Entrepreneurs flock to the in5 innovation hub as UAE tech start-ups continue to attract investment

07 June 2013

The In5 innovation hub, the UAE’s newest hot spot for tech entrepreneurs and start-ups, is witnessing a significant uptake in applications from budding ICT entrepreneurs.

The news follows findings of a report from Sindibad Business entitled Investment in Internet and Technology Start-ups in the Arab World which states that UAE tech start-ups attracted an overall estimate of $74 Million from 2010 to 2012, the highest in the region.

In5, which aims to support the development of the ICT start-up ecosystem in Dubai, was launched last month by Dubai Internet City (DIC), the Middle East and North’s Africa’s largest ICT community.

As part of DIC’s commitment to the development of the UAE’s ICT industry, in5 will be participating in the Arabnet Digital Summit, the largest regional event for web and mobile businesses.

The summit, which takes place at Altantis Palm Jumeirah from June 24-26, is set to convene more than 800 executives, investors, entrepreneurs, and media from over 25 countries.

More than 100 speakers will gather during the event to discuss the latest digital opportunities in mobile, media and advertisement, social media, e-commerce, and entrepreneurship. Speakers will also share their insights on the use of digital technologies in traditional industry sectors, namely healthcare, education, recruitment, retail, and real estate, among others.

Among them will be Majed Al Suwaidi, Director of Business Development at Dubai Internet City and Dubai Outsource Zone, who will participate in a special roundtable discussing entrepreneurship and angel investing.

Speaking ahead of the event, Mr Al Suwaidi said: “The availability of investors, access to thousands of international businesses and a developed ICT society all contribute to making the UAE a compelling destination for entrepreneurship and new start-ups. As such, the number of tech entrepreneurs vying to convert their ideas to commercial entities in the region continues to grow year on year.

“The ArabNet Digital Summit is clear proof of the insatiable appetite of innovators in the region to explore new trends, collaborate and network. However, starting any business can be fraught with uncertainty and In5 seeks to provide entrepreneurs in the areas of ICT, mobile and digital media with the infrastructure and support needed to launch their ideas, and to compete in the global marketplace.”

In5 provides entrepreneurs with a dynamic and engaging working environment from the early stages of idea creation through to idea implementation and the commercial launch of a product or service. Entrepreneurs can apply on an individual or company basis, and will be assessed by a committee of industry experts to determine their eligibility.

The hub will grant the selected entrepreneurs with five key benefits: set-up and logistics support, mentoring, training, networking opportunities and access to funding. Visit www.in5.ae.