(MENAFN- Khaleej Times) The Dubai Silicon Oasis Authority, or DSOA, on Saturday declared Dh504.7 million revenues for 2014 and reported a 28 per cent year-on-year growth in companies operating in the technology park last year.
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Shaikh Ahmed bin Saeed Al Maktoum, Chairman of the DSOA, said: "DSO's success comes as a result of the prestigious services that keep pace with latest technology trends in the world. Since the launch of Dubai Silicon Oasis in 2004, we have witnessed significant turnout by companies, entrepreneurs, investors and residents. Office building occupancy has reached 98 per cent, while occupancy of light industrial units is at 96 per cent. DSO has also completed more than 20 new projects in 2014, resulting in an increase of 331,000 sqm in office and residential space, 17 per cent more than what was delivered in 2013."
Companies operating at DSO have increased from 893 to 1,151 registering a 28 per cent increase compared to 2013. Nearly 63 per cent of these entities are from the IT industry while the remaining 37 per cent have interests in the commercial and diversified service sectors.
The current breakdown of organisations by country represented in DSO is as follows: 38 per cent of the companies are European, Asian enterprises comprise 16 per cent and American firms account for eight per cent. Canadian organisations cover two per cent of the businesses at DSO, whereas Australia comprises one per cent and 35 per cent represent Mena-based enterprises.
"DSO has developed a growth strategy until 2021. This strategy includes components that will help shape DSO's future trajectory, in line with the emirate's vision to become a smart, innovative city that encourages innovation and creativity and supports young technology minds to convert their ideas into successful tech-businesses," added Shaikh Ahmed, who is also President of the Dubai Civil Aviation Authority, Chairman of Emirates airline and Chief Executive of the Emirates Group.
Dr Mohammed Alzarooni, vice-chairman and chief executive officer of the DSOA, highlighted the success stories achieved through Silicon Oasis Founders, or SOF, DSO's business incubator. Launched in April 2012 with the aim of supporting and encouraging local entrepreneurs in the IT industry, SOF has supported more than 250 entrepreneurs to date with their business plans, invested financially in five businesses, and is currently investing in three additional companies.
Complementing SOF, DSO launched the Dubai Technology Entrepreneurship Centre, or DTEC, the largest entrepreneurship centre in this region. Spread over 39,000 sqft, the DTEC is set for launch in 2015.
Dr Alzarooni said: "SOF and the DTEC will play a significant role in defining new investment opportunities in the technology sector within the Arab region. They represent two main pillars of DSO's plans towards achieving a fully integrated environment built on the foundation of a hi-tech ecosystem and the technology sector. Taking these to the forefront, the core of creating an advanced technological society will be achieved and DSO will be able to quickly adapt to rapid developments in the technology industry."
In order to achieve the desired results, DSO has initiated a number of researches to draw an accurate picture of the main challenges facing entrepreneurs, emerging technology companies and small and medium enterprises in the Mena region.
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