Dubai – Sharikat Mubasher: Funding raised by start-ups within TECOM Group PJSC’s entrepreneurship incubator in5 since its inception has crossed AED 7.8 billion as Dubai’s pro-innovation framework nurtures the growth of enterprises and talent.
The remarkable figure represents 163% growth over total funding raised as of 2023, demonstrating the accelerated growth of in5’s start-ups this year, according to a press release.
This was announced on the sidelines of Expand North Star, the world’s largest event for start-ups and investors being held in Dubai on 13-16 October,
On behalf of in5, Majed Al Suwaidi, Senior Vice President at TECOM Group PJSC said: “Start-ups are powerful engines of long-term economic growth that tangibly benefit future generations. The funding milestone achieved by in5’s start-ups strengthens our mission to unlock entrepreneurial excellence by facilitating opportunities, partnerships, and investor engagement avenues. in5’s dynamic and global community is driving Dubai’s efforts to foster a globally attuned innovation landscape that achieves the goals of the Dubai Economic Agenda ‘D33’.”
in5 has nurtured more than 1,000 start-ups across the technology, media, design, and science sectors since its inception in 2013 by TECOM Group, the creator of 10 specialized business districts and vibrant communities in Dubai.
This includes in5 Tech, housed at a dedicated in5 Innovation Centre at Dubai Internet City as well as in5 Media, based at Dubai Production City, and in5 Design, based at Dubai Design District (d3).
in5 Media’s active start-up numbers noted annual growth of 20% in the first half of this year as government initiatives to strengthen the regional creative economy, including Dubai Media’s vision to bolster the competitiveness of media institutions, attract a wider cohort of talent to the city.
in5 is the start-up and entrepreneurship incubator founded by TECOM Group, which has contributed to Dubai’s economic ambitions for more than two decades through sector-focused districts including Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Design District (d3) and Dubai Industrial City.