Ras Al Khaimah has rebranded and relaunched RAK Digital Assets Oasis as Innovation City (INC), positioning the emirate as a hub for next-generation technology and innovation.
Designed to foster a global ecosystem for entrepreneurs and disruptors, the initiative will initially focus on five high-growth sectors: Web3 and digital assets, artificial intelligence, gaming and iGaming, robotics, and healthtech and digital health.
Sheikh Mohammed bin Humaid Al Qasimi, Chairman of Innovation City, noted that the project will “shape industries and put Ras Al Khaimah on the map as a capital of innovation for decades to come.”
Operating as an AI-powered free zone, Innovation City will leverage artificial intelligence to craft regulatory frameworks and streamline company set-up processes. The project will also see the development of prime land in Ras Al Khaimah with infrastructure designed specifically for technology enterprises.
Paul Dawalibi, CEO of Innovation City, emphasized that the initiative supports the vision of Ruler Sheikh Saud bin Saqr Al Qasimi for “sustainable development, economic diversification and innovation.”