The RAK Digital Assets Oasis has been renamed and relaunched as Innovation City (INC), establishing Ras Al Khaimah as a center for technology and innovation, according to official sources.
This initiative aims to build a global network for entrepreneurs and innovators, with an initial focus on five key sectors: Web3 and digital assets, artificial intelligence, gaming and iGaming, robotics, and health technology.
Sheikh Mohammed bin Humaid Al Qasimi, the chairman of Innovation City, expressed that this venture would significantly influence industries, placing Ras Al Khaimah prominently on the map as a leading innovation capital for many years to come.
AI-Enhanced Free Zone in Ras Al Khaimah
Innovation City will function as an AI-enhanced free zone, leveraging artificial intelligence to craft regulatory frameworks and optimize business processes.
The project will also focus on developing prime real estate in Ras Al Khaimah, specifically designed to meet the needs of technology firms.
Paul Dawalibi, CEO of Innovation City, stated that the initiative aligns with the vision set forth by Sheikh Saud bin Saqr Al Qasimi for sustainable growth, economic diversification, and innovative advancement.
Ras Al Khaimah is marketing Innovation City as an ideal starting point for international startups and businesses, highlighting lifestyle benefits, proximity to Dubai, as well as the emirate’s natural beauty and cultural richness.