TECOM Group, a member of Dubai Holding, has launched its latest innovation centre for the emirate’s design and fashion ecosystem which will enable entrepreneurs, students and start-ups, to transform creative and disruptive ideas into commercial successes. The new in5 space, embedded within the thriving design community at Dubai Design District (d3), will be the third business incubator in the in5 network and will act as a catalyst for supporting industry diversification.
The United Arab Emirates’ ambition to pioneer a new era of innovation has set the nation on its next stage of growth, leading to the creation of a world-class diversified economy with Dubai being prominent amongst global business friendly destinations. In line with this, the AED 4.5 billion Innovation Strategy of TECOM Group was established to foster ecosystems which are founded on access to smart infrastructure to enable the development of start-ups and talent, resulting in the creation of dynamic business communities in the future.
Providing cutting-edge and specialised facilities at the new centre, in5 will also offer industry focused training and mentorship to its members, in addition to dynamic co-working spaces, offices, and community areas that are desiged to inspire creativity. This vibrant environment will enable the industry to connect at all levels through community wide networking events, access to investors and industry-leading market research.
The in5 facility will provide a unique prototyping lab, offering the latest equipment, including 3D printers, electronics and modern machinery for designers working with metals, wood, plastic and textiles. Members will also have access to a dedicated library of raw materials and design workstations to help develop their concepts into prototypes with the support of mentors and experts in the field of design.
The stimulation of the start-up lansdscape through in5, has strenghtened Dubai’s role as the region’s innovation engine and its position in creating a start-up ecosystem which mentors and helps enable global aspirations. Complementing in5’s community of entrepreneurs are thousands of international businesses across TECOM Group’s business communities which have created an environment of knowledge sharing, making Dubai a compelling destination for entrepreneurs to set-up in.
Malek Al Malek, CEO, TECOM Business Parks, said: “For nearly two decades, TECOM Group has grown rapidly to encompass the region’s most prominent business hubs. Today with in5, we have created an ecosystem which thrives on innovation and creative thinking. in5 was first launched as we recognised a gap in industry resources catering to the specific needs of entrepreneurs setting up their businesses in Dubai to create impact across our region. Having started with technology, in5 has evolved to supporting start-ups in the media sector and now with our entry into design, we will aid in setting a new benchmark in creativity. in5’s innovation centres will enable us to remain at the forefront of economic progress and Dubai’s future transformation into a destination for economic growth.”
“The latest in5 initiative is a much needed addition to the emirate’s start-up ecosystem and we are proud to be creating a new standard for entrepreneurs, who with knowledge transfer and the support to innovate in specialised areas, will be empowered for success. According to the 2015 Design MENA Outlook report commissioned by Dubai Design and Fashion Council and produced by Deloitte, the design industry in the region is expected to grow exponentially to reach US$55 billion by 2019. The recent MENA Design Educational Outlook report also highlights the need of at least 30,000 design graduates across key streams. We are excitided to see the in5 network help the design sector in the region achieve sustainable growth.”
Mohammad Saeed Al Shehhi, COO of Dubai Design District, said: ”In January, d3 will become the new home to the latest in5 initiative. As the region’s first destination dedicated to design we are continually looking for new ways to drive the growth of the design industry by nurturing local talent whilst allowing established brands to meet a new audience. in5 is another way in which d3 is innovating, inspiring and creating.”
“Mentoring the creative community is a key part of d3’s vision and through in5, we see our vision becoming a reality, supporting the design and fashion industry through offering students, entrepreneurs and new businesses the opportunity to transform their ideas into successful commercial ventures. Consequently, in5 is d3’s vehicle of innovation: the difference between dreaming and achieving.”
As TECOM Group’s incubation platform, the launch of in5 in 2013, introduced for the first time a new model of innovation centred on enabling opportunities for entrepreneurs in the UAE and the region. in5 has since created within Dubai a distinctive and well-rounded ecosystem for entrepreneurs through which start-ups are incubated and nurtured to their next phase of growth.
Creating real-world impact acoss the entrepreneurial value chain, in5’s technology innovation centre has successfully helped incubate 160 start-ups which have secured over AED 58 million in funding till date. In 2015, in5 established a multi-sector presence announcing the first of its kind media innovation centre in the UAE. The in5 media innovation centre will open in Q1 2017, giving entrepreneurs and content creators a new canvas for creativity in the digital world.
The in5 network of innovation centres is set to achieve 10x growth by 2017, with planned expansion into new sectors and will continue to attract, nurture and build skillsets and talent in the UAE. The accelerated transformation of ideas into innovative businesses across disciplines will play an imperative role in the future development of the UAE’s economy.
