Visa and Tecom Group have signed a Memorandum of Understanding (MoU) to embolden and nurture innovation, entrepreneurship and digital advancements.
The MoU between the two organizations is expected to comprise a number of collaborative elements including an agreement to support the local startup and entrepreneur community through mentorship and guidance program, leveraging each other’s network for the promotion of digitally advanced and innovation related solutions.
Also, collaborating on the pilot program, tests and trials will be carried out within the Tecom Group and it involves co-launching design thinking workshops , supporting local hackathons and developer workshops.
According to the Vice President of Innovation and Strategic Partnerships and Head of the Dubai Innovation Centre, Mr. John McGuire,“Visa is a technology company and we are constantly evolving to provide immersive, collaborative and localized experiences for our clients and partners in CEMEA,” noting that, “sitting at the virtual crossroads of tech and finance, Dubai is the ideal place to bring this collaborative approach to life for the diverse needs of this region.”
Also speaking, the CEO of Tecom, Malek Al Malek, said: “We are very proud to partner with Visa to further foster and support innovation in the region. This is a major strategic pillar for Tecom Group, which has played a vital role in Dubai’s diversification and is now supporting efforts to transform the Emirate into an innovation-led economy and Smart City.
“As part of Tecom Group’s innovation strategy, we have led major innovation initiatives, including a strategic partnership with Smart Dubai, the launch of the 5 Incubation arm in 2013 to support the growth of entrepreneurs and startups across our different verticals thus enforcing a solid entrepreneurial ecosystem in the region.
“Also, the launch of the Innovation Hub, will see over 15,000 business professionals prosper to stimulate innovation and excellence across technology, new media, education and life sciences. Visa’s decision to launch its innovation centre in DIC is a testament to our partnership as well as the sector development across the UAE and our leading position in the region
“We look forward to working closely with Visa to take the industry into further heights in innovation and creativity,”he noted.
