Intel Capital, Intel’s investment arm, joined Dubai Silicon Oasis (DSO) by announcing its investment in Sphere Networks, an emerging Dubai-based startup specialising in next generation network management software. This move marks Intel’s first investment in a company based in the Gulf region.
The investment should help Sphere to expand both its technology base, get access to Intel technologies and develop sales and marketing to deliver its products to market. The amount of the investment was not disclosed.
The startup employs a team of 26 people, from different backgrounds, in Dubai; developing enterprise level network management solutions, which are already in use with a number of government customers in the region.
The investment, announced today by Christian Morales, Intel VP Sales & Marketing and General Manager, Europe Middle East and Africa, is part of Intel’s drive to expand its economic, educational and technology-related support across the UAE.
Under this program, Intel continues to increase its investment in four key areas: local entrepreneurship, education, digital accessibility and specialized technical competencies, to help promote technology skills, knowledge transfer and jobs creation in the UAE.
Commenting on the announcement, Morales underlined the importance of fostering innovative, home-grown ideas and noted that today’s news illustrates Intel’s ongoing commitment to collaborate with local players that share the vision of taking entrepreneurial projects to the next level of global competitiveness.