Dubai creates an incubation hub for media industry

Those who can turn an innovative idea into commercial viability will find a base at in5 Media

25 November 2015

It’s a good time for someone with a bright idea related to the media industry to be in Dubai. The Tecom Group will commission a cluster offering a full range of support and mentoring services for these ideas to germinate and become genuine commercial possibilities.

The incubation cluster, branded in5 Media, is located at International Media Production Zone and is due for commissioning “before next summer” according to a top official. The vetting process of suitable candidates with the bright ideas will start in Q1-2016.

Once they take their place, they will be given a five-month window to find the ways and means to turn the concept into viability. Small and mid-size enterprises and even those involved in a “graduation project and who want to take it further are eligible,” the official added.

Around 200 to 250 individuals and their ideas could be part of the intake programme. Apart from access to an office space, they can call on the industry-specific needs such as editing and programming through the in5 Media initiative. There will also be mentoring services available.

“There will be the whole range of services but with the notable exception of direct equity,” said Malek Al Malek, CEO Tecom Business Parks. “Even then, if the venture promoters are in need of funds, we can put them in touch with a network of investors. What in5 Media wants to be is the bridge connecting an idea into a business reality.

“It could also be that some of the future partners will use in5 Media to scale up an existing operation. Our sole criterion is that this should be in the media-related space.”

Investments on the project are to be Dh60 million. Fit-outs will start in the second quarter 2016.

“For tenants, they are straight away looking at a 10-15 per cent cost savings compared to anywhere else in the city,” said Malek. “And that’s including the access they will have to a full set of support operations such as the editing suite. It’s not just on the rentals that they will make a saving.

“It will be a combination of existing partners as well as ourselves who will do the service provisioning.”

On the five-month cut-off period that future tenants have to bring their projects to market, Malek said: “I think that’s a good enough time frame to get things done.”

For Tecom, this is the second such incubation platform it has rolled off the drawing board. In 2013, it launched the in5 at Dubai Internet City, which since then has engaged with more 20,000 people. “That was strictly for technology services — currently Tecom is exposed to six industries and if need be more incubation/innovation clusters could be created.”

Tecom has got another winner in its Dubai Design District (d3), a mixed-used community meant for those in the creative and high fashion industry. The take-up rates among businesses for the initial phases have been well above what the rest of the commercial areas in the city have been experiencing of late.

Incubation is serious business for Tecom

The new venture, in5 Media, are for those with ideas with a fair crack at commercial success. They can use a dedicated building created for this purpose at IMPZ, which is located near Dubai Investments Park.

“As Dubai’s media community continues to grow, with Dubai Media City, Dubai Studio City and IMPZ providing a home to over 2,000 companies, a workforce of 25,000 and over 5,000 media students, in5 Media will drive the development of the emirate’s media industry and of a sustainable media talent pool,” said Malek Al Malek, CEO at Tecom Business Parks.

— M.N.