Dubai Silicon Oasis to host MENA's largest entrepreneurship center
The Dubai Silicon Oasis Authority, or DSOA, on Saturday announced plans to set up the Dubai Technology Entrepreneurship Centre, or DTEC, the largest entrepreneurship centre in the Mena region within Dubai Silicon Oasis, the integrated free zone technology park.
Set to be launched in the first quarter of 2015, the DTEC will encompass over 3,600sqm that will provide existing and emerging high-tech entrepreneurs and start-ups with a highly-motivating and efficient work environment that supports entrepreneurial activities and boosts the creativity of talented technology enthusiasts.
William Chappell, chief financial officer of the DSOA, said: “At the DSOA, we continuously make all efforts to introduce innovations that enable entrepreneurs to take their ideas to the next level, and the DTEC is a positive step in that direction. We are confident that the launch of the DTEC will prove beneficial to the economy as a whole through integrating local and regional talent into the country’s workforce and supporting individuals and teams in turning their ideas into reality. With the full support of the DSOA, the DTEC will become the largest entrepreneurship centre in the Mena region.”
The DTEC will build on the success of the DSOA’s current technology incubation centre — Silicon Oasis Founders, or SOF — that was launched in April 2012 to promote local entrepreneurial talent in the IT sector. The technology incubation centre offers emerging entrepreneurs an opportunity to advance their business through providing consultancy, mentoring, workspace facilities and networking opportunities. SOF has so far supported more than 200 entrepreneurs with their business plans, invested financially in four businesses, and in the process of investing in two additional companies. It is also expected to grow the portfolio of technology companies receiving financial support further during 2014.
Chappell added: “Through our incubator, we have gained significant insights and experience into entrepreneurial requirements and are able to support successful ventures that can evolve into self-sustaining organisations within Dubai and the UAE and in turn provide employment opportunities to both nationals and residents of the UAE.”