Dubai Future Foundation collaborates with Richemont to design the future of luxury retail

Dubai Future Foundation announced the launch of A new initiative, the first of its kind in the region in the retail sector, with the aim of encouraging and supporting emerging companies specialized in the field of technology to participate in a challenge to employ the latest technologies and innovations, thus contributing to the development of a quality and innovative experience for luxury brand customers.

The challenge, which is organized in cooperation between Richemont International and Dubai Future Accelerators, one of the initiatives of the Dubai Future Foundation, provides the opportunity for entrepreneurs and emerging companies from around the world to showcase their innovative ideas and solutions in employing the latest innovations in the retail sector and providing new services that guarantee customers an experience Unique by relying on the latest technologies of the future.

innovative solutions

This challenge is to re-design a distinctive experience for Richemont’s customers, enhance the value of its products and brands, employ the most advanced techniques for data analysis, study customer behavior and interaction, and enhance communication with them through various digital and traditional channels in innovative ways.

Customized experiences and services

Contribute to this Solutions by developing customized experiences and services that meet the needs of customers according to their desires, and help brands improve the level of their experiences and develop their strategies in the short and long term.

Entrepreneurs and startups wishing to participate in the challenge can send their projects and ideas until Saturday, April 26, 2022, via the electronic link: https://www.dubaifuture.ae/initiatives/future-design-and-acceleration/dubai-future-accelerators/challenges/

After the registration phase ends, a 4-week virtual program will be organized, starting in mid-May, and the participating companies will present their project before a jury comprising an elite group of experts and specialists to select the best qualified companies for the next stage, and invite them to Dubai to participate in a comprehensive 8-week program for work To develop projects in cooperation with the Richemont team before the final evaluation process to select the challenge winners.

Employing the latest emerging technologies in the retail sector

And he said Abdul Aziz Al Jaziri, Executive Vice President of the Dubai Future Foundation This challenge, which was launched in cooperation between the Dubai Future Accelerators and Richemont, comes within the framework of the Foundation's efforts to strengthen partnerships with the private sector at the local, regional and global levels, and to provide the opportunity for entrepreneurs and innovators to launch new solutions based on the use of technology from Dubai.

He added: “The retail sector is one of the most important economic sectors in Dubai, and these innovative solutions that will be developed in “Area 2071” will contribute to a qualitative leap in the retail sector by employing the latest emerging technologies, which will contribute to strengthening Dubai’s position as a global center for incubating, testing and developing the latest innovations in various vital sectors.

Dubai is a global destination for the retail sector

On the other hand, he said Pierre Viard, CEO of Richemont, Middle East and EuropeWe are proud of our partnership with the Dubai Future Foundation in launching this unique initiative in Dubai, which is considered one of the best global centers in the trade, retail and shopping sectors, and a preferred destination for customers who want a special and prestigious experience.

The benefits offered by the program to the participants

The Dubai Future Foundation will provide an opportunity for startups qualified to the final stages to communicate with many government agencies, institutions and investment companies at the local, regional and global levels, in addition to providing support for obtaining commercial licenses to work in Dubai, and providing the opportunity for entrepreneurs to work in a creative and integrated workspace. Within “Area 2071” and benefit from the technological infrastructure provided by Dubai to develop their ideas and projects, as well as the opportunity to apply for a golden residence visa in the UAE, and the travel cost of the finalists to Dubai will be fully covered.

Dubai Future Accelerators

It is noteworthy that His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council and Chairman of the Board of Trustees of the Dubai Future Foundation, launched the “Dubai Future Accelerators” program in 2016, with the aim of providing an integrated global platform for creating the future of strategic sectors, and creating economic value based on incubating Accelerate businesses and future technological solutions, and attract the best minds in the world to test and implement their innovations at the level of Dubai and the UAE.

The "Dubai Future Accelerators" organizes a series of specialized workshops, meetings and various professional and knowledge events within "Area 2071", and provides an ideal opportunity for joint work to find solutions to various challenges by exploring, developing and optimally employing future technologies.