Aerial view of Dubai Media City looking east
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Dubai’s TECOM Group has announced a new platform for media start-ups and entrepreneurs as part of its AED 4.5bn Innovation Strategy announced last year.
The platform, named in5 Media, is designed to develop new business platforms, drive entrepreneurship and SME growth and stimulate creativity and innovation across different sectors. It is due to launch in in the first quarter 2016 with an investment of AED 60 million.
in5 Media is located in International Media Production Zone (IMPZ). It will provide a home to up to 200 start-ups across the media value chain, the Tecom Group says.
The development will encompass state-of-the-art facilities, including creative space, studios, fabrication labs, mini studios, writing and training rooms, recording studios, screening and printing rooms and co-working lounges to encourage the creation of innovative content and products.
The Tecom Group says that in5 Media will accelerate new start-up development, foster entrepreneurship and provide a space for talent. Members will have access to mentors and industry experts as well as investors. Applicants will be assessed and guided by a committee of industry experts.
TECOM Group first invested in incubation and innovation centres in 2013, with the launch of Dubai Internet City’s in5. Since then, it has engaged with more than 20,000 people through a series of hackathons, competitions 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, and resulted in funding as well as a number of partnerships, in5 Media will empower entrepreneurs and champion innovation and creativity across the media sector,” says Tecom Business Parks CEO Malek Al Malek.
More than 2,000 companies and a workforce of 25,000 are based Dubai Media City, Dubai Studio City and IMPZ.