The Emirates, along with its neighbours Saudi Arabia and Qatar, has been open to embracing innovative technology developed in different parts of the world. At the same time, the gulf kingdoms are also laying the groundwork for digitisation of existing businesses and the rise of new tech ventures in the country, via high speed connectivity and smart tools.

The Emirati regime has even started preparing young minds and nurturing local talent with projects like the world's first AI university, along with initiatives to select cosmonauts from the UAE. As the country prepares its fleet of future tech titans, it has opened doors for global innovators to continue their work in the Middle East.

Abu Dhabi's startup haven Hub71 has provided a supportive ecosystem for new companies aspiring to launch state of the art products based on AI, cloud services and sustainable living. Now that a number of firms have benefited from funds and knowhow in the Emirati capital, the hub now plans to roll out a golden carpet for digital entrepreneurs, by offering residency in the country.

Innovators will get endorsement letters from Hub71's administration, and that will enable the entrepreneurs to stay in UAE for five years, so that future tech powerhouses can be established in the country. This seems like a part of the UAE's massive push for more homegrown tech firms, for which it recently offered golden residency to the world's top 100,000 coders.

Those working on fintech, healthtech, edtech and big data, will be prioritised for the Emirati golden permit, and people with an investment of AED 500,000 will be eligible.

Before this global brand Microsoft has also joined Abu Dhabi's efforts to assist smaller firms with technical know-how, computing power and financial assistance. At the same time, the city is developing a hub meant specifically for gaming startups.

Currently American firm Virgin Hyperloop is also receiving support in Abu Dhabi's innovation institute, for the development of a superfast public transport system.