The in5 business incubator, which specializes in empowering entrepreneurs and startups, in5, announced four new strategic partnerships with international institutions in the field of technology, with the aim of empowering entrepreneurs and emerging companies in the incubator and consolidating Dubai’s position as an attractive destination for talent and entrepreneurs.
Majid Al Suwaidi, Director General of Dubai Media City, representing the in5 business incubator, signed agreements with officials at TIE, TomTom, Glify and Parsons. Enhancing the access of the community of entrepreneurs and start-ups to funding sources, technology makers and the network of institutions that support the growth of creative businesses.
The agreements came at GITEX Global 2021 to highlight the importance of supporting the in5 business system, which recently announced a new achievement, as the total funds raised by startups within the incubator exceeded 1.4 billion dirhams obtained by companies from independent investors and venture capital funds.
TIE, TomTom and Glify are part of the global technology community in Dubai Internet City, which includes more than 24,000 professionals and entrepreneurs from around the world. The first agreement was signed with TIE, which was established in 1992 by a group of successful entrepreneurs in Silicon Valley, before launching its headquarters in Dubai in 2002 with the aim of supporting entrepreneurs by providing opportunities for education, mentorship, networking and financing.
Majed Al-Suwaidi said: “TIE is an important strategic partner, as our close cooperation over the past years has resulted in strengthening our business environment and attracting more institutions from TIE’s wide network.”
TomTom, a Dutch company that manufactures traffic and navigation products and electronic maps, has signed an agreement with the business incubator in5, through which it will provide free technology that will contribute to helping startups take advantage of navigation and positioning technologies with the possibility of expanding towards adopting more services in line with the growth of their business and their ability to Employing paid services in the future, a model known as Pay-to-growth.
Salem Beydoun, Director of Strategic Partnership Development for TomTom in the Middle East, said: “TomTom offers a wide range of solutions, including geolocation technology for drivers, car makers, organizations, developers, data such as maps, live data such as traffic, many web services and an API with relevance. Many companies – whether they are start-ups, public or private – come to us to make sure they have cutting-edge technology solutions for location and data provisioning. With this in mind, our partnership with the business incubator in5 comes to enable startups to access this technology as part of their development package.
For its part, Gilfi, an Italian-based business platform, works to enhance communication and interconnection between startups, companies and investors. Earlier this year, Gylvie Middle East invested in WorkFam, the start-up company in the in5 business, after the incubator provided it to it.
The incubator concluded its enhanced business of the system of strategic partnerships by signing an agreement with the giant Parsons Engineering and Construction Company. Embedding its solutions as part of Parsons’ larger value chain.
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