23, October 2021 - Dubai, UAE: Scality, the innovative start-up program launched by the Dubai Airport Freezone Authority (DAFZA), awarded three start-up licenses to the winners of the GITEX YouthX program's competition. This took place as part of its participation at GITEX Future Stars event, which is part of the 41st edition of GITEX Technology Week held at the Dubai World Trade Centre.
This step confirms the commitment of Scality and DAFZA to supporting the growth of technology start-ups at local, regional, and international levels. The program aims to help these companies establish and develop their business in the region, as well as strengthening the spirit of innovation and entrepreneurship among youths. The program's participation at GITEX Future Stars and GITEX Technology Week aimed at shedding light on the flexible methodology the program provides to establish businesses, which was developed specifically for tech companies to help them grow.
Hassan Waheed, Senior Investment Advisor at DAFZA and Chairman of Scality, said: “Our participation at GITEX Future Stars as part of GITEX Technology Week reflects the keenness of Scality program to present its portfolio of offers, perks, and services at the largest technology gathering of its kind in the region. Our participation aims to attracting entrepreneurs and tech companies who seek to set up businesses in the emirate of Dubai and contribute to innovation, technology, science, and its digital economy. Scality aims to support GITEX YouthX competition by offering free licenses for start-ups who presented innovative and creative concepts during their participation.”
DAFZA launched Scality program in early 2021, and this program offers start-ups the opportunity to set up and operate their businesses with flexibility and convenience through a commercially effective way. It also provides a subscription-based program that covers lease and licensing fees, as well as space that start-ups require for their operations. Scality enables start-ups to pay per employee per month through a pay as you grow model, which enables them to scale their teams flexibly and efficiently. The program also allows start-ups to benefit from services offered by world-class partners, as well as access to DAFZA's network of over 1,800 multinational companies including SMEs.
Scality aims to facilitate access to the MENA region by creating more opportunities for start-ups on their entrepreneurship journey, particularly at this time when the MENA region is witnessing significant growth in the technology sector including developments in fintech, e-commerce, health tech, deep technology industries, and smart cities solutions, among others. For example, e-commerce sales in Dubai are projected to jump 23% to reach USD 27 billion in 2022, driven by the COVID-led digital shift and changing consumer demands.