Autodesk's $100m fund to support Dubai 3D printing
Dubai Future Foundation signed an MoU with Autodesk to identify investment channels for the latter's Spark fund, aimed at supporting 3D printing startups
Dubai Future Foundation will work with US-headquartered Autodesk to fulfil the emirate's 3D printing initiatives.
The organisations signed a memorandum of understanding (MOU) that tasks the Foundation with identifying investment channels for Autodesk's $100m (AED367.3m) Spark investment fund for the region.
It is hoped that the investments will benefit businesses relying on 3D printing in their operations and boost the region's 3D printing startups.
Under the MoU, Autodesk is charged with evaluating innovation in the regional 3D printing sector to map out a strategy for its Spark fund.
The agreement, signed by Saif Al Aleeli, CEO of Dubai Future Foundation and Amar Hanspal, senior vice president for 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.
The MOU, it is hoped, will accelerate the establishment of a regional 3D printing market to deliver manufacturing, construction, medical, and consumer products.
Remarking on the MOU, Mohammed Al Gergawi, vice chairman and managing director of Dubai Future Foundation, said the Dubai 3D Printing Strategy will "drive the growth of the global 3D printing market, set to be worth $300bn by 2030".
According to WAM, he added: "3D printing technology will revolutionise the economic sectors that most affect people’s lives."