An initiative has been launched as a start-up for digital incubator hubs growth in the UAE. Introducing Afkar.me is Saudi-based Intigral which is Mena region’s first comprehensive start-up incubator.
This will provide business people all the things they require to take ideas from conception to market then turn it into a realization. According to the firm, an initial fund of $250,000 will be used for first 3 months to start the project .
Dubai Internet City also introduced a similar initiative called In5 to establish UAE the newest hot spot for tech entrepreneurs and start-ups.
Meanwhile, Frost and Sullivan added that startups in the Middle East and North Africa region have increased in number by over eight times from 2005. Investments in new IT business in the region stood at 124 million dollars in the previous year.
They added that the present value of the regional digital market is about five billion dollar and it is anticipated to rise to 18 billion dollars by 2018.
The program will be a yearly initiative with 4 applications a year, aiming at 2 intakes each from UAE and Saudi Arabia respectively.
This application is accessible in the web and ten teams will be chosen in the initial phase. From this, 3 will be chosen to improve their businesses with AFKAR.me.