TECOM Group plans start-up incubator for Dubai designers

Dubai-based TECOM Group plans to launch a new start-up incubator under the in 5 innovation center to provide entrepreneurs and fresh graduates in the field of design and fashion with a platform that can help transform their creative ideas into realities. 

The new space, located within Dubai Design District, is part of TECOM’s AED 4.5 billion innovation strategy to boost diversification and support talent by providing access to smart infrastructure.

The in5 design innovation center will allow young entrepreneurs access to specialized training, along with a better channel to investors and markets, said Malek Al Malek, CEO of TECOM Business Parks.

“We do have a lot of collaboration (within) the industry, giving the entrepreneurs the opportunity to interact with their relevant industry segment,” Malek said in response to a question asked by Argaam.

“We (also) have a lot of investment-related institutions that are keen in investing within these segments, but they don’t have access to or the platform where they can immediately see the difference ideas,” Malek said, adding that the new initiative will act as a bridge between the two aspects.

The design innovation center, which is expected to start receiving entrepreneurs in January, can support up to 100 business initiatives annually.

The facility will provide a prototyping lab with latest equipment, including 3D printers.

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 their field of design.

The design industry in the region is expected to reach $55 billion by 2019, according to the 2015 Design MENA Outlook report commissioned by the Dubai Design and Fashion Council.

“Growth in the design industry in the region is growing at double the rate compared to the world, which gives designers, the region and us an opportunity to capitalize on the industry,” Malek said.

TECOM, a member of Dubai Holding, set up the in5 innovation unit in 2013 with the aim incubate technology and digital start-ups. The in5 tech center has until now incubated over 160 companies and secured AED 58 million in funding.