Dubai Silicon Oasis Authority unveils Incubation Centre

Dubai, April 11, 2012 (WAM) - Dubai Silicon Oasis (DSO), the integrated free zone technology park, yesterday announced the launch of Silicon Oasis Founders (SOF), a technology incubation centre wholly owned by Dubai Silicon Oasis Authority (DSOA). SOF has been set up with a strategic commercial ambition and long-term vision to position itself as a leading incubator that supports high potential technology ventures in the seed phase. SOF focuses on fostering local entrepreneurial talent in the information technology, internet, ecommerce technology and mobile. The centre's expertise will help emerging entrepreneurs refine their business proposals, execute plans and accelerate growth. SOF will guide and assist new businesses through providing services such as business set-up support, workspace facilities, networking opportunities with other IT professionals, VCs and business consultancy as well as financial, technical and marketing mentorship. Hans Christensen, Director of Silicon Oasis Founders at Dubai Silicon Oasis Authority, said: "The incubation centre has been set up in response to market indicators that businesses which have been through an incubator programme are far more likely to succeed in the long term. We believe that our holistic incubation approach is especially well suited to achieve this and is needed by the market. SOF aims to support Dubai Silicon Oasis-based ventures in the seed phase that prefer co-investment from regional investors for business models in the mobile e-commerce, apps or internet technology space. The centre will additionally offer support to technologies that need short incubation time from 3 to 12 months, and low investment or to support existing business models in the market; which posses the potential for further growth. As part of the selection criteria, new ventures should be scalable with a capacity to generate a minimum turnover of Dh20 million. Entrepreneurs with an existing business looking to boost performance or even seeking partial or complete funding are welcome to contact SOF on bizplan@dso.ae A wholly-owned entity of Dubai Government, Dubai Silicon Oasis operates as a free zone technology park for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional headquarters and R'&'D facilities in the Middle East and Africa region. - Emirates News Agency, WAM