Dubai’s innovation ecosystem gets boost from TECOM, partners

20 May 2019

To increase the opportunities available to innovators locally and internationally, TECOM Group, a member of Dubai Holding and founder of start-up-enabling platform in5, signed a Memorandum of Understanding, MoU, with Dubai Future Foundation, DFF, and Dubai Development Authority, DDA.

Khalfan Belhoul, Chief Executive Officer of DFF; Abdulla Belhoul, Chief Commercial Officer of TECOM Group, and Jamal Alsharif, Chief Officer, Business Affairs at DDA, signed the MoU at AREA 2071, a DFF platform.

This partnership will aid collaborations between the UAE government entities and start-ups from around the world to develop and implement futuristic solutions to current challenges.

DFF will introduce start-up members to the in5 platform, where they will be provided with a simplified business set-up, access to creative co-working spaces and specialised state-of-the-art facilities. They will also have access to mentorship, learning opportunities, and a network of investors and strategic partners.

Stating that they were honoured to partner with DFF in implementing the shared vision of building a prosperous future, Abdulla Belhoul, Chief Commercial Officer of TECOM Group, said, “By bringing the brightest minds and the most promising start-ups 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.”

Khalfan Belhoul, CEO, DFF, said, “In line with the Foundation’s efforts to position Dubai as a hub for innovation and an ideal destination for start-ups and talents, this partnership is a step closer towards realising the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to highlight Dubai as a global incubator for developing advanced solutions, and a platform for partnerships.”

“A key element of such partnerships is providing support to young eager innovators, as they remain our most viable option to accelerate further economic growth in our country,” he added.

Al Sharif, Chief Officer, Business Affairs, DDA, said, “The partnership aligns with the authority’s strong legacy of promoting Dubai’s growth, backed by a robust regulatory framework. The MoU will help cement the emirate’s position as one of the world’s leading business hubs and advance its economic diversification strategy by enhancing the ease of doing business.”