Dubai Future Foundation looks to $100-million fund for 3D printing

Software giant Autodesk is offering the cash to entrepreneurs, start-ups and businesses aiming to make a mark in the 3D printing space

3D printing

Dubai Future Foundation, the emirate’s very own innovative body, has partnered with US multinational software corporation Autodesk to provide financing for entrepreneurs, business and start-ups and more, with an aim to make a mark on the 3D printing business in the UAE.  

Autodesk, along with its $100-million (Dh367-million) Spark Investment fund, has signed an agreement that puts the Dubai Future Foundation in charge of finding suitable investment channels for the fund in the region.

This move is in tandem with emirate’s aim to become the 3D printing hub of the world by 2030, an announcement made in April.

The businesses that work with or are considering working with 3D printing in their operations will be considered by the foundation while Autodesk will be in charge of seeing how well innovation in the region is keeping up with the company’s plans for its Spark fund.

The agreement, signed by Saif Al Aleeli, CEO of Dubai Future Foundation, and Amar Hanspal, Senior Vice-President of Products at Autodesk, also allows entrepreneurs and businesses with innovative ideas in the 3D printing sector access to Spark’s marketing and software development capabilities.
Mohammed Al Gergawi, Vice-Chairman and Managing Director of Dubai Future Foundation, says 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 the emirate and country into an international hub for the sector but also drive the growth of the global 3D printing industry, set to be worth $300 billion by 2030.
“3D printing technology will revolutionise the economic sectors that most affect people’s lives,” Al Gergawi says. “This includes construction, medical equipment and supplies and even consumer products. [The] technology has taken centrestage in the global market, drawing attention from all major tech companies and R&D centres around the world, as they work to expedite its introduction into traditional markets, in addition to establishing exciting new markets.”