More than 30 global investors visit region’s flagship science hub to explore investment deals in biotechnology, pharmaceutical, meditech, healthcare
A more than 30-strong delegation of senior business leaders and investors have visited Dubai Science Park, a science and healthcare-focused business community, to discuss innovation, business opportunities and collaboration in the UAE’s world-class medical sector.
Under the glistening headquarters designed by architecture studio HDR and flanked by a world-class, environmentally-friendly laboratory complex, an elite group of international investors and corporate executives received an update on investment opportunities following years of strong healthcare spending in Dubai and the UAE.
Marwan Abdulaziz Janahi, Managing Director of Dubai Science Park, said: “These challenging months have refocused the greatest minds on the importance of scientific, medical and pharmaceutical innovation. It has catalysed a greater focus around collaboration, fostering an entrepreneurial spirit and providing a platform for talent to thrive. We were delighted to welcome such a distinguished delegation of high-ranking officials to our community, which is aligned with the UAE’s vision for a sustainable, knowledge-based economy, to explore investment opportunities.”
Healthcare expenditure in Dubai increased by 12% per annum between 2012 and 2017, according to public data from the Dubai Health Authority, and there remains plenty of opportunities for investment and growth in the sector moving forwards.
Key areas include centres of excellence in certain specialities such as the treatment of diabetes and cardiovascular diseases, home-based care and rehabilitation services. There are also opportunities to build sustainable public-private partnership models in Dubai, as well as areas of growth for digital healthcare companies as remote patient monitoring and care delivered through telehealth platforms becomes more common.
Among the senior figures in attendance were Dr Ibtesam Al Bastaki, Director of Investment and Public-Private Partnerships at Dubai Health Authority; Dr Ashraf Allam, Regional Vice President, Middle East, Africa & Turkey at Mundipharma; Majid Kaddoumi, President Central & Eastern Europe, Middle East & Africa of Medtronic; and Ashraf Radwan, CEO of the Healthcare Sector Yas Holding.
Established in 2005, Dubai Science Park is home to more than 350 companies, 3,600 professionals and organisations such as Pfizer, Thermo Fisher Scientific, Bio-Rad and Bayer. Designed with state-of-the-art infrastructure and services to improve ease of doing business, it has become a supportive and enabling ecosystem for entrepreneurs, startups and multinational corporations engaged in various scientific verticals.
About Dubai Science Park
Founded in 2005, Dubai Science Park (DSP) is a vibrant, holistic community dedicated to supporting entrepreneurs, SMEs and MNEs active in the sciences, energy and environmental sectors. With its ample office and laboratory space and robust infrastructure, DSP has created an enabling science-focused ecosystem that is home to more than 350 companies, employing over 3,700 professionals.
Through fostering growth, creativity, research and innovation in the areas of human science, plant science, material science, environmental science and energy science, DSP aims to play a significant role in facilitating a more sustainable and self-sufficient future that maximises the use of indigenous resources and talent.