By David Ingham
Accenture today said it will work closely with Dubai Ideas Oasis, but it stopped short of investing any money in the business incubator
Accenture today committed itself to working closely with Dubai Ideas Oasis (DIO), the business incubator located in Dubai Internet City.Accenture has knowledge in areas such as finance, process development and IT that DIO believes its startups could use to help them plan business strategies.“The dramatic shifts we have seen in the New Economy in the last year have provided us with an understanding of how to identify successful business models,” said Phillipe Rixhon, partner, Accenture. “We hope to use this expertise with clients in the dynamic Middle East business environment.”A statement says that Accenture will base up to four consultants in DIO, but it wasn’t made clear whether or not this expertise will be available to DIO companies at preferential rates. Rather, both companies described the announcement as an endorsement of DIO’s strategy of closely assisting startup companies with their pre-IPO development.Accenture has not however invested money in DIO, which has made 25% of its equity available for sale to international investors. Rixhon did not rule out a direct investment in DIO or in DIO’s venture capital funds later on.