- Incubator’s start-ups have raised almost AED 3 billion to date
- More than 850 start-ups are supported by the region’s leading entrepreneurship platform
Dubai, UAE, 16 October 2023: in5, part of TECOM Group PJSC 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.
Commenting on the achievement on behalf of in5, Majed Al Suwaidi, Senior Vice President of Dubai Media City, said: “Entrepreneurs and start-ups are the heartbeat of a thriving economy, and they play a pivotal role in shaping the future of economies, fostering a culture of innovation, and driving sustainable progress for society as a whole.
“At in5, we believe in nurturing these dynamic minds, providing them with the necessary tools, mentorship, and resources to transform their ideas into successful ventures. By supporting entrepreneurs, we empower them to disrupt traditional industries, embrace new technologies, and catalyse positive change. in5’s milestones demonstrate the robustness of our incubation programme and the confidence that investors have in the ingenuity and vision of innovators and entrepreneurs in Dubai, whose efforts will shape the future of our region and beyond.”
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.
Hosted by the Dubai Chamber of Digital Economy, Expand North Star 2023 will bring together global thought leaders, innovators, and entrepreneurs from more than 100 countries, in addition to thousands of venture capitalists and over 70 unicorn founders as panellists. The event will be co-located with the 2023 editions of the Fintech Surge, Future Blockchain Summit, and Marketing Mania events at Dubai Harbour.
About TECOM Group PJSC
TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub.
The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses, and land – to over 10,000 customers and more than 105,000 professionals.
TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience.
TECOM Group also provides industry specialised facilities, including media production studios, laboratories, and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “Go Freelance” package serves freelance talents.
For more information, please visit www.tecomgroup.ae.
About in5
in5 is an enabling platform for entrepreneurs and start-ups, offering five key benefits through its robust start-up framework, creative spaces and specialised industry centres, training and mentorship programmes, community-wide networking events and access to investors. in5 nurtures ideas and businesses to their next phase of growth.
Launched in 2013 by TECOM Group to support Dubai’s start-up ecosystem and help enterprises grow into commercially viable ventures, in5’s three specialised centres for innovators in the tech, media, and design industries, provide aspiring students, entrepreneurs, and start-ups with access to a diverse community of creative minds, facilitating the constant exchange of knowledge and passionate debate conducive to ideation.
For more information, please visit www.infive.ae.