01/10/2013
International Data Corporation (IDC), the premier global provider of market intelligence and advisory services for the ICT sector, announced today the commencement of a strategic consulting project with the UAE ICT Fund to develop long-term plans for the growth and expansion of the country's information and communications technology (ICT) sector. This large-scale study will analyze the current state of the UAE's ICT sector, assess its future growth potential and trends, examine the potential adoption of global best practices, and identify the role of the UAE ICT Fund in driving the market's development.
ICT spending in the UAE increased 4.5% year on year in 2012, and IDC forecasts another 6.3% increase for 2013, so the outlook is certainly positive. National policymakers in several progressive and emerging economies of the Middle East and Africa, including the UAE, are increasingly focusing on building local knowledge industries in order to diversify their economies, create gainful and high paying jobs for citizens, and develop a sustainable stream of exports. Part of the endeavor is to create local intellectual property, and technology-related industries such as those based on software applications development or hardware devices offer such opportunities.
Commenting on the announcement, Jyoti Lalchandani, group vice president and regional managing director at IDC Middle East, Africa, and Turkey, expressed his belief that the partnership exploits the natural synergies that exist between the two companies. "We are delighted to be teaming up with the UAE ICT Fund for this prestigious project," he said. "Our global reach and local expertise, combined with our proven capabilities in analyzing the region's ICT markets and supporting the development of national ICT strategies across the Middle East, make IDC ideally suited to conduct this project. The vast experience of our dedicated project teams has enabled us to successfully carry out similar projects around the globe, and we are looking forward to demonstrating further success this time round with the UAE ICT Fund."
Against this backdrop, policymakers and industry-development bodies are focusing on fostering a culture of technology research and innovation, and furthermore, are supporting the commercialization of viable concepts and ideas and ensuring the availability of funding for interesting startups and entrepreneurial ventures. In some cases, government agencies are also handholding and promoting local technology companies as they try to enter new export markets. Ensuring the availability of the superior skills that are needed to not only sustain innovation but also provide the workforce for these developing industries is a critical success factor, and government agencies are developing several programs to develop a rich pool of skilled resources over the long term.
“ICT Fund will continue to advance, empower and transform every aspect of our lives. Our partnership with IDC is a clear example of our commitment to fostering the development of a knowledge economy in the UAE.” said Omar Mohammed Al Mahmoud, Acting CEO of ICT Fund. “The project is essential to the nation’s ICT sector as it helps define the milestones that enable us to increasingly invest in innovative ideas that contribute to the intellectual growth of the UAE, as well as promoting the involvement of UAE nationals in this sector.”
“We have just started the first phase of developing the study that comes in alignment with our mission and role in driving the development of the market and empowering innovation through education, research and development, and entrepreneurship”, he added.
The key objectives of this project will involve defining the long- and short-term goals for the country's ICT sector in line with UAE Vision 2021. The project will examine key focus areas such as government ICT initiatives, research and development, intellectual property creation, and ICT funding, incubation, and entrepreneurship. It will also place a spotlight on the availability of ICT skills in the UAE, as well as on academic collaboration and emerging global ICT trends.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For more than 49 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com
IDC in the Middle East, Africa, and Turkey
For the Middle East, Africa, and Turkey region, IDC retains a coordinated network of offices in Riyadh, Casablanca, Nairobi, Lagos, Johannesburg, and Istanbul, with a regional center in Dubai. Our coverage couples local insight with an international perspective to provide a comprehensive understanding of markets in these dynamic regions. Our market intelligence services are unparalleled in depth, consistency, scope, and accuracy. IDC Middle East, Africa, and Turkey currently fields over 125 analysts, consultants, and conference associates across the region.
About ICT Fund
The ICT Fund is an initiative of the Telecommunications Regulatory Authority that aims to spur the creation of a significant ICT industry in the UAE. To achieve this, ICT Fund provides targeted funding and support services to individuals, academic institutions and companies, and empowers them to develop the innovation and knowledge capital of the UAE ICT sector through education, applied and basic research, and entrepreneurship. The ICT Fund strives to promote a culture of entrepreneurship in the UAE ICT sector and to develop linkages between industry and academia. Additionally, it promotes the involvement of UAE nationals in the realm of scientific and technology research in order to foster technology creation and development in the UAE. The ICT Fund is driven by a strong vision to reinforce ICT as a leading sector in the United Arab Emirates' economy. The ICT Fund believes that a global leadership position for the UAE ICT sector can be attained by investing in innovative ideas that contribute to the intellectual growth of the sector, yielding measurable results.
For more information, please visit ICT Fund website: www.ictfund.gov.ae
Contact for Media
Anulekha Shetty
Tel: +971 4 391 2741
Email: ashetty@idc.com
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