twofour54 launches grassroots media industry grant funding for young Arabs

18 Oct 2009

twofour54 ibtikar: creative lab offers long term sustainable development solution for region’s media and entertainment industry

twofour54 ibtikar, the media industry funding and support pillar of twofour54 Abu Dhabi today launched twofour54 ibtikar: creative lab, a grant funding scheme aimed at engaging with young Arabs and stimulating creativity in order to build a long term sustainable media industry in the Arab world.

twofour54 ibtikar: creative lab offers grant funding and business support to talented Arab individuals from the UAE and across the Middle East & North Africa (MENA) region, helping great ideas that would benefit from seed funding, development guidance and planning to get off the ground.

twofour54 ibtikar: creative lab is believed to be the first creative ideas incubator in MENA to be focused on the media and entertainment sector, and provides a starting point to a viable and long term career in this dynamic industry. It offers funds ranging from US$1,000 to US$50,000 for ideas demonstrating exceptional creativity and originality across all media platforms including television, radio, film, publishing, online, mobile, music, gaming and animation.

Speaking at the launch, Tony Orsten, CEO of twofour54 said: “twofour54 ibtikar: creative lab will be the cornerstone for a sustainable Arabic media industry within the region. It is a very important part of the ecosystem we  are putting together and will play a vital role in twofour54’s long term success.” He added by saying : “We are very excited at the prospect of working with the wealth of creative talent here, not just providing capital but building a career pathway in the media and entertainment industry.”

twofour54 ibtikar: creative lab and young Arab funding recipients will engage in regular brainstorming sessions to develop ideas into fully fledged creative projects. A key part of this collaborative process will include budget creation and training in project execution and support throughout.

Tarek Ghattas, twofour54 ibtikar: creative lab manager, added: “We want people to come forward with their media and entertainment ideas. We are looking for passion and originality and there is no such thing as a bad idea. This is an opportunity for young Arabs to unleash their inner creativity and have a go at turning vision into reality – coming to us means never having to look back and wonder what you could have been.”

twofour54 ibtikar: creative lab expands twofour54 ibtikar’s funding portfolio, which also includes ibtikar ventures, the first dedicated MENA-based media and entertainment investment fund.

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