Dubai Ruler, Vice President and Prime Minister of UAE, His Highness Sheikh Mohammad Bin Rashid Al Maktoum has launched Dh4.5 billion worth of major investments in Dubai’s internet and media zones on the 15th anniversary of Dubai Internet City as of the initiative to make Dubai a center for innovation in the region.
Dubai Internet City and Dubai Media City house nine specific business districts within six key sectors in information technology, communication, media, education and biosciences.
The said projects which will be implemented within five years include space for innovation complexes at 10 million square feet, as well as the technology laboratories and smart buildings. Business incubators for emerging ideas and financial funds to encourage innovation are also included on the plan
The projects are intended to form an integrated system of innovation platforms and an ideal smart environment that will attract the best talent from inside and outside the UAE. The platform will include direct links to financing and marketing channels.
The vision for these projects is to attract young pioneers to entrust themselves to innovative projects, contribute to the national economy and increase the number of patents registered for the UAE. The strategy s meant to boost the number of companies to 10,000 in the fields of content, technology, knowledge, education, development and research sectors and to build up the number of people engaged in these areas to 100,000.
Dubai Media City is expected to observe remarkable adjustment during its transformation into a global hub for media and social media channels, catching the attentions of those knowledgeable and experienced to develop new tools, create new content, conduct new research and develop new applications.