Chennai, February 18 The Global Research Foundation of IIT-Madras will establish its "first Applied AI Innovation Centre" at Dubai CommerCity to promote technology-led economic growth, officials said on Wednesday.
In its initial phase, the centre will host six applied AI startups with a combined valuation of around USD 118 million and projected revenues of USD 281 million over the next five years, according to a press release.
The initiative is being facilitated by MCA Gulf, a strategic partner of IITM Global in Dubai, the release added.
The centre aims to position Dubai as a regional and global hub for applied AI innovation, enabling solutions to be developed, deployed, and scaled through a long-term platform focused on sustainable innovation and value creation.
Prof Raghunathan Rengaswamy, Dean of Global Engagement at IIT-Madras, said the launch marks a pivotal step in globalising the institute's research.
"The initiative bridges academic breakthroughs with industrial scale to drive human-centric AI while establishing a strategic corridor for AI solutions anchored in safety and governance," he added.
Amna Lootah, Director-General of Dubai CommerCity and Dubai Airport Freezone, said the MoU marks a strategic milestone in advancing the free zone's role in digital trade.
She noted that the initiative strengthens the India-UAE technology corridor under the Comprehensive Economic Partnership Agreement (CEPA) and aligns with the Dubai Economic Agenda D33.
Thirumalai Madhavnarayan, CEO of IITM Global, said the agreement operationalises the technology corridor and establishes a high-velocity ecosystem in Dubai that accelerates market access for startups.
The IITM Global Research Foundation (also referred to as IITM Global) is a strategic initiative launched by the IIT-Madras on January 2, by External Affairs Minister Dr S Jaishankar.
Dubai CommerCity is a leading free zone dedicated to digital commerce in the Middle East, Africa, and South Asia.
The Memorandum of Understanding for the centre was signed on the sidelines of WORLDEF Dubai 2026, held from February 12 to 14, and inaugurated by Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, President of the UAE National Olympic Committee.