Funding and support increase for Gulf startups
Hot on the heels of Google's announcement that it is to set up a US$100m capital fund for startups in the consumer internet, software, clean technology, healthcare and biotech sectors, the climate for startups in the Middle East seems to be unaffected by the economic storm.
The good news continues in
Finally, another source of help for startups has been announced. The Mohammed Bin Rashid Al Maktoum Foundation (MBRF) has signed a memorandum of understanding with Microsoft Gulf to become a BizSpark network partner. The BizSpark programme provides technology startups with discounted Microsoft software and support. In order to qualify, businesses must be privately held, earn less than US$1 million per year and have been operational for less than three years.