UAE/TURKISH BUSINESS RELATIONS

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Dr. Nilgün Birgören Premium Member Group moderator
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UAE to spend Dh80m to boost ICT industry

The United Arab Emirates will spend Dh80 million this year in education and start-up funding to bolster information and communications technology (ICT) in the country.

Senior officials with the ICT Fund — an initiative set up in 2005 by the Telecommunications Regulatory Authority (TRA) — confirmed the financial support for the domestic tech industry at a workshop in Dubai yesterday held to show professionals how to access assistance programmes.

Dr Eisa Bastaki, CEO of the ICT Fund, said Dh22 million will be spent on research and development this year while a further Dh58 million will be spent on 100 domestic scholarships and another 100 scholarships abroad. Bastaki said the "main idea behind it is to fund and create an ICT ecosystem in the country…through incubation and start-ups."

By nurturing the ICT sector at formative levels, Bastaki said that "ideas from research [and scholarships] could become products for start-ups." While only 3.3 per cent of global internet users hail from the Middle East, Bastaki said there will never be a better time for the UAE to support its fledgling industries seeking entry into world ICT markets.

"If you look at the future, ICT is the driving force of economies of the world," Bastaki said, noting that estimates for the global industry for 2010 are pegged at $1.5 trillion (Dh5.5 trillion). They're expecting growth to go to nearly $3 trillion in five years alone," he said at the workshop.

The UAE's ICT industry ranks second in the region behind Saudi Arabia.

According to ICT Fund, the UAE telecommunications market will earn $13.6 billion in 2011, up from $8.2 billion earned in 2005 for an annual growth rate of about 20 per cent.

Fund officials are concentrating their efforts in the UAE on broadband technology (4G), satellite communications, wireless technology, security and encryption and sensor area networks.

Dr Abdul Qader Al Khayat, chairman of ICT Fund, told professors, government officials and multinational executives at the workshop that the push to incubate a growth industry is more than just about money.

"We do not want the role of the fund to be limited to providing funds, we want it to be a catalyst for innovation and creative ideas for our youth in universities, and to contribute in making older generations, parents and other social categories the driving force of .... innovation and creativity," Al Khayat said.

He said investing in education, research and start-ups will boost the sector in the UAE and help promote the country's position in the industry.

According to figures released yesterday by the ICT Fund, the "total amount of investment expected in the sector in GCC countries is $180 billion between 2010-2013."

Dubai: Groupon United Arab Emirates http://www.groupon.ae a shopping website that offers a daily deal on the best local goods, services and cultural events, expands its local presence with the launch of Groupon Sharjah on Sunday.

"As UAE's third largest city and a centre of culture and industry, Sharjah is an ideal market for the Groupon model," said Faisal Haq, CEO of Groupon UAE. "We look forward to offering local residents unbeatable deals on the best that Sharjah has to offer, while driving new customers to area merchants." Using the principles of collective buying, Groupon negotiates unprecedented discounts with popular businesses. Groupon subscribers get free daily emails alerting them to the deals. By guaranteeing a large number of new customers, Groupon has created a powerful new marketing vehicle for local merchants.

This innovative approach to e-commerce has brought millions of dollars in new revenue to local businesses while saving more than $2 billion (Dh7.34 billion) for subscribers worldwide.

"Buyers and sellers are connected in a fun and collaborative way with Groupon," said Haq. "We drive direct sales to local businesses and offer consumers deep discounts they can't get anywhere else."

Upcoming Sharjah features will include spa packages, local restaurants and leisure activities.

Source:GulfNews
- 19 Jun 2011, 6:37 pm
Dr. Nilgün Birgören wrote: > The United Arab Emirates will spend Dh80 million this year in > education and start-up funding to bolster information and > communications technology (ICT) in the country. > > Senior officials with the ICT Fund — an initiative set up in 2005 by > the Telecommunications Regulatory Authority (TRA) — confirmed the > financial support for the domestic tech industry at a workshop in > Dubai yesterday held to show professionals how to access assistance > programmes. > > Dr Eisa Bastaki, CEO of the ICT Fund, said Dh22 million will be spent > on research and development this year while a further Dh58 million > will be spent on 100 domestic scholarships and another 100 > scholarships abroad. Bastaki said the "main idea behind it is to fund > and create an ICT ecosystem in the country…through incubation and > start-ups." > > By nurturing the ICT sector at formative levels, Bastaki said that > "ideas from research [and scholarships] could become products for > start-ups." While only 3.3 per cent of global internet users hail > from the Middle East, Bastaki said there will never be a better time > for the UAE to support its fledgling industries seeking entry into > world ICT markets. > > "If you look at the future, ICT is the driving force of economies of > the world," Bastaki said, noting that estimates for the global > industry for 2010 are pegged at $1.5 trillion (Dh5.5 trillion). > They're expecting growth to go to nearly $3 trillion in five years > alone," he said at the workshop. > > The UAE's ICT industry ranks second in the region behind Saudi > Arabia. > > According to ICT Fund, the UAE telecommunications market will earn > $13.6 billion in 2011, up from $8.2 billion earned in 2005 for an > annual growth rate of about 20 per cent. > > Fund officials are concentrating their efforts in the UAE on > broadband technology (4G), satellite communications, wireless > technology, security and encryption and sensor area networks. > > Dr Abdul Qader Al Khayat, chairman of ICT Fund, told professors, > government officials and multinational executives at the workshop > that the push to incubate a growth industry is more than just about > money. > > "We do not want the role of the fund to be limited to providing > funds, we want it to be a catalyst for innovation and creative ideas > for our youth in universities, and to contribute in making older > generations, parents and other social categories the driving force of > .... innovation and creativity," Al Khayat said. > > He said investing in education, research and start-ups will boost the > sector in the UAE and help promote the country's position in the > industry. > > According to figures released yesterday by the ICT Fund, the "total > amount of investment expected in the sector in GCC countries is $180 > billion between 2010-2013." > > Dubai: Groupon United Arab Emirates http://www.groupon.ae a > shopping website that offers a daily deal on the best local goods, > services and cultural events, expands its local presence with the > launch of Groupon Sharjah on Sunday. > > "As UAE's third largest city and a centre of culture and industry, > Sharjah is an ideal market for the Groupon model," said Faisal Haq, > CEO of Groupon UAE. "We look forward to offering local residents > unbeatable deals on the best that Sharjah has to offer, while driving > new customers to area merchants." Using the principles of collective > buying, Groupon negotiates unprecedented discounts with popular > businesses. Groupon subscribers get free daily emails alerting them > to the deals. By guaranteeing a large number of new customers, > Groupon has created a powerful new marketing vehicle for local > merchants. > > This innovative approach to e-commerce has brought millions of > dollars in new revenue to local businesses while saving more than $2 > billion (Dh7.34 billion) for subscribers worldwide. > > "Buyers and sellers are connected in a fun and collaborative way with > Groupon," said Haq. "We drive direct sales to local businesses and > offer consumers deep discounts they can't get anywhere else." > > Upcoming Sharjah features will include spa packages, local > restaurants and leisure activities. > > > > Source:GulfNews

UAE/TURKISH BUSINESS RELATIONS

UAE to spend Dh80m to boost ICT industry