The authority of the free zone Dubai silicon oasis (DSOA) announced here on Saturday it plans to set up Dubai technology entrepreneurship center (DTEC) in order to boost entrepreneurs in the technology field.
DTEC is planned to be launched in the first quarter of 2015. DSO is set to encompass over 3,600 square meters that will provide existing and emerging high-tech entrepreneurs and start ups with a work environment that shall supports entrepreneurial activities and boosts the creativity of talented technology enthusiasts.
William Chappell, the chief financial officer at DSOA said "we continuously make all the efforts to introduce innovations that enable entrepreneurs to take their ideas to the next level, and DTEC is a positive step in that direction." He claimed that DTEC will become the largest entrepreneurship center in the Middle East and North Africa region."
DSOA has so far supported more than 200 entrepreneurs with their business plans, invested financially in four businesses, and in the process of investing in two additional companies. It is also expected to grow the portfolio of technology companies receiving financial support further during 2014.
A wholly-owned entity of the Dubai government, DSO spans 7.2 square kilometers of office towers, research and development and industrial zones and educational institutions.
Leading global brands like AMD, SAP, Fujitsu, Western Digital, Synopsys, Corning and Germany's luxury car producer Porsche run branches in the DSO, which is one of 21 industrial free zones in the Gulf Arab emirate.