Gitex updates: Collaborating for growth
Zain Group completes 100 percent acquisition of NXN to form ZainTech
Zain Group has completed 100 percent acquisition of NXN to become part of ZainTechin accordance with the strategic investment and agreement that was entered into by Zain Group and NXN’s co-founders in 2016.
ZainTech unifies Zain Group’s ICT assets to offer comprehensive digital solutions and transformation services under one roof. It provides a center of excellence and managed solutions for Cloud, Cybersecurity, Big Data, IoT, Ai, Smart Cities and Emerging Technologies incorporating NXN and Zain Data Park. Moreover, ZainTech will leverage Zain Group’s unique footprint and global reach, offering a single point of contact for sales and customer care for multinational corporations.
Founded in Dubai in 2007, NXN has made a name for itself as a pioneer in providing digital services and solutions. Drawing together expertise from across the information technology, communications and service provider industries, the company focused on using data analytics, artificial intelligence (AI) and other cutting-edge technologies to create and deploy advanced digital services. The strategy quickly established NXN as a valuable partner to help government, industry and smart city operators to identify the strategies, digital solutions and services they need to meet the challenges of digital transformation.
Hub71 and AWS accelerate startup growth on the cloud
Hub71 is collaborating with Amazon Web Services (AWS) to provide tech startups with the support to build scalable and secure cloud-based services that accelerate their growth. The collaboration offers Hub71 startups access to AWS Activate, a program that provides tools and resources to help startups innovate and scale faster. Through AWS, startups can experiment frequently and optimize business performance, while reducing technology costs. Hub71 startups will benefit from AWS Activate credits worth up to US$100,000 for each, in addition to AWS Support credits. They will also have access to technical support and architectural guidance from AWS Cloud support engineers, as well as technical and business success training by AWS experts.
AWS recently announced it will open data centres in the UAE in the first half of 2022, as part of the Abu Dhabi Investment Office’s efforts to attract investments that build technology capabilities in the emirate. The new collaboration with Hub71 comes as an extension to the collaboration between AWS and ADIO across Abu Dhabi’s knowledge economy on various ecosystem and education initiatives, training, and startup enablement programmes.
DIFC and Start-Up Nation Central to promote innovation-based business ties
Dubai International Financial Centre (DIFC) and Tel Aviv-based not-for-profit organisation, Start-Up Nation Central, have signed an agreement aimed to establishing new bridges between the UAE and Israel and pledged to work together on promoting commercial agreements to benefit both countries, particularly in the fields of FinTech and digital security.
As part of the DIFC Innovation Hub, the Centre offers the region’s most comprehensive FinTech and venture capital environments, including innovative accelerator programmes at FinTech Hive, providing start-ups a bridge to UAE, regional and global markets. Over 60 per cent of all FinTech and innovation firms in the GCC are based in DIFC. Israel is a globally recognised leader in innovative FinTech solutions home to more than 530 start-ups that apply advanced technologies such as data science, biometrics, blockchain, and cyber to disrupt the traditional banking, finance and insurance sectors. As part of the agreement, the parties committed to facilitating introductions and mutual referrals of companies that are interested in scaling their operations in each other’s jurisdictions. This includes programmes such as regulatory sandboxes and accelerators to help innovative solutions’ providers with market access.
