ventures of all sizes to succeed, from world-leading technology and regulatory structures to the availability of incubators and smart funding.
Telegram, headquartered in Dubai, is estimated at more than $20 billion and has more than 570 million subscribers, 100 million of which were acquired in January alone.
Telegram became one of the world's top 10 most downloaded and popular apps in 2020. It is anticipated to have one billion active users per month by 2022.
Sheikh Hamdan said: "Dubai's ability to provide a productive growth-oriented environment for technology startups is validated by the fact that some of the world's most exciting and successful digital companies like Telegram have chosen to run their ventures out of the emirate. We continue to welcome great talent and ideas to Dubai which offers a nurturing ecosystem for their development."
Pavel Durov expressed his appreciation for the vision of Dubai for a vibrant technology community that has played an important role in driving growth, innovation, and entrepreneurship well beyond the boundaries of Dubai in the technology field.
"The startup ecosystem, advanced infrastructure and business-friendly legislation offered by Dubai have made it a hub for talent and entrepreneurs aspiring to go global from all over the world."