Dubai, UAE, 22 January 2020: DIFC’s FinTech Hive revealed the launch of a new funding accelerator programme for FinTech start-ups in the MEASA region. FinTech Hive Scale Up programme benefits scaleups by helping them grow through strategic partnerships and receiving investment resources through the DIFC FinTech Hive ecosystem.
Through a series of collaborations with multiple partners, the programme provides start-ups with fast access to funding, access to partner resources, support services as well as connections to investor networks.
The new accelerator programme is supported by six leading investment partners – Middle East Venture Partners (MEVP), Etisalat, DIFC FinTech Fund, Dubai Cultiv8, FALCOM Financial Services and NIcapital. Partners gain access to the startup ecosystem and benefit from faster access to growth and scale markets.
The FinTech Hive Scale Up programme is designed for post series A start-up companies with a scalable and repeatable business model. These are scaleups that will experience powerful impact from gaining access to venture capital and funds from the region on business growth potential.
Commenting on the announcement, Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, said: “We are delighted to have launched the ‘FinTech Hive Scale Up’ programme to support the region’s growing FinTech community, and give them a strong platform to drive innovation in the MEASA region.”
FinTech Hive Scale Up programme is the second to launch under DIFC’s FinTech Hive following the FinTech Hive Accelerator program for growth stage startups.
DIFC was last year awarded ‘FinTech Hub of the Year’ in the FinX awards. This award reflects DIFC’s achievements as a global hub for innovation and excellence and further cements the Centre’s reputation as one of the world’s most dynamic financial centres and leading FinTech ecosystem in the MEASA region.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.
With a 15-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 24,000 professionals working across over 2,300 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.