Tecom Group, DFF, DDA sign agreement
Tecom Group has signed a memorandum of understanding (MoU) with Dubai Future Foundation (DFF) and Dubai Development Authority (DDA) that aims to accelerate the development of Dubai's innovation ecosystem.
The partnership will strengthen collaboration between the entities, broadening the opportunities available for innovators locally and internationally through strategic programmes.
Khalfan Belhoul, chief executive officer of Dubai Future Foundation; Abdulla Belhoul, chief commercial officer of Tecom Group; and Jamal Alsharif, chief officer - Business Affairs at Dubai Development Authority, signed the MoU at AREA 2071, a Dubai Future Foundation platform.
Founded by Tecom Group in the heart of its leading business communities, in5 seeks to bridge the support gap for aspiring talent and entrepreneurs in the region across the tech, media and design sectors. Since the inception of the first incubator in Dubai Internet City in 2013, in5 today has more than 180 active startups and helped them raise over Dh390 million. This strategic partnership will act as a catalyst for the collaboration between the UAE government entities and startups from around the world as set out by the Dubai Future Agenda, with the objective of developing and implementing futuristic solutions to current challenges.
Dubai Future Foundation will introduce startup members to the in5 platform, which in turn will provide them with simplified business set up and access to creative co-working spaces and specialised state-of-the-art facilities. Startups will be able to be part of the dynamic community of in5 where members have access to mentorship, learning opportunities as well as access to a network of investors and strategic partners.
Abdulla Belhoul, chief commercial officer of Tecom Group, said: "The new partnership aligns with Dubai's endeavours to anticipate and prepare for future challenges and turn them into opportunities. Through bringing the brightest minds and the most promising startups from around the world to Dubai and facilitating their synergies with local government entities, we seek to fast-track the development of the innovation ecosystem and enhance the emirate's position as a global hub for smart government models and future businesses. Tecom Group has always opened new avenues and attracted business partners from across the globe through offering a dynamic and integrated business environment. We also have a track record of enabling entrepreneurs and home-grown success stories to launch from Dubai."
Khalfan Belhoul, CEO of Dubai Future Foundation, said: "A key element of such partnerships is providing support to young eager innovators, as they remain our most viable option in turning the right wheels for further economic growth in our country."