"Dubai Silicon" launches the "Sandbox" program to support start-ups in their early stages
The Dubai Silicon Oasis Authority announced the launch of the first-of-its-kind “Sandbox” program in the Middle East and North Africa region to support emerging projects in technology disciplines over a period of 12 months, and help them in their inception stages to grow and raise funds, in line with Dubai Urban Vision 2040. Launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, with regard to developing the knowledge and technology economy sector and attracting talented and innovators from around the world.
The Dubai Silicon Oasis Authority launched the program during the “Future Stars” exhibition, which is one of the largest events dedicated to emerging companies in the field of technology, and participates in it through the Dubai Technology Center for Entrepreneurship “Dtec”, the largest of its kind in the Middle East. It is wholly owned by the Dubai Silicon Oasis Authority.
The launch of the "Sandbox" program coincides with the announcement of a series of strategic "50 projects" that establish a new development cycle at the level of the UAE in all economic sectors.
The Sandbox Program, managed by the Dubai Technology Entrepreneurship Center (Dtec), aims to support start-ups in the early stages, starting from the stage of a minimum salable product to a viable early establishment stage, by taking advantage of an affiliate program open throughout the year.
Entrepreneurs registered in the Sandbox program receive an integrated practical curriculum that includes workshops, world-class mentoring, networking with investors, and practical application of the knowledge and skills acquired, to help startups grow.
The "Dtec" center within Dubai Silicon Oasis allocates a financing portfolio to be invested in financing the successful participants in the program.
Sandbox is distinguished by allocating qualitative resources to support start-ups in focusing on the health of their operations and cadres, the balance between life and work, and the improvement of human performance.
Dtec Center provides program members with the advantage of establishing start-up companies in it at reduced, subsidized and fixed costs. .
The program continues for 12 months for each company, and provides direct access to the most prominent venture capital institutions, and access to public services available from Dubai Silicon Oasis partners, with a total value of more than half a million dirhams for each company.
The program is based on six main pillars: product development, enterprise development, market monitoring, legal support, fundraising and financial diagnosis, and the health of startups' operations and staff.
It also adopts standard performance indicators to ensure that the resources of startups and the energy of their founders are not drained, and it creates a vibrant community for emerging entrepreneurs, and hosts specialized speakers and experts.
Startups under the program benefit from more than 200 hours of workshops, and more than 100 hours of specialized mentorship with experts. The emerging projects within the program also have access to an integrated package of diagnostic programs for financial efficiency and legal compliance to ensure that they remain in a strong position that qualifies them to attract investments and attract the necessary funds. The Sandbox program benefits from a vibrant community of promising entrepreneurs, the support of the Dtec Venture Capital team, and the supportive environment for the largest technology center for entrepreneurship in the region.
Dr. Mohammed Al Zarooni, Vice President and CEO of the Dubai Silicon Oasis Authority, said: “Providing an integrated investment environment and an enabling incubator for entrepreneurs and emerging projects in Dubai is an essential component of Dubai Silicon Oasis’ strategy to enhance its position as a hub for innovation and knowledge within the Dubai Urban Plan 2040. This is supported by the launch of Dubai Silicon Oasis’s strategy. The “Sandbox” program for financing emerging projects until 2025, especially in the technology and innovation sectors, in conjunction with the UAE government’s announcement of 50 strategic projects that establish a new development cycle in various economic sectors and enhance the country’s position as a destination for talent, competencies, entrepreneurs, owners of emerging projects, innovative ideas and qualitative investments. »
He added: "Dubai Silicon Oasis and its Dubai Technology Entrepreneurship Center (Dtec) have extensive experience as an incubator for entrepreneurs and emerging entrepreneurs to transform their innovative ideas into reality and enhance opportunities for financing venture capital for their companies.
The “Sandbox” program, the first of its kind in the region, with its focus on startup founders, contributes to filling the gap in initiatives to support startup projects in their inception stages, and enhances the position of Dubai and the UAE as a global destination for entrepreneurs, innovators and investors in promising emerging projects.
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