by Signing Agreement with Canadian Society for Entrepreneurship and Innovation
Move aims to strengthen knowledge exchange in entrepreneurship, innovation between UAE, Canada
Dubai-UAE: 19 December, 2020 – Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, today signed a memorandum of understanding (MoU) with Canadian Society for Entrepreneurship and Innovation (CSEI). The partnership focuses on providing startups and SMEs from the UAE and Canada with the opportunity to expand their businesses internationally.
Ghanim Al Falasi, Senior Vice President of People Happiness and Innovation at DSOA, and Nasim Seifi, CEO of CSEI and Founder of Global Ignite Innovation Hub in Dubai signed the agreement virtually in the presence of senior representatives of the two entities.
According to the MoU, DSOA, the largest technology hub in the Middle East and North Africa (MENA) region, aims to support graduates of the Entrepreneurship Leadership Program (ELP) by Ignite Innovation Hub in setting up businesses in the UAE within Dubai Technology Entrepreneur Campus (Dtec), DSOA’s wholly owned technology coworking space and the largest of its kindly in the MENA region. DSOA is also assisting CSEI with the logistical and promotional aspects of bringing its International Talent to Talent conference 2021 to Dubai.
Meanwhile, CSEI, via its Ignite Innovation Hub, seeks to enable Dtec-based startups that are interested in entering the Canadian market to enroll in ELP that will equip them with the business skills needed to translate innovative ideas into globally competitive products. CSEI also plans to introduce promising Dtec startups to its network of Canadian angel investors.
Furthermore, the two entities will join forces in organizing conferences and events, in addition to exchanging market- and industry-relevant knowledge and expertise.
Speaking on the agreement, Ghanim Al Falasi said: “Since its inception, DSOA has actively promoted the culture of entrepreneurship and innovation in Dubai and the wider UAE. In line with the innovation pillar of the DSOA 2021 Strategy, the hi-tech park serves as an open platform for conducting business and a proof of concept for test runs of smart city solutions. We are continuously exploring opportunities for forging strategic partnerships with leading technology companies as well as like-minded entities across the globe. CSEI is a Canadian equivalent of DSOA in terms of its initiatives, such as Global Ignite Innovation Hub and ELP, and we look forward to a mutually beneficial collaboration.”
For her part, Nasim Seifi said: “CSEI’s primary objectives are to motivate, encourage, nurture and advance innovative solutions and technologies within Canada. We are facing significant global challenges, and we need everyone to contribute to find solutions. ELP is proposing the development of a new global entrepreneurship model. Through this agreement with DSOA, we hope to gain valuable insight to further drive the culture of entrepreneurship and innovation in Canada while sharing our learnings to benefit the UAE’s entrepreneurial landscape.”
For his part, Professor Rafik Loutfy, Director of ELP, said: “The Entrepreneurship Leadership Program educates entrepreneurial participants on how to successfully start their business in Canada through developing a deep understanding of the North American customer base. The knowledge and skills gained from the program will help them confidently face tough business scenarios involving significant risks – both business and professional.”
According to the UAE’s Ministry of Economy, commercial trade between the UAE and Canada reached AED7.8 billion in 2018. In 2019, the UAE was Canada’s top trading partner in the MENA region. The two countries enjoy a deep-rooted relationship based on their shared interest in building prosperity, strengthening regional and global security, advancing women’s empowerment, and contributing to socio-economic development across the globe.