Tecom Business Parks has announced the launch of a new Dh60 million incubator building for media start-ups.
The facility, called in5 Media, will be housed in a purpose built centre in Tecom’s International Media Production Zone. It will contain creative space for media start-ups as well as editing suites and production studies, fabrication labs, recording studios, screening rooms and other facilities.
The building will house up to 100 start-up entrepeneurs for periods of up to five months while they develop their businesses. During that time, as well as access to facilities, the start-up entrepreneurs will also be able to access help from mentors and industry experts, an existing funding network and gain help with company registration.
Following today’s announcement, Tecom Business Parks said it would begin to accept applications from potential start-ups in the first quarter of next year, ahead of the building’s completion in the second quarter.
Malek Al Malek, the chief executive of Tecom Business Parks, said that the building had been created as part of a Dh4.5 billion innovation strategy announced by the organisation last year, and follows on from the earlier launch of the in5 innovation hub for technology companies in 2013. It is based at Dubai Knowledge Village and has interactedd with more than 20,000 people through various competitions, hakathons and community events.
“Based on the overwhelming success of our first in5 centre for the tech community, which has brought about innovative new ideas and technology, in5 Media will empower entrepreneurs and champion innovation and creativity across the media sector,” he said.
He added that the incubator would be able to draw on talent from Dubai’s existing media community, with Tecom’s Media City, Studio City and IMPZ currently home to 2,000 companies and a workforce of 25,000. There are also more than 5,000 media students in the city.
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