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Mohammed bin Rashid innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance to support nationwide innovation, has partnered with the Dubai Silicon Oasis (DSO) free zone and its tech hub and coworking space Dubai Technology Entrepreneur Campus (Dtec) to support emerging technology startups in the UAE.
MBRIF
Under the partnership, members of the MBRIF Innovation Accelerator program will be granted discounted lease rates, license and processing fee waivers for the first year of operation, flexible terms for visa processing, and access to all business activities in DSO.
Fatima Al Naqbi, Chief Innovation Officer at Ministry of Finance and MBRIF representative, said that the goal of the partnership was to empower innovation in the UAE by providing entrepreneurs and startups with the ideal space, resources, and opportunities for growth.
“At MBRIF, our aim is to support innovative businesses to grow and make a positive economic and social impact on the communities in the UAE through strategic partnerships and collaborations with public and private entities,” Al Naqbi said. “Since our members have continuously exceeded expectations and repeatedly demonstrated the power of entrepreneurship in transforming lives, industries, and economies, our partnership with Dtec will provide our members with a stimulating environment where they can network and collaborate with entrepreneurs from around the world and find potential investors to scale-up their operations and continue their growth.”
Ghanim Al Falasi, Senior Vice President of Technology and Entrepreneurship at DSO, explains that Dubai Silicon Oasis, as a hub for innovation and knowledge in the Dubai Urban Master Plan 2040, has been committed to enhancing Dubai’s status as a global capital of technology and digitalization, supporting local talents and competencies, and enabling owners of innovative and promising ideas. “This valuable cooperation between DSO and MBRIF extends the advanced capabilities of Dtec, the largest center of its kind for technology and co-working spaces in the Middle East, to entrepreneurs and innovators in the technology sectors. This solidifies Dubai’s status as a preferred destination to establish and grow businesses,” he added.
