Event Draws more than 200 attendees Looking for Promising Technology to Spur Innovation and Positive Returns

The entrepreneurial spirit continues to be dynamic in the GCC region, according to Majed Al Suwaidi, Director of Commercial Operations at Dubai Internet City, one of the largest managed ICT clusters and a member of TECOM Investments.

Al Suwaidi’s remarks came as part of his address at the Dubai Internet City DemoCamp event in Dubai, which concluded recently. The event that aimed to spark and open up creative communities for tech entrepreneurs, start ups, venture capitalists, students, marketers, professionals and engineers, attracted over 200 visitors - many of them were potential investors looking for opportunities in promising technology companies that could help spur innovation while generating positive financial returns. The event also aimed to encourage more enthusiastic demonstrators for the upcoming DemoCamp sessions.

The six carefully selected technopreneur projects included: Hyzonia, a web platform for creating, customizing and publishing games online with the capacity to send ads to games directly. It was then followed by FURNISHMarketplace, a site which serves the procurement needs of interior designers, hospitality professionals and real estate developers in their quest to contract quality furniture and equipment. Next was ShopMidEast, who presented a project, set to be the largest and most comprehensive eRetailer in the Middle East. With intuitive payment methods, the website is designed to deliver a localized experience for every country in the region.

Another demonstration was InTheLoop, a professional social network site that focuses on the MENA region. Launched just five months ago, the site already has 6,000 professionals. Intheloop aims to launch Arabic and French versions of the website in the next coming few months. 

The demonstrations were concluded with Mysalbum, an online space that allows users to create a URL. Each image uploaded has the capacity to specify the number of views, type of users depending on geographical location and timing. Positioned to be a smart way to present photos to different targets, the website provides an easy to handle high performance solution. Lastly was Yebab.com, a unique online wedding directory in Arabic that caters to the UAE. The service covers the complete range of business for vendors, products and services, set to revolutionize the wedding planning industry.
In his address, Al Suwaidi highlighted the need to inspire entrepreneurs in the region for the technology industry to facilitate online growth particularly, Arabic content and develop the latest technological solutions for advancing communication platforms.

Al Suwaidi said: “We witnessed a trend in large multinationals entering the Middle East market through local acquisitions. As the leading technology business park in the region, Dubai Internet City will continue to spearhead successful venture capital forums to help entrepreneurs present their innovative ideas and solutions to potential investors looking for emerging technology trends. DemoCamp Dubai is an accessible event that brings visitors and investors together for knowledge sharing, fun and experience. I look forward to seeing more talented technology companies grow and be recognized in this region.”

Feroz Sanaulla, Executive Director of Intel Capital, a key speaker at the event delivered an inspirational note on “The Glimmer of Greatness” where he offered tips on what venture capitalists look for in promising entrepreneurs.

He said: “An attractive business model needs to have scalability. The entrepreneur has to ‘think big’ so he or she can grow beyond the local context and have the potential to become a global company. A strong team with strong management skills is also essential. So long as an entrepreneur has set visions, goals, a passion with good corporate governance, a venture capitalist is likely to take you more seriously.”

Shihab Khalil, Managing Director for ShopMidEast.com said: “DemoCamp allowed me to target a crowd who can help spot market opportunities and refine my business model. While I predict explosive growth for my eRetail project in the next coming months, the event has opened doors for me to meet potential investors looking for new partnerships.”

DemoCamp Dubai is part of Dubai Internet City’s ongoing efforts to drive innovation and entrepreneurship in the region. A large number of start-ups and SMBs are currently part of the FirstSteps@DIC business centre, an initiative that aims to allow new companies to test the market before committing to establishing a larger foothold 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.

Free business and soft skills e-course were also offered to the attendees during the event, courtesy of Knowledge Horizon. Two more DemoCamps are scheduled in 2010. For more information and updates, please contact opportunities@dubaiinternetcity.com