Published On: Sun, Nov 2nd, 2014

Tecom investments unveils future strategy and initiatives to support Dubai’s transformation into a global innovation hub

Dr Amina Al Rustamani, CEO of TECOM Investments

Dr Amina Al Rustamani, CEO of TECOM Investments

In support of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision to transform Dubai into an innovation-driven economy, TECOM Investments today announced a new strategy focused on stimulating creativity and the development of new technologies, creating smart and sustainable infrastructure, and driving entrepreneurship and SME growth.

Specific initiatives that underpin TECOM Investments ‘ new strategic focus include the development of innovation complexes, creative spaces, technology laboratories and smart buildings, as well as the launch of new business incubators and the establishment of a dedicated start up fund to stimulate innovation.

The combined total investment allocated towards TECOM Investments ‘ new innovation focused initiatives is AED 4.5 billion. This will fund the development of infrastructure for d3’s Creative Community, Dubai Internet City ‘s Innovation Hub, incubator and creative spaces in all of the company’s communities, and will stimulate start-ups and entrepreneurs through the creation of a start-up fund and competition. TECOM Investments ‘ new start-up fund and competition will be launched by Q2 2015.

Over the next decade, TECOM Investments ‘ ambition is for this package of initiatives to: increase the workforce located in its business communities from 70,000 to 100,000; grow its business partner base from 4,500 to 10,000; and to provide an additional 10 million sq. ft. of commercial office space, resulting in a total of 16 million sq. ft. of dedicated space across a number of Dubai’s prime business locations.

To further drive innovation in Dubai, the company is also proud to reveal further detail for two major new projects: Dubai Internet City ‘s Innovation Hub and Dubai Design District’s (d3) Creative Community.

Innovation Hub Dubai Internet City ‘s Innovation Hub will focus on innovation across technology, new media, smart education and sciences, and phase one will be delivered in Q1 2017. It will nurture talent and creativity, and foster the continued growth of the region’s start-up and entrepreneurial landscape.

The Innovation Hub will be a thriving 1.6 million sq. ft. business development strategically located in the heart of Dubai Internet City , Dubai Media City and Dubai Knowledge Village. It will directly support His Highness Sheikh Mohammed Bin Rashid’s new vision and innovation strategy, by helping to transform these business parks into innovation-driven platforms and enablers.

It will offer companies of all sizes – including start-ups, SMEs and multinationals – world class facilities and services, robust and adaptable state-of-the-art infrastructure, and a vibrant working environment. In addition, the Innovation Hub’s 15,000-strong creative workforce will be given the opportunity to network and share knowledge with their peers, as well as access to a comprehensive programme of relevant events and activities running throughout the year.

This initiative will further strengthen Dubai’s existing position as a strategic business destination, and drive the Emirate’s transition into a leading global innovation-led economy.

d3 Creative Community The d3 Creative Community will cover a total area of 1 million sq. ft. within Dubai Design District, and will act as an incubator for emerging local designers and artists, as well as providing a natural home for art galleries and studios looking to engage directly with the region. The Creative Community is expected to evolve organically with adaptability providing one of its key attributes, enabling year round use of the built environment to cater for an active place management programme and flexible working spaces allowing businesses to grow and develop. Phase One of the development will be delivered in 2016.

Development of the d3 Creative Community concept is the result of an ongoing dialogue between d3’s management team and the region’s existing pool of creative talent, through focus groups, workshops, and a series of one-to-one workshop sessions. Inspiration was also sought by visiting thriving design destinations around the world, including New York’s Meatpacking District and East London’s Shoreditch, to better understand the core ingredients that make them popular.

Commenting, Dr Amina Al Rustamani, Group CEO of TECOM Investments , said: ” TECOM Investments is a committed partner in the Government’s efforts to transform Dubai into an innovation-driven economy. We see our role as enabling businesses and creative people to operate efficiently and effectively, but we are also seeking to actively engage, foster, and nurture talent and creative industries in order for them to have a positive impact on the UAE economy.

” Dubai Internet City ‘s Innovation Hub is being developed with an unwavering focus on supporting innovation and creativity, and its prime position among Dubai Internet City , Dubai Media City and Dubai Knowledge Village will bring a significant uplift in the volume of talent operating in the Emirate. With a design that focuses on versatile space, this community will offer significant flexibility for the many individuals and companies who will soon call it home.

“d3’s Creative Community is a pioneering initiative that will help to foster the growth of the UAE’s design industry, by acting as a dedicated destination for all things design, fashion, art and luxury. An exciting year round programme of events and activities will drive visitor footfall to d3 and increase international appreciation for regional creative talent.

“We want d3’s Creative Community to truly inspire creative flair amongst emerging designers and artists, and to encourage innovation within people more generally. But, we also want to establish an easily identifiable yet adaptable urban community that helps expose the region’s design industry and creative talent to the world, by enticing visitors and tourists to the site. Our aim is to whet the global appetite for regional design while also enhancing the commercial opportunities for regional talent.”

Source : WAM News Agency for United Arab Emirates

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