Touch launches ‘Innovation Lab’ initiative
Touch, the mobile telecom operator, launched its Touch Innovation Program (TIP) to select potential entrepreneurs and enhance their potential.
TIP partners with Arabnet and Antwork to provide mentorship and working space.
Nadim Khater, Chief Commercial Officer at Touch, said that this project moves in parallel to the digital transformation plan within Touch. This plan includes partnering with content providers for a shared revenue model. Among the recent partners, Touch had teamed with Anghami to offer streaming music to subscribers. Touch will offer similar partnership models to potential entrepreneurs.
TIP will select eight to 12 ideas every year, through two semi-annual batches. Applicants can apply through TIP’s website in February while a selection committee will announce the teams in March.
Khater said entrepreneurs in the digital and technology fields will benefit from B2B and B2C opportunities through Touch communication channels. Participating teams can profit, for instance, from Touch’s social media presence, to access its large base of subscribers.
Omar Christidis, Founder and Chief Executive Officer at Arabnet, said that TIP will ensure a win-win situation for selected entrepreneurs where they will get the best mentorship program.
Zina Bdeir Dajani, Founder and Chief Executive Officer at Antwork, said that entrepreneurs will have access to Touch Lab space for meetings within Antwork premises and workshops.
Currently, there will be no financing for entrepreneurs from the program initiators. But at a later stage, teams could benefit from a fund currently being prepared by the Ministry of Telecommunications (MoT) to partner with entrepreneurs and provide them with the required financial and operational expertise.
Date Posted: Jan 31, 2018