Dubai Science Park has signed a preliminary agreement with Silicon Valley venture firm 1792 Partners, aiming to connect people creating new health technologies in the UAE and the US, and to attract American health-tech companies to Dubai.
“1792 Partners has decades of experience in setting up and scaling companies from inception all the way to the IPO/acquisition stage," said Reza Kazemipour, founder and chief executive of 1792 Partners. "We are excited to represent Dubai Science Park in the US, and introduce healthcare, science and pharma companies to the benefits of operating in the Middle East.”
The agreement was signed during a business mission to California led by Dubai Investment Development Agency (Dubai FDI) and Dubai Exports aimed at strengthening trade relations between the UAE and the US, and raise awareness about the benefits of doing business in Dubai among foreign companies in sectors such as technology, advanced manufacturing, aerospace, fast-moving consumer goods (FMCG), life sciences and logistics.
The UAE has been the US’ largest trade partner in Mena for the past decade.
“Through bringing the expertise and capabilities of innovation-driven and overseas companies to the UAE, we aspire to boost the growth of key sectors of the national economy," Marwan Abdulaziz Janahi, managing director of Dubai Science Park and a chairing member of the Dubai Industrial Strategy 2030, said.
Dubai Science Park was set up in 2015 to support science businesses, professionals and entrepreneurs as well as international companies seeking to expand in the GCC region. The free zone has 350 business partners for scientific research, R&D, manufacturing and prototyping.
“This is a unique collaboration as there are no other initiatives that bring together customers, partners and investors from the US and the UAE under one umbrella,” Mr Kazemipour said.