TECOM reports 20% rise in start-up funding
in5, part of TECOM Group and the region’s leading innovation and entrepreneurship platform, has recorded a 20% increase in total funding raised by start-ups within its ecosystem since its inception to more than AED 2.9 billion, solidifying its position as a key player in the regional start-up ecosystem.
During the first nine months of 2023, in5 witnessed an extraordinary surge in the number of start-ups it supports, with 120 new ventures joining its portfolio. This translates to the incubation of a new start-up every second day between January and September 2023, highlighting its unwavering commitment to nurturing entrepreneurial talent and fostering innovation in Dubai.
in5’s announcement comes on the heels of its participation in Expand North Star 2023, the world’s largest event for start-ups and investors that is being held in Dubai on 15-18 October at Dubai Harbour, where the incubator is hosting 16 start-ups from its ecosystem.
in5 has nurtured more than 850 start-ups since its inception in 2013, and its diverse community embodies Dubai’s cosmopolitan business ethos, comprising over 50 nationalities, such as Canada, China, France, India, Russia, and the UK, mirroring a growing trend of start-ups relocating their global headquarters to Dubai in recognition of the city’s appeal as a thriving business hub.
in5 provides start-ups in technology, media, design, and science a platform to scale up, and facilitates access to advisory, mentorship, and potential investment opportunities. The incubator celebrated its 10th anniversary in June 2023 with the launch of in5 Science to facilitate entrepreneurship and investment for science-based start-ups under the Dubai Economic Agenda ‘D33’ umbrella. in5 also operates three centres enabling businesses and innovation in Tech in Dubai Internet City, Media in Dubai Production City, and Design in Dubai Design District (d3).
In addition to in5, TECOM Group’s portfolio offers value-added platforms such as co-working spaces through D/Quarters, freelance packages via GoFreelance, and an integrated smart services platform, axs.
TECOM Group’s portfolio also comprises 10 business districts, including Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Science Park, Dubai Knowledge Park, Dubai International Academic City, Dubai Design District (d3) and Dubai Industrial City.
Also published on Medium.
