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Dubai's free zones dedicated to the information and communication technology (ICT) sector are reaping the benefits of the rapid growth in this sector.
A total of 181 new companies registered themselves at two of the technological hubs – Dubai Internet City (DIC) and Dubai Outsource Zone (DOZ). The graph is expected to continue its upward climb as expenditure in information and communication technology in the UAE is slated for an annual growth of 5 per cent.
DIC and DOZ house around 1,600 companies mainly operating in the ICT sector.
As part of its initiative to bolster start-ups in ICT, DIC launched In5. It is a business support system for start-ups where these companies get a platform to launch their ideas and reach out to venture capitalists and angel investors.
Other business zones in Dubai are also riding on the growth of the ICT sector to make healthy gains.
The Jebel Ali Free Zone Authority (JAFZA) has logged healthy returns from the electronics and IT sectors. The free zone has seen 43 per cent growth in the number of companies in the electronics and IT sectors in the last five years, growing from 846 in 2009 to around 1,250 currently.
The Dubai Multi Commodities Centre (DMCC), which is the licensing authority of Jumeirah Lakes Towers (JLT), is set to unveil a new technological hub. This will be an educational center for entrepreneurs of start-up companies looking to make inroads in the domestic market and the neighboring countries. Spread over 6,500 square feet, the center will be located in JLT and is expected to start operation by early next year. A dedicated mobile device development lab to help start-ups build mobile applications for smart phones will be also built.
• The electronics and IT sectors are performing well in JAFZA
• Internet City and Outsource Zone witness impressive growth
• DMCC will launch a new tech hub for start-up entrepreneurs
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Source: S. Dhar, Special to Properties
The writer is a freelancer