Made in UAE Sold Globally

Dr. Eesa Mohammed Bastaki

CEO, ICT Fund

April 27, 2011

The ICT Fund

The ICT (Information & Communication Technology) Fund, an

initiative of TRA, is the first of its kind in the Middle East. The
target goals of the Fund are to develop the ICT industry,
encourage R&D, support incubators, foster start-ups, and
enhance education in the field of ICT.

© Copyright ICT Fund 2011

What are we trying to achieve for the UAE ICT
sector ?

Intellectual Capital

Incubating Smart Research Technology

Innovative Ideas Leadership

Nurturing Start-ups

© Copyright ICT Fund 2011

We have great ambitions for innovation

“The greatest danger for most of us is not that our aim is too high and we
miss it, but that it is too low and we reach it”

“Wealth flows directly from innovation… not optimization… wealth is not

gained by perfecting the known”

"Never underestimate the value of an idea. Every positive idea has within it
potential for success if it is managed properly”

© Copyright ICT Fund 2011

We are launching our operations to jump start
innovation within the UAE ICT sector

The ICT Fund was set up by the Supreme Committee as a step towards
implementation of Article 70 of the Executive Order

The Fund receives its financing from the UAE’s telecom operators

The Fund has just started operations, and is inviting proposals for funding

© Copyright ICT Fund 2011

Our Vision …
“Achieve a global leadership position for
the UAE ICT sector by fostering and
developing innovation and creativity”

© Copyright ICT Fund 2011

Our Mission …

“Provide funding and advisory services to

companies, organizations and individuals that can
strengthen the innovation and knowledge capital
level of the UAE ICT sector with their research,
education and entrepreneurial activities”

© Copyright ICT Fund 2007

Our Board of Trustees comprises figures from industry and
academia committed to this vision and mission

Chairman H.E.Dr. Khalifa Hareb

H.E. Mr. Majed Almesmar
H.E. Dr. Abdulqader Al
Khayyat

H.E. Dr Mohamed Al-Mualla H.E. Dr Mohamed Alahbabi

H.E. Dr. Mohamed Alkous

H.E. Dr. Sabri Al-Azazi

Mubadala Development Company General Manager, Etisalat

© Copyright ICT Fund 2011

Previous ICT Fund Board of Trustees

Chairman H.E. Mohamed Nasser Al

Ghanim H.E. Farid Faraidooni
H.E. Ahmed Hameed Al
Mazroui

Director, Abu Dhabi National Exhibition Executive Vice President - Corporate

Director General of the TRA Affairs, DU
Company (ADNEC)

H.E. Dr Abdullah Al- H.E. Dr Arif Sultan Al-

H.E. Abdulrahman Jarrar Khanbashi Hammadi

Regional Manager for Govt. Affairs, Intel Deputy Director of Etisalat College of
Middle East UAE University Vice Chancellor Engineering

H.E. Jassem Mohammed

H.E. Dr. Tayeb A. Kamali Obaid Al Za'abi H.E. Nasser A. Salim

Vice Chancellor, UAE Higher Colleges of General Manager, Etisalat

Technology Mubadala Development Company

© Copyright ICT Fund 2011

We are committed to financing and nurturing projects
related to Research, Education and Entrepreneurship

Researc Educatio Entrepreneurshi

h n p
Research Projects Scholarships Incubators
R&D Centres Educational Institutions

© Copyright ICT Fund 2007

We will fund organizations and individuals
undertaking projects that will develop the UAE ICT
sector
Projects we will fund

Who can apply for Research R&D Business Educational Higher

funding Projects Centres Incubators Institutions Education
Universities
Research
Institutes
Companies

Individual
Researchers

Entrepreneurs

Students

© Copyright ICT Fund 2007

We provide comprehensive resources and support
to meet unique needs of each project and drive its
success

Fundin Advisor Network

g
nGrants
y
nBusiness Advisory
s
nAccess to Industry

nEquity nTechnical Advisory nAccess to Technical Experts

nScholarships nCommercialization Support nAccess to Investors

© Copyright ICT Fund 2007

 We are driven by a passion for nurturing innovation
and entrepreneurship

What drives us?

BRAVE NEW IDEAS - that promote innovation and entrepreneursh

What is our approach?

PROACTIVE - we work closely with and provide mentoring to applicants

How do we take
TRANSPARENCY - our processes are audited and reviewed regularly
decisions?

How can we help

you? ACCESS - to panels of technical and business experts and networks

© Copyright ICT Fund 2007

Our small, cohesive team and lean operating
procedures allow us to serve you efficiently
Assessmen Funding
t Decision
Step

Step
-Help with proposals -Terms and conditions are

II
I

agreed upon
-Assessment based on
technical and commercial -Milestones are set for
merit disbursement of funding

Nurturin Monitorin
g g

Step
Step

-Advice from technical and -Monitoring of projects

IV

III
business experts
-Support for resolution of
-Building of partnerships project issues
with industry and
academia

© Copyright ICT Fund 2007

We are keen on funding research…

Research - What we would expect from

you
nPlans to develop research project or centre

nTechnically and commercially sound business plan

nStrong execution team

nSignificant UAE participation

nResources available and committed

© Copyright ICT Fund 2007

…business incubators that host ICT start-ups…

Incubator - What we would expect from

you
nPlans to start a business incubator for ICT start-up companies

nTechnically and commercially sound business plan

nStrong execution team

nMajority UAE ownership

nResources available and committed

© Copyright ICT Fund 2007

…and educational institutions that will benefit the
ICT sector

Educational Institution - What we would expect from

you
nPlans to set up an educational institution

nOfficial accreditation and strong partners

nRelevant curriculum, experienced faculty and good facilities

nMajority UAE ownership

nResources available and committed

© Copyright ICT Fund 2007

We will provide financing and advisory support to
ensure that your project succeeds

What you can expect from

us
nFinancing through grants or equity

nFunding for up to 5 years

nGuidance from technical and business experts

nAccess to partners and investors

© Copyright ICT Fund 2007

The details of funding research projects …
Research – Funding Details
Research Projects R&D Centres

Basic Research Applied R&D Basic Research Applied R&D

Type of Funding Grant Grant or Passive Equity Stake

Maximum Term of Funding 3 Years 2 Years 5 Years

50% of budgeted expenses for Companies

Maximum Share of Funding
75% of budgeted expenses for Universities and Research Institutes

Technical expertise for research guidance

Advisory and Support Business expertise for commercializing research and operations

Access to potential technology and business partners and investors

© Copyright ICT Fund 2007

The details of funding incubators …
Incubator – Funding Details

Type of Funding Grant or Passive Equity Stake

Maximum Term 5 Years

of Funding

Maximum Share 60%

of Funding

Expertise for guidance in technology issues

Business expertise for addressing business issues
Advisory and Support Access to academia and industry for sourcing talent

Access to potential technology and business partners and finance

© Copyright ICT Fund 2007

The details of funding educational institutions …
Educational Institutions – Funding Details

Type of Funding Grant or Passive Equity Stake

Maximum Term 5 Years

of Funding
50% of Budgeted Expenses for Companies
Maximum Share
of Funding
75% of Budgeted Expenses for Universities, Research Institutes

Access to academia and industry for partnerships

Advisory and Support Access to industry and academia for placing graduates
Access to incubators for entrepreneur graduates

© Copyright ICT Fund 2007

We are also committed to financing higher
technical education…

Scholarships - What we would expect from

you
nAdmission to a technical course at a university approved by us

nRecord of excellent academic performance

nCommitment to a career in the UAE for 5 years after graduation

nUAE nationality

© Copyright ICT Fund 2007

…and encourage you to apply to us for
scholarships

Scholarships - What you can expect from

us
nFunding for tuition fees and living expenses

nAccess to incubators for starting a business after graduation

© Copyright ICT Fund 2007

IF YOUR AMBITION MATCHES OUR INTEREST…
COME TALK TO US!

The ICT Fund

P. O. Box 112333,
Abu Dhabi, UAE
Tel: +971 2 621 2222
Tel: +971 2 621 2227

www.ictfund.ae

© Copyright ICT Fund 2007

THANK YOU
Dr. Eesa Bastaki
CEO – ICT Fund

eesa.bastaki@ictfund.ae

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