Google GOOG Stock News: Google Set to Sponsor Tech Hub in Dubai

Technology Stocks News 15

Dubai-based entrepreneurship platform AstroLabs has announced that it has launched a new tech hub in partnership with digital giant Google (NASDAQ GOOG) in Dubai. The tech hub is called AstroLabs Dubai. Astro Labs Dubai will be situated in Dubai Multi Commodities Centre Free Zone, is scheduled to open in Y 2015, and will help tech entrepreneurs from across the globe access high growth markets.

The new hub will feature an advanced mobile device development lab, co-designed by Google for Entrepreneurs, to enable startups to build apps for the highest smartphone penetration markets globally, the statement said. The 6,500 sqf facility will feature a large training space, a café, and will be set on a promenade.

AstroLabs founding partner, Muhammed Mekki, added: “We aim to put Dubai on the global entrepreneurial map as the best base for high-growth startups to access emerging markets and to play a direct role in fostering more successful tech entrepreneurship within the MENA region.”

Google Inc (NASDAQ GOOG) News:Dubai based Tech Hub

The AstroLabs Dubai is the only Google-partnered center in the MENA (Middle East and North Africa) and will offer subsidised and fast track company licensing for start-ups. “The AstroLabs founders are experienced entrepreneurs who know how to accelerate the growth of early stage companies. We see enormous potential for them to help startups across MENA take their ideas to the global stage,” said the senior manager at Google for Entrepreneurs.

AstroLabs has already built a significant network of start-ups in the MENA region. In 2013, AstroLabs’ ‘Scaling Online Startups’ acceleration program trained the founders of over 100 startups in cities across the UAE, Saudi Arabia, Egypt, Jordan, and Lebanon. Alumni of the program have raised over $20-M in funding and created hundreds of jobs in the tech sector across the region to date.

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Google Inc Financial News (NASDAQ GOOG)

High smartphone penetration rates and a growing e-Commerce sector have made Dubai a incubator for tech start-ups, leading to a growth in the number of start-up accelerators in the emirate. In line with that growth, free zone developers in Dubai have also began dedicating areas for early stage companies. Earlier this year, Free Zone manager Dubai Silicon Oasis Authority (DSOA) announced plans to set up the Dubai Technology Entrepreneurship Centre (DTEC).

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