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South Korea’s NIPA launches Korea IT Cooperation Centre UAE at Dubai Internet City to nurture globally impactful innovation

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  • Korea IT Cooperation Centre UAE, NIPA’s first hub in the Middle East, launched on sidelines of GITEX Global to nurture connections between Korean entrepreneurs and regional innovators
  • Spanning more than 6,500 sq.ft., the centre at the region’s leading tech hub will unlock the goals of Dubai Economic Agenda ‘D33’ and the UAE-Korea CEPA deal

DUBAI, UAE, Oct. 17, 2024 /PRNewswire/ — The National IT Industry Promotion Agency (NIPA), backed by the Government of South Korea, has announced the launch of its Korea IT Cooperation Centre UAE (KICC UAE) regional office at Dubai Internet City on the sidelines of GITEX Global 2024, held at Dubai World Trade Centre on 14-18 October.

Reaffirming Dubai’s proposition as a globally vital business gateway, KICC UAE’s launch builds on the South Korean agency’s memorandum of understanding (MoU) agreed during the 2023 edition of GITEX Global with Dubai Internet City, the region’s leading technology hub. The launch in Dubai marks NIPA’s first centre in the Middle East and represents the sixth hub in its global network, which covers Silicon Valley, Singapore, India, Hanoi, and Ho Chi Minh City.

The regional office at Dubai Internet City, one of TECOM Group PJSC’s 10 sector-specific business districts in Dubai and the Knowledge Partner of GITEX Global 2024, will foster collaborative entrepreneurship and talent development initiatives by connecting Korean tech businesses and investors with regional innovators, inventors, and investors.

KICC UAE will assist Korean technology companies seeking expansion into the Middle East by establishing strategic relationships with key government entities and industry partners. The inauguration at Dubai Internet City was attended by Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT; Abdulla Belhoul, CEO of TECOM Group PJSC; and Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City in the presence of senior officials and industry partners.

Commenting on the inauguration, Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT said: “The establishment of the first KICC centre in the Middle East, here in Dubai, UAE holds significant meaning. It stands as a concrete and impactful milestone in the digital sector, following the reaffirmation of bilateral cooperation during President Yoon Suk-yeol’s state visit to the UAE in January.”

Sung-Wook Hur, President of NIPA, said: “The launch of KICC UAE at Dubai Internet City marks a significant milestone in our commitment to fostering a thriving global innovation ecosystem. It will connect Korean entrepreneurs and enterprises with their UAE counterparts and leverage Dubai’s strategic location and thriving business environment. Our Dubai Internet City address will be a hub for innovators to collaborate on groundbreaking solutions with the potential to not only benefit the UAE and South Korea, but also make a lasting impact on the global stage.”

“Securing the global future will irrefutably require collaborative innovation given the pace of the tech industry’s evolution, and NIPA’s centre at Dubai Internet City is a window into a future shaped by such cooperation,” said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. “KICC UAE underscores our district’s pivotal role as a platform for enterprises and entrepreneurs, ensuring talent development through new opportunities, partnerships, and markets. We welcome partners like KICC UAE in our endeavour to create a lasting impact through tech innovation and contribute to the global knowledge economy, as envisioned by the Dubai Economic Agenda ‘D33’.” 

Spanning 6,535 sq.ft., the facility features seven private offices, 18 co-working spaces and meeting rooms, and a dedicated showroom to host around 100 employees and visitors, with a calendar of four key events planned during 2025. Seven resident companies, including Wrtn Technologies, DeepNoid, CoreMovement, Genians, Mobiltech, Weeds Korea, and Angelswing will be established at the KICC UAE, in addition to Esol Information & Communications and PineC&I, which will use the hub’s shared office spaces.

These companies are set to begin efforts to expand into the Middle Eastern market with KICC UAE, which will provide industry data and insights to facilitate the participation of Korean technology companies and professionals in the region through Dubai Internet City’s ecosystem.

Dubai Internet City’s cooperation with KICC UAE strengthens bilateral ties between the UAE and Korea, which in May 2024 signed a Comprehensive Economic Partnership Agreement (CEPA) to nurture constructive economic cooperation between both countries, building on their non-oil bilateral trade of AED 19.4 billion in 2023. The UAE-Korea CEPA contributes to the UAE’s vision to double its non-oil foreign trade to AED 4 trillion by 2031.

Dubai Internet City has led region’s digital transformation strategy for more than two decades, serving as a platform for more than 3,500 customers, including Fortune 500s and SMEs such as Google, 3M, Microsoft, and Careem, in addition to 29,000 of the world’s brightest tech professionals.

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Dubai Internet City is part of TECOM Group’s portfolio of sector-specific business districts, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, Dubai Outsource City, and Dubai Design District (d3).

About TECOM Group PJSC 

TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub. 

The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses, and land – to over 11,000 customers and more than 124,000 professionals. 

TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience. 

TECOM Group also provides industry specialised facilities, including media production studios, laboratories, and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “Go Freelance” package serves freelance talents.

Photo – https://mma.prnewswire.com/media/2533449/TECOM_Group.jpg

 

 

 

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Ireland to host the 28th TCI Global Conference

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CHIHUAHUA, Mexico, Oct. 17, 2024 /PRNewswire/ — With the conclusion of the 27th TCI Network Global Conference, held in Chihuahua, northern Mexico, Ireland has received the baton to host the global cluster meeting in 2025. 
During the handover ceremony to Ireland, John Hobbs, of Munster Technological University, Ireland, expressed his excitement for the upcoming global cluster conference, referring to the groups of companies that share objectives and resources.
“We are very excited to host the next conference in Ireland. Clusters have proven to be a key instrument in transforming our economies, and in 2025 we hope to further strengthen the alliances we have built here in Chihuahua,” said Hobbs, who is also a member of TCI Network.
Hobbs highlighted Chihuahua as a model for cluster organization to spur economic development across various industries and as a platform for sharing best practices.
“What we saw in Chihuahua is a clear example of how clusters can catalyze change. This conference has been an extraordinary platform for sharing good practices, and we look forward to continuing the dialogue,” he said.
Departing TCI Network President Merete Daniel Nielsen also stressed the opportunities for development and the discussion of critical future topics, such as global collaboration, artificial intelligence, and the reshoring of supply chains, or nearshoring, among others.
She also praised the northern Mexican state of Chihuahua for its organization and the synergies achieved between the private and public sectors.
“I don’t know where to start or end because they’ve truly been a strong example of what clusters can accomplish. Without the collaboration of institutions and cluster managers, the level and quality of what we’ve seen here would not have been possible. Chihuahua is a best-practice case we can all be proud of,” she said.
Nielsen reflected on her experience as head of TCI Network, noting that her departure as president highlights the potential these initiatives hold for economic and industrial development.
“This is my final handover, as I’ve been president of TCI Network for six years. I will carry this place in my heart because to me, it is a testament to the power of clusters and the transition they represent,” she remarked.
“For the first time in TCI, we now have two countries collaborating on organizing the next conference. We are very eager to welcome everyone to Ireland.”, she finally stressed.

View original content:https://www.prnewswire.co.uk/news-releases/ireland-to-host-the-28th-tci-global-conference-302279202.html

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BSV Blockchain launches W3C Community Group to leverage blockchain technology to enhance Internet standards

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ZUG, Switzerland, Oct. 17, 2024 /PRNewswire/ — BSV Blockchain has announced the launch of the World Wide Web Consortium (W3C) Blockchain2 Community Group, an initiative dedicated to exploring the integration of blockchain technology into Internet standards for web applications. The chairs of this group are the BSV Blockchain representatives Ty Everett, Brayden Langley, Darren Kellenschwiller, Thomas Giacomo and Jake Jones

The new group will assume responsibility for the topic of blockchain technology within the consortium and aims to enhance security, privacy, and efficiency within the web ecosystem through blockchain innovation.

The W3C’s role in web development

The W3C is a consortium of international organisations, companies and stakeholders whose mission is ‘to develop open standards for an interoperable web to meet requirements for accessibility, internationalisation, privacy, and security.’

The consortium is organised principally in more than 100 working and interest groups. One of these groups is the newly founded Blockchain2 Community Group. It is named so due to the fact that it is the second group within the consortium tasked with working on blockchain. The previous group has been inactive since 2017.

The BSV Blockchain’s vision of a new Web 3.0 iteration of the Internet focused on users’ privacy, transparency and data integrity aligns with W3C’s vision of having the Web designed for the ‘good of its users’ as well as ‘safe for its users’ and that there is only ‘one interoperable world-wide Web’.

Similarly, the BSV blockchain is built on the conviction that user security (and the associated regulatory compliance) as well as the interoperability of web applications and solutions are key for creating innovation on the web.

Role of the group in W3C

The group will initially only work internally and develop goals, definitions and requirements that make blockchain useful for the World Wide Web community. In the words of the group:

“Our first deliverable will comprise a list of value-adds and benefits that blockchain technology may be able to provide for the World Wide Web community. Subsequently, based on our findings, we aim to agree on a set of general, high-level requirements and capabilities that blockchain-based application architectures would need to fulfil in order to deliver value.”

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In a second step, the group will then collaborate with other W3C groups to gain further input and insights and plan the way forward:

“Finally, we aim to explore the potential impacts of these architectures on the privacy, resiliency, incentives, and accessibility of the web, and to establish relationships with other groups to ensure alignment as these solutions are developed.”

Call for participation

The Blockchain2 Community Group invites web developers, blockchain enthusiasts, and technologists to join the effort. W3C Membership is not required for participation, making the group accessible to anyone with a W3C account. Participants will collaborate through a variety of tools including mailing lists, IRC, and RSS feeds.

While hosted by W3C, the Blockchain2 Community Group’s activities and outputs do not necessarily reflect the views of W3C Membership or staff. Instead, this initiative represents an opportunity for community-driven innovation in the blockchain space, encouraging a collaborative approach to shaping the future of the web.

For more information or to join the Blockchain2 Community Group, visit the W3C Community Groups page. Join the group in pioneering new technologies that will transform how we interact with the web and ensure its evolution aligns with the needs of users and developers alike.

About BSV Blockchain

The BSV Blockchain is a global organisation based in Switzerland. It is focused on enhancing the adoption and development of the BSV blockchain. The association oversees the creation of tech standards and helps governments, businesses, developers, and users learn how to build a worldwide blockchain ecosystem.

 

View original content:https://www.prnewswire.co.uk/news-releases/bsv-blockchain-launches-w3c-community-group-to-leverage-blockchain-technology-to-enhance-internet-standards-302279174.html

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Truist reports third quarter 2024 results

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CHARLOTTE, N.C., Oct. 17, 2024 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) reported its third quarter 2024 results today. Investors can access the live third quarter 2024 earnings call at 8 a.m. ET today by webcast or dial-in as follows:

The earnings release, investor presentation, including an appendix reconciling non-GAAP disclosures, and Truist’s Third Quarter 2024 Quarterly Performance Summary, which contains detailed financial schedules, are available at Truist’s Investor Relations website at https://ir.truist.com/earnings. A replay of the call will be available on the website for 30 days.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $523 billion as of September 30, 2024. Truist Bank, Member FDIC. Learn more at Truist.com.

View original content:https://www.prnewswire.co.uk/news-releases/truist-reports-third-quarter-2024-results-302278422.html

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