The multi-faceted and all-inclusive incubator and accelerator model will focus on growing, incubating and funding talent.
Dubai-based conglomerate Al Ahli Holding Group plans to develop the world’s largest entrepreneurial and media hub to facilitate and support the growth of local and international entrepreneurs.
Nomad is a highly ambitious one million sq ft entrepreneur and media hub which will be developed close to The Echo Plex (off Al Ain Road), and which, as a global prototype, is set to radically change the entrepreneurial landscape. It will support global citizens and foster international talent with equal opportunities, providing commercial viability for their careers.
The multi-faceted and all-inclusive incubator and accelerator model will focus on growing, incubating and funding talent. As well as flexible office and working spaces, the world-class development will comprise state of the art studios and makerspaces within the media, culinary arts, arts and design, and gaming and technology arenas; with one of the largest 3D printing facilities globally.
It will also boast subsidised co-living arrangements, thereby enabling members to live economically while focusing their efforts on business growth. This has particular relevance for people who appreciate the UAE as the ideal country in which to work and live, but for whom the costs inherent in doing so, are a vital consideration.
It will enable SMEs and talented start-ups, from home and abroad, to develop and nurture their businesses supported by a business and legal framework. Operating costs will be significantly reduced, thereby attracting the international business community, and sources of innovation to the UAE. Members will also see their businesses boosted by access to Al Ahli Holding Group’s extensive network of partners and consultants, many of which are in the entertainment and media industries.
The ambitious project will make a very positive contribution to fulfilling the “Vision 2021” directive to create a competitive knowledge economy in the UAE by the year 2021, as declared by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
It also underpins the support given by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to youth empowerment and investment initiatives. It also further advances the agenda created by Al Ahli Holding Group to foster creative entrepreneurship and innovation within the UAE.
Mohammed Khammas, CEO of Al Ahli Holding Group, said: “The sheer size, scope and proposition of Nomad will put the UAE on the map as a global game changer when it comes to the type of creative, disruptive and outstanding entrepreneurship that will guarantee a bright, thriving future for generations to come.”
“Nomad will make it entirely feasible for both local people, and those from outside the UAE, with fantastic business ideas and talent, to put down roots here and see their company grow, supported by a range of practical and financial support services and advanced on-site facilities.
“Drawing on our decades of experience in establishing new ventures and realising ambitious business plans, we are delighted to be bringing to fruition a world first concept which will have a huge impact on the future economy and prosperity of the UAE. It’s a project which furthers significantly the endeavours of Vision 2021 and we are delighted to be making this very positive contribution,” he added.
The project’s infrastructure will be developed over a two year period, with the first phase launching at the end of 2018, comprising the hub of co-working and studio resources along with a pilot co-housing community. The second phase, accommodating larger facilities and community development will launch at the end of 2019.
Nikhil Shah, director at global market research and consulting firm Frost & Sullivan said: “Our studies have shown that there is nothing like Nomad anywhere in the world and it’s very rewarding to have been so involved in its concept creation.
“It will be a thriving business and living community with a true sense of collaboration and community at its heart. It will make a huge impact on the way in which businesses can flourish for the greater good of a nation and will prove a standard bearer for radical innovation and economic sustainability.”
Nomad’s Noora Khammas, chief executive architect, Al Ahli Holding Group, said: “Nomad will be a prospering collaborative community where people can see their ideas and dreams come to life. They will not only work but also live alongside other talented individuals who share a common objective.”
“The hassle and obstacles inherent in setting up a business and running it during the early years are taken away, while opportunities that would not normally be available, such as reduction in operational costs or access to specific niche markets, are automatically provided. That is a big deal because in the normal run of business, that process can take many years, hindering progress and dampening aspiration,” Khammas concluded.
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