Dubai: Young entrepreneurs in the 3D printing sector can now enjoy much needed support as Dubai Future Foundation (DFF) joins hands with US software corporation Autodesk to build a platform for a $100 million (Dh367 million) investment fund.
The two organisations recently signed a memorandum of understanding that will see DFF in charge of identifying suitable investment channels for Autodesk’s $100 million Spark investment fund within the region.
The investments will benefit businesses relying on 3D printing in their operations in an effort to develop this technology, catalyse innovation within the sector, and incubate and accelerate 3D-printing start-ups in the region.
Autodesk will be in charge of evaluating innovation in the regional 3D printing sector to map out a clear strategy for its Spark fund.
The agreement also allows entrepreneurs and businesses with innovative ideas in the 3D printing sector access to Spark’s marketing and software development capabilities.
Moreover, the MoU aims to speed up the establishment of a regional 3D printing market, whereby 3D-printed products will cater to the demands of sectors such as manufacturing, construction, medical and consumer products, etc.
Mohammad Al Gergawi, Minister of Cabinet Affairs and the Future and vice-chairman and managing director of Dubai Future Foundation, said that the Dubai 3D Printing Strategy launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice- President and Prime Minister of the UAE and Ruler of Dubai, will not only turn Dubai and the UAE into an international hub for the sector but will also drive the growth of the global 3D-printing market, set to be worth $300 billion (Dh1.1 billion) by 2030.
“3D printing technology will revolutionise the economic sectors that most affect people’s lives,” Al Gergawi said.
Outlining some of the key sectors impacted by the technology, such as construction, medical equipment and supplies as well as consumer products, he said: “3D printing technology has taken centre stage in the global market, drawing attention from all major tech companies and research and development centres around the world as they work to accelerate its introduction into traditional markets, in addition to establishing exciting new markets.”
