New initiative is the world’s first free zone dedicated to biotechnology
DuBiotech to become center of excellence in biotechnology for the region
His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister today announced the Dubai Biotechnology and Research Park (DuBiotech ), the world’s first free zone dedicated to the biotechnology industry.
Established as a free zone under the Dubai Technology and Media Free Zone Authority, DuBiotech will create a comprehensive infrastructure and environment to catalyse biotech industry development in the region. The park will be built in several phases on a 300 hectare area located close to the Dubailand project.
The park development will cover over 30 million square feet of built-up area. Its infrastructure offering will comprise of custom-made research and development (R&D) facilities - such as labs, clean rooms and incubators, office space and residential facilities. The first development of DuBiotech will be ready by early 2006.
“Our aim is to accelerate the region’s biotechnology industry,” said Ahmad Bin Byat, Director General of the Dubai Technology and Media Free Zone. “The new park will create the conditions for encouraging scientific research and production synergy in the biotech industry.”
“DuBiotech is also part of Dubai’s next growth horizon and its long-term plan of creating a strong diversified knowledge-based economy,” he added.
The park will undertake two main initiatives – an industry cluster and the Foundation for Research and Innovation (FRI). As part of developing a cluster, DuBiotech seeks to attract a synergistic mix of biotechnology and pharmaceutical companies active in discovery, R&D, testing, production, storage, sales and distribution. It will also attract companies offering business support services for this industry such as legal and venture capital (VC) firms specializing in the biotech industry, educational institutions focused on biotech, device producers and equipment and consumables suppliers.
The Foundation for Research and Innovation (FRI) will be a specialised organisation focusing on government-funded research and development in select fields like medical genetics, plant biotechnology encompassing food and agriculture, environmental and equine-related biotechnology, drug discovery, pharmaceutical research, stem cell research, infectious diseases and forensic research. Incubation facilities within the Foundation will help innovative new projects develop into productive and profitable ventures. Business development assistance offered by the Foundation will allow start-ups to concentrate on their core competencies.
DuBiotech will be headed by Dr. Abdulqader Al Khayat who recently left his position as Director General of Dubai Police’s General Department of Forensic Administration, to take over as Executive Director of the new initiative. Dr. Al Khayat brings with him over 20 years of experience in the fields of genetics and forensics.
“We are confident that DuBiotech will become the center of excellence for biotechnology in the Region”, said Dr. Al Khayat. “We will achieve this by creating the right business and regulatory environment, developing state-of-the-art scientific facilities, securing Government funding, and maintaining an unwavering focus on developing R&D within the region”.
Support Environment
The park will have a regulatory framework, modelled on international best-practices. The key focus of the regulations will be on upholding the highest ethical, environmental, health and safety standards. DuBiotech will also develop comprehensive guidelines to ensure this.
To encourage new ventures, DuBiotech will have a specialised funding arm that will provide financial assistance to research initiatives, incubators and joint projects. An investment committee will be set up to make funding decisions after conducting due diligence on business plans.
Members of the park can avail of a host of support facilities and services. Areas have been set aside for companies who wish to construct their own buildings. Dedicated production, warehousing and distribution areas will be created. Clean rooms, vivariums and specialised equipment will be available. Other common facilities will include a library, video-conferencing, and auditorium, theatre, meeting rooms, restaurants, retail banking and mailroom. Also planned for the future are botanical gardens and a museum.
The park will also provide all the benefits enjoyed by companies in the Dubai Technology and Media Free Zone. These include 100 % exemption on corporate and personal tax guaranteed by the Dubai Government for 50 years, 100 % ownership of their business, 100% repatriation of capital and profits, no currency restrictions, a one-stop-shop of support services, simplified incorporation and a fast-track visa service.
Long-term Focus
DuBiotech will provide a rich environment for networking and collaboration within the industry. To establish and promote links with the global biotech community, DuBiotech will build affiliations and partnerships and pursue collaboration with renowned universities, specialised medical institutions, international NGOs and other leading biotechnology parks and clusters.
“DuBiotech seeks to provide a long-term view for the region by providing not just for the next generation but the generations that will follow it,” said Dr. Alkhayat. “The initiative is more than an economic venture and will have a strong social focus,” he added.
The park will work closely with academic institutions in the UAE and elsewhere in the GCC region to develop programmes that will enhance biotechnology knowledge and bring its benefits to our society, economy and environment. DuBiotech will also make efforts to engage the local community so that biotechnology advances can make a positive impact on our quality of life.
Source : www.dubiotech.com
