Dubai Silicon Oasis Authority (DSOA), today announced plans to set up Dubai Technology Entrepreneurship Centre (DTEC), the largest entrepreneurship centre in the MENA region within Dubai Silicon Oasis (DSO), the integrated free zone technology park.
Set to be launched in Q1 2015, DTEC will encompass over 3,600 square metres 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 at DSOA, said: “At DSOA, we continuously make all the efforts to introduce innovations that enable entrepreneurs to take their ideas to the next level, and DTEC is a positive step in that direction. We are confident that the launch of 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 DSOA, DTEC will become the largest entrepreneurship centre in the MENA region.”
DSOA had earlier in April 2012 launched technology incubation centre ‘Silicon Oasis Founders’ (SOF) 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.
William 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.”
A wholly-owned entity of the Dubai government, DSO operates as a free zone technology park for the semiconductor, microelectronic and other high-technology based companies looking to set up their regional headquarters, as well as research and development facilities in the Middle East and North Africa region.