Dubai Future Accelerators (DFA) auditorium in Emirates Towers, Dubai Future Foundation’s Area 2071, which embodies the UAE Centennial 2071’s plan, signed a significant Memorandum of Understanding (MoU) with Al Ahli Holding Group to support its project NOMAD. NOMAD is the first integrated project of its kind globally with key areas of focus in entrepreneurship, media, culinary arts, arts and design, gaming and technology, providing start-ups and the creative community with a valuable roadmap of business growth infrastructure. This is part of Dubai Future Foundation’s commitment to enhance and diversify strategic partnerships with leading companies.

The MoU was signed by His Excellency Khalfan Juma Belhoul, CEO of Dubai Future Foundation, and Mohammed Khammas, CEO of Al Ahli Holding Group & NOMAD, in the presence of key witnesses.

“The MoU that was signed with Al Ahli Holding Group is an official announcement of a strategic partnership that will bring Dubai Future Foundation together with leading local and regional economic entities to support the NOMAD initiative. This partnership aims to establish a wide range of entrepreneurship systems in the UAE and the region, contributing to the achievement of the objectives of the UAE Centennial 2071, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to make the UAE the best country in the world. This partnership also supports the objectives of Area 2071 in promoting creative entrepreneurship and innovation in Dubai and the UAE as a whole,” said Belhoul.

NOMAD is being developed by Al Ahli Holding Group as a purpose-built ecosystem offering a platform of opportunities and resources for entrepreneurs and the creative community to grow their ideas and innovate. With the first phase being launched at the end of 2018 near Dubai Outlet Mall, NOMAD will operate as a membership model with benefits including access to world-class production studios, co-working and co-living spaces, events, global accelerator programmes, along with a network of mentors, investors and industry partners.

Mohammed Khammas, CEO of Al Ahli Holding Group & NOMAD commented “We are excited to partner with Dubai Future Foundation on capacity building initiatives and showcasing dynamic forms of innovation at NOMAD. This partnership demonstrates the commitment and true collaboration of government and private sector to unlock the potential of the UAE, grow talent from all over the world and be recognized as a game-changer. With NOMAD, we are breaking down barriers to entry for global companies to relocate to Dubai by creating solutions from pricing strategy to technical competencies in a highly competitive environment. Al Ahli Holding Group and Dubai Future Foundation have a shared objective of serving public interest, and this MoU provides for continued strengthening of future cooperation in reaching common goals that will increase economic development in the region by harnessing good practice.”

According to the MoU, the two parties will establish a mutually beneficial cooperation to attract global talent and scale the journey of a start-up. Both parties will consider mutual access to networks, platforms, resources and facilities as well as participate in the joint establishment and activation of programmes, workshops and business accelerators. The strategic partnership will help entrepreneurs’ access foreign markets and unlock potential talent and capabilities in the UAE and the wider region.

“The NOMAD initiative, which focuses on talent development, will contribute to the UAE Vision 2021, to create a competitive knowledge economy based on innovation and economic sustainability in the UAE by supporting the growth of local and international entrepreneurs. This partnership will place the UAE as a global hub for entrepreneurship. We are in the process of cultivating distinguished creative works that will ensure a brighter future for generations to come,” said Belhoul.

Belhoul highlighted that Area 2071 and NOMAD will create a thriving collaborative environment for startups who wish to develop their business in the UAE and see their ideas come to life. It will also support new businesses in overcoming common obstacles by offering dynamic features that are not normally available in similar work environments, such as reducing operating costs or helping them access niche markets.

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NOMAD Boilerplate:

NOMAD is being developed by Al Ahli Holding Group as a purpose-built ecosystem offering a platform of opportunities and resources for entrepreneurs and the creative community to grow their ideas and innovate. NOMAD will operate as a membership model with benefits including access to world-class production studios, co-working spaces, events and accelerator programmes on site along with a network of mentors, investors and industry partners.

Located near Dubai Outlet Mall, the comprehensive development will provide production resources and advisory services to support key sectors of entrepreneurship, media, culinary arts, arts & design and gaming and technology with a roadmap of unrivalled business and financial support infrastructure.

NOMAD’s infra-structure will be developed over a two-year period, with the first phase launching at the end of 2018, comprising the hub of co-working and studio resources along with a pilot co-housing community. The second phase, accommodating larger facilities and community development will launch at the end of 2019. The total development following build will be close to one million square feet. The sheer size and matrix of services that NOMAD will offer are unrivalled anywhere in the world, and its appeal will be on a global scale.  

The goal is to foster a collaborative environment with cost-effective solutions on offer for members to pursue their business ideas and creative endeavours. By attracting global start-ups and supporting innovation, NOMAD intends to be a leading light in the Vision 2021 initiative, cultivating both local and global talent, and ensuring that the UAE is recognized as the leader in shaping the world of the future.

www.nomaddubai.com

For Press Inquiries, Please Contact:

Fatima Hagi

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fatima@rpr.ae

© Press Release 2018

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