Dubai Silicon Oasis Reports Profits Increasing 134% Launches an Incubator
Dubai Silicon Oasis (DSO) free zone technology park established in 2004 in Dubai for the semiconductor, microelectronic and other high technology-based companies looking to set up their regional headquarters and R’&’D facilities in the Middle East and Africa region.
The free zone said that it has recorded an increase in its profit by 134% net profits to Dh131 million last year and its current asset base increased to Dh7.5 billion.
DSO earned Dh308.6 million in operating revenue in 2011. The integrated technology park generated Dh719 million in revenues for 2011, up 5.1 per cent from 2010, according to GulfNews.
Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Silicon Oasis Authority (DSOA), said that the free zone witnessed 43 per cent rise in company registrations, taking the total number of entities operating at the technology park to 531.
DSO-based companies operate in various industries including software research and development as well as chip design and development for consumer goods, education and the service sectors. In addition, a range of companies work in the chemical products, semiconductors and solar energy space, and also offer communications and security solutions for sectors such as oil and gas, power, utilities, telecom operators, transport and fiber optics. “
Dubai Silicon Oasis Authority recently launched the Silicon Oasis Founders (SOF), a technology incubation center wholly owned by the authority. SOF aims to support Dubai Silicon Oasis-based ventures in the seed phase that prefer co-investment from regional investors for business models in the mobile e-commerce, apps or Internet technology space.
The center will additionally offer support to technologies that need short incubation time from 3 to 12 months, and low investment or to support existing business models in the market; which posses the potential for further growth. As part of the selection criteria, new ventures should be scalable with a capacity to generate a minimum turnover of AED20 million.
Entrepreneurs with an existing business looking to boost performance or even seeking partial or complete funding are welcome to contact SOF on email@example.com