Over 40 Submissions Received to Date from Budding Entrepreneurs in Region.
Dubai-UAE: 19 April, 2011 – The region is in dire need of a larger base of venture capitalists with banks increasingly less inclined to lend financial assistance to SMEs and start-ups, according to Gulf-based emerging entrepreneurs.
Against this scenario, DemoCamp Dubai, an annual initiative spearheaded by Dubai Internet City (DIC), offers a crucial platform for tech entrepreneurs, students, professionals and engineers to demonstrate their innovative concepts to an audience of investors and venture capitalists.
The first event of the four part series for 2011 will witness nine Gulf-based emerging entrepreneurs demonstrating their technology-driven models and business plans on 27 April from 5.00pm-8.00pm at the American University of Dubai (AUD).
Dubai Internet City has received 40 submissions to date for evaluation. Applicants will be screened by a panel of industry experts, including the organisers and business partners of DIC. During the event, shortlisted applicants will be required to demonstrate their product and highlight its market opportunity, stage of corporate development, and identify the competitors. Demonstrations will also need to convey working software, hardware, network services and other features.
The day-long session will witness the presentation of Ziad Matar, Director, Business Development, Qualcomm. The jury panel will include Tariq Al-Asiri, General Manager at Argaam Business Info, Ronnie Mouchawar, Founder of Souq.com, and Imad Choucair, CIO TECOM Investments have shortlisted the nine demonstrations.
Majed Al Suwaidi, Director-Business Development at Dubai Internet City, said: “The increasing number of submissions is testimony to the abundance of talent and the new breed of entrepreneurs in the region. This has attracted a significant number of investors and venture capitalists to facilitate these ideas. Emerging entrepreneurs only need direction and support to grow their ideas into a successful business proposition. The informal forum provided by DemoCamp Dubai will give participants an opportunity to obtain valuable feedback from a like-minded audience comprising venture capitalists and angel investors.”
Presenters from previous DemoCamps have benefitted in terms of exposure and access to investors that may not been possible otherwise. Modelled on the DEMO conference that is being organised in the US for more than a decade, the DemoCamp Dubai events conducted by DIC have evolved into one of the most successful meeting points for young entrepreneurs.
James Oliver, Sales and Marketing Manager at ‘The Question Company’, and a participant from the last DemoCamp held in Dubai, said: “The event offers a forum to present ideas to venture capitalists as well as the local media in order to obtain finance and gain vital exposure. Events such as DemoCamp help make young entrepreneurs realize the availability of financial support, should they need to launch a new business in the region.”
At the forefront of the region’s ICT industry, Dubai Internet City remains committed to supporting emerging technology trends in the region and continues to play an instrumental role in developing the industry while contributing to Dubai’s drive for creating a knowledge-based economy.
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About Dubai Internet CityDubai Internet City (DIC), a member of TECOM Investments, was established in 2000. It is currently regarded the Middle East’s largest information and communications technology (ICT) cluster. Built as a strategic base for companies targeting emerging markets in several neighbouring regions, DIC’s core focus area extends from the Middle East to the Indian Subcontinent, and from Africa to the Commonwealth of Independent States (CIS), covering nearly three billion people with a GDP of over US$10 trillion. As a knowledge-oriented business model, DIC has created a dynamic international community of IT companies hosting business partners that include most of the Fortune 500 brands, as well as a number of small and medium enterprises and ventures. In 2009, 135 new companies joined the DIC cluster. For more information, please visit: www.dubaiinternetcity.com
For more information, please contact:
Nancy Sudheer
JIWIN Public Relations
An APCO Worldwide Company
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