Sharjah Innovation Park Ties Up With ICPM to Set Up Healthcare Hub 

The Sharjah Research, Technology and Innovation Park (SRTI Park) is intensifying its focus on health technology by setting up a Healthcare Hub that seeks to bolster growth of startups and SMEs specialising in AI-based diagnostics, medical devices rehabilitation, and training.

The first step toward this goal was taken recently with the signing of a Memorandum of Understanding (MOU) with the International Conference of Pharmacy and Medicine (ICPM) to support the setting up of a Healthcare Hub at the SRTI Park, with the aim of creating a vibrant ecosystem involving different stakeholders - government, academia, large corporates and SMEs.

Keeping in mind the growing importance of the booming healthcare sector, SRTI Park aims to attract innovation-driven startups and SMEs in areas such as AI-based diagnostics, medical devices, medical rehabilitation and training. It also seeks to identify areas of cooperation with government bodies, academia and industry, as it facilitates prototyping, piloting and R&D operations at the technology park.

A Beacon for Health Technology

SRTIP's commitment to fostering a thriving health technology sector is evident through its comprehensive support system for companies operating in this field. The technology park offers a conducive environment for innovation, backed by cutting-edge infrastructure and a collaborative community of like-minded professionals. Sharjah's strategic location and investor-friendly policies further enhance its appeal, making it an ideal destination for health tech ventures.

SRTIP provides a range of facilities designed to support health technology companies at various stages of development. These include:

• Advanced Research Laboratories: Equipped with the latest technology, these labs enable companies to conduct groundbreaking research and development.
• Incubation Centers: These centers offer startups the resources and mentorship needed to grow and thrive in the competitive health tech landscape.
• Collaborative Workspaces: Flexible workspaces foster collaboration and innovation, allowing companies to share ideas and resources.
• Funding and Investment Opportunities: SRTIP facilitates connections with investors and venture capitalists interested in health technology.

Sharjah, known for its business-friendly policies and robust infrastructure, provides additional incentives for health tech companies. These include tax exemptions, streamlined business setup processes, and access to a skilled workforce. The emirate's commitment to innovation is further reflected in its substantial investments in research and development.

ICPM Exhibition: A Testament to Success

One of the notable events highlighting SRTIP's success in the health tech sector is the International Conference on Pharmacy and Medicine (ICPM). This exhibition, which has been held at SRTI Park for several years, showcases the latest advancements in medical technology and provides a platform for industry leaders to exchange ideas and forge partnerships. The ICPM exhibition and medical conference will take place at the end of this year, according to the MOU. Additionally, several specialised conferences and meetings in the healthcare sector are planned, further cementing SRTI Park's position as a hub for health technology innovation.

The partnership with ICPM also entails its sponsorship of the SAIA Healthcare Accelerator 2024 program and supporting the participating SMEs and startups, triggering value-added connections with UAE government and industry players.

The MoU also involves the launch of a series of theme-based events focused on the healthcare and wellness sector involving government entities, large UAE and international corporates, top faculty from academia and innovative SMEs and startups.

Growth of Health Tech Sector

The health technology sector in the UAE is experiencing rapid growth, driven by increasing investments and a supportive regulatory framework. According to recent reports, the UAE's healthcare market is expected to reach $19.5 billion by 2025, with significant contributions from the health tech sector. 

Through strategic initiatives and state-of-the-art facilities, SRTI Park has successfully attracted nearly 7,000 companies specialising in various technological fields. The setting up of a technology hub is yet another forward-looking step taken by SRTI Park to make a mark on this promising sector.