Tecom Investments unveils future strategy, initiatives

Dubai: Tecom Investments on Saturday unveiled future strategy and initiatives to support Dubai’s transformation into a global innovation hub by investing Dh4.5 billion in new innovation driven initiatives.

Tecom’s Dh4.5 billion investment 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. — Supplied photo

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 company’s Dh4.5 billion investment 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 second quarter of 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 square feet of commercial office space, resulting in a total of 16 million square feet of dedicated space across a number of Dubai’s prime business locations.

“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,” Dr Amina Al Rustamani, Group chief executive of Tecom Investments, said.

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 first quarter of 2017. It will nurture talent and creativity, and foster the continued growth of the region’s start-up and entrepreneurial landscape.

“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,” Dr Al Rustamani said.

“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.”

— muzaffarrizvi@khaleejtimes.com