Twofour54 Abu Dhabi To Launch Creative Lab For Your Ideas

20091012_creative-lab-logo-v2twofour54 ibtikar, the media industry funding and support pillar of twofour54 Abu Dhabi,will launch Ibtikar Creative Lab funding solution.

In our question to Tarek Ghattas, Creative Lab Manager, about the launch he said that it’s just the start, Ibtikar Creative Lab will be scheduled road shows to visit universities, malls and key areas, where they can interact one-on-one with the young Arabian crowd. Tarek added that no schedule of information about the road shows yet, but they will be covering most of the UAE.

If you have idea in online, TV, film, game, magazine or animation concept, but don’t have a business plan and/or contacts to get funded, they will provide grant funding on a not-for-profit basis. It will be the first creative ideas incubator focused on the media and entertainment sector in the MENA region. It will primarily provide grant funding, ranging from US$1,000 to US$50,000, for ideas across all media platforms demonstrating exceptional creativity and originality.

Alongside funding they will also offer guidance and expertise to facilitate the development and execution of ideas, helping turn concepts into commercially viable propositions.

In order for you to get a better understanding on the process I have demonstrated the stages:

1. Fingers Crossed, I’m Reading The Guidelines

  • Ibtikar Creative Lab provides grant funding in the range of US$1,000 to US$50,000.
  • It differs from twofour54 ibtikar’s other funding activities in that they are not looking to own your idea or format, nor do they require our money back.
  • They are interested in backing locally originated, Arab-led initiatives that demonstrate unique and exceptional creativity.
  • You must convince them about the long term potential of your project.
  • If they like your project and believe it is a potential success, you will be provided with a working space and environment at twofour54 for you to develop your idea.

2. Do I have To Answers These Questions

  • What makes your idea original and what you are trying to achieve?
  • Who are the people you are targeting i.e. age, location etc and why?
  • How will Ibtikar Creative Lab grant help you execute and commercialize your idea?
  • How much grant funding do you really need to develop the idea?

3. Just Do It

  • You can submit your idea either by filling in a form during the event or online

4. God Wish Me Luck, I’ve Done My Best

  • Your idea will be reviewed and evaluated by a professional team.
  • If your idea is a potential successful project, you are qualified and eligible for the grant.
  • They invite you over to start working together.

4. Wow, Bigger Than What I Thought

  • They will have brainstorming sessions with you to develop your idea into a fully fledged project.
  • They will create a budget for that production, and release the grant.
  • They will train you on how to execute your project and do it together.
  • Once the project is done, they will help you to try and sell it.

I look forward to hearing your idea’s success.

Article Update (1): 2:48 pm Dubai Time, October 14th, 2009

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Tarek is the founder and chief researcher at Youngberry, a youth research and marketing firm dedicated to the region. Tarek founded interactiveME.com and previously worked as Manager at Flip Media (Interactive Agency), Bayt.com (Job Site) and Consulting House Qatar (Consulting firm). He is researcher and writer on internet & disruptive innovation, entrepreneurship, and youth culture.