Dubai Internet City announces new Innovation Hub, which will provide 1.6 million sq. ft. of dedicated space to around 15,000 knowledge and creative workers
Dubai Design District’s Creative Community will provide an inspiring and dynamic destination covering an area of 1 million sq. ft. for emerging designers and artists
AED 4.5 billion will be invested in TECOM Investments ‘ new innovation driven initiatives
In support of His Highness Sheikh Mohammed Bin Rashid Al Maktoum’s vision to transform Dubai into an innovation-driven economy, TECOM Investments has 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.