Tecom Group signs MoU to accelerate innovation ecosystem

10X Industry

Tecom Group signs MoU to accelerate innovation ecosystem

Priya Wadhwa
10X Industry
Published:
Tecom Group signs MoU to accelerate innovation ecosystem
Plans support through In5

Real estate developer, Tecom Group has joined the race to boost Dubai’s innovation ecosystem. It has signed a Memorandum of Understanding with Dubai Future Foundation (DFF) and Dubai Development Authority (DDA) to put this plan into action.

The partnership with see Tecom Groups’ tech coworking place, in5 providing support for tech entrepreneurs and startups in the region. Since in5’s inception in 2013, it has been successful in supporting founders raise over AED 390 million; currently, it has more than 180 active startups.

Situated in Dubai Internet City, in5 is in a strategic place to attract startups from around the world to Dubai, which is one of the collaboration’s main aim. The incubator and co-working space will allow for simplified business set up and access to creative and specialised state-of-the-art facilities.

This is one of the many co-working spaces being set up in the city. There are plans for more innovative ones to open by the end of 2019, such as 500 spaces and WeWork. These initiatives and deals are set to boost its innovation, tech and startup scenes, poising Dubai to become the next innovation hub in the coming 10 years.

Read more about it here.

In5 will allow for simplified business set up and access to creative and specialised state-of-the-art facilities.