in5 has entered into an agreement with Oracle to help startups in Dubai explore new growth avenues. The companies will also help startups introduce innovative services, and deliver an exceptional customer experience through driving digital transformation. In its first phase of implementation, the program will witness the participation of in5’s more than 120 active startups in Dubai.
Under this agreement, Oracle experts will host monthly meet-up sessions for in5 member entrepreneurs on key topics including the importance of emerging technology solutions like AI and Machine Learning in driving business growth, and prevailing technology trends impacting startups around the world. Furthermore, senior Oracle executives will deliver mentorship sessions for startups to help them explore the full potential of digital solutions in articulating their business idea.
The agreement was formalised during the first Oracle Entrepreneur Day event in Dubai that featured insightful sessions from Oracle experts on the impact of latest cloud solutions including AI, the Internet of Things (IoT) and Blockchain.
Speaking on the synergy, Ammar Al Malik, Executive Director, Dubai Internet City and Dubai Outsource City, said: “We are extremely pleased to facilitate this important partnership between Oracle and in5, which will enhance the local tech and startup landscape and further contribute to positioning Dubai as an innovation hub and enabler of business excellence. The importance of Oracle’s contribution to the wider business community, particularly to the local entrepreneurial community, is well validated. I am confident that by connecting our business partners with local entrepreneurs, we are facilitating innovative products and services to reach the market place.”
Abdul Rahman Al Thehaiban, Senior Vice President – Tech, Middle East and Africa at Oracle, said, “Currently 75 per cent of our 400,000 customers around the world are small-and medium sized businesses (SMBs). SMBs are at the heart of any country’s economic growth and we believe that they need access to Cloud technology at the lowest possible entry point.”
He added: “In 2017, we have established a state-of-the-art Oracle Digital Hub in Dubai to drive Cloud adoption amongst SMBs in the region. Today, more than 400 Oracle Cloud sales professionals are helping several SMBs in the UAE and the wider Middle East drive digital transformation from the Digital Hub. Our collaboration with in5 Dubai is yet another effort to help entrepreneurs in Dubai achieve unexplored growth with modern Cloud technology.”
The UAE startup ecosystem has been steadily maturing in the past few years with the greater involvement and support of the government, private corporations, investors, startup accelerators and incubators. UAE startups secured US$400 million (AED1.47 billion) of investment deals in 2017, accounting for 84 per cent of the total funding for the MENA region funding, according to statistics by MAGNiTT, a platform that tracks and reports developments in the MENA entrepreneurial space.
Launched by TECOM Group, in5 continues to provide students, startups and entrepreneurs with access to creative spaces, training and mentorship, as well as networking and investment opportunities across the tech, design and media sectors.