TECOM Group is investing AED 60 million to support the development of Dubai’s media ecosystem
Dubai, UAE: TECOM Group, Dubai’s leading business enabler, has announced a new platform for media start-ups and entrepreneurs; in5 Media, as part of its AED 4.5 billion Innovation Strategy announced last year, to develop new business platforms to drive entrepreneurship and SME growth, and stimulate creativity and innovation across different sectors in the region.
Set to launch in Q2 2016 with an investment of AED 60 million, in5 Media, located in International Media Production Zone (IMPZ), will provide a home to up to 200 start-ups across the media value chain. The development will encompass state-of-the-art facilities, including creative space, studios, fabrication labs, mini studios, writing and training rooms, recording studios, screening and printing rooms, co-working lounges and more, to encourage the creation of innovative content and products.
in5 Media will support the development of the media ecosystem in Dubai by accelerating new start-up development, fostering entrepreneurship and crafting a space for talent to learn, network, train and build their skillset. Members will have access to a pool of mentors and industry experts, as well as investors, for support, insight and guidance across content and product creation, as well as a series of seminars, workshops and networking opportunities to learn and collaborate with others. Applicants will be assessed and guided by a committee of industry experts.
TECOM Group first invested in incubation and innovation centres in 2013, with the launch of Dubai Internet City’s in5, which has since been a major success, engaging with over 20,000 people through a series of hackathons, competitions and community events.
Commenting, Malek Al Malek, CEO TECOM Business Parks said;
“The number of entrepreneurs setting up in the region continues to grow year on year, and the UAE Innovation Week is a celebration of innovation in the UAE, serving as a definitive platform and destination for innovation and innovators in the region. The UAE’s favourable economic and business environment, world-class infrastructure and facilities, as well as access to thousands of international companies who have set up their businesses here, make it a compelling destination for new entrepreneurs and start-ups who are setting up in the region.”
“Based on the overwhelming success of our first in5 centre for the tech community, which has brought about innovative new ideas and technology, and resulted in funding as well as a number of partnerships, in5 Media will empower entrepreneurs and champion innovation and creativity across the media sector.”
“As Dubai’s media community continues to grow, with Dubai Media City, Dubai Studio City and IMPZ providing a home to over 2,000 companies and a workforce of 25,000, and over 5,000 media students in Dubai, in5 Media, a first-of-its-kind media hub, will drive the development of the Emirate’s media industry and support the development of a sustainable media talent pool. We hope to stimulate the growth of the start-up landscape within the industry, and give entrepreneurs a platform from which to succeed, as well as position Dubai as the engine of innovation and creativity for the Arab world.”