Page 221 - MOE ENGLISH PR REPORT - AUGUST 2024

will further solidify the UAE’s position as a premier global hub for entrepreneurship and
pioneering ventures.”
in5: Incubator for creativity and growth

During her visit to the in5 business incubator, Her Excellency met with Abdulla Khalifa Belhoul.
The in5 team provided HE Alia Al Mazrouei with a detailed presentation on TECOM Group's role
since its inception in 1999 as a key hub for fostering startups. The presentation highlighted in5's
significant achievements, including the support of four business incubators and centers that
cater to entrepreneurs across various sectors. Noteworthy figures discussed included over 490
active startups within the system, from which three local billion-dollar companies have emerged
in recent years.

During the meeting, both sides underscored the importance of nurturing startups in emerging
sectors like financial technology and the critical role of supportive legislation in enabling them to
grow, as well as the need to create a “flexible regulatory environment” to support these
companies, in addition to strengthening ties with universities with a focus on research and
development. They also agreed on the need to unify efforts and form a joint working team
between the Ministry of Economy and TECOM to advance initiatives that bolster the
entrepreneurship ecosystem.

‘Masdar City’: A Hub of Innovation and Technology

During her visit to the free zone in Masdar City, Her Excellency met with Ahmed Baqhoum, CEO
of Masdar City. The Masdar team provided an overview of the city’s recent achievements,
emphasising advancements in emerging technologies. They outlined Masdar’s focus on six key
sectors: space, energy, life sciences, agricultural technologies, AI, and mobility.

Her Excellency gained insights into both current and future plans designed to support start-ups
and SMEs. She learned about the diverse range of options and co-working spaces available for
establishing businesses and various activities. The visit underscored how entrepreneurs can
take advantage of the opportunities and resources available in the area, which is considered an
ideal hub for innovation, technology, and emerging businesses. The zone is home to both local
and international companies, along with leading global organisations across a variety of vital
sectors.

The discussion also highlighted the challenges faced by entrepreneurs, including the struggle to
secure funding and obtaining specialised equipment needed to develop innovative technologies.
Both parties emphasised the necessity of enhancing collaboration to create a joint programme
that supports the adoption of emerging technologies and develops tools to help establish
forward-looking companies.

‘Khalifa Innovation Center’: An incubator for Deep Technology

During her visit to the Khalifa Innovation Centre, part of Khalifa University of Science and
Technology, Her Excellency met with HE Prof. Ebrahim Al Hajri, President of the University. The
Centre's team highlighted their key initiatives to support entrepreneurs and outlined their
strategic objectives. Notably, the Khalifa Innovation Centre is the country's first incubator
dedicated to ‘Deep Tech,’ offering startups a comprehensive network to facilitate market access.
The Centre also arranges promotional tours to other universities and hosts networking sessions
where entrepreneurs can share ideas about the business landscape. Furthermore, the Centre

https://www.adsmehub.ae/.