Startupbootcamp, one of many international industry-focused start-up accelerators, is establishing its Center East and North Africa base on the Dubai Worldwide Monetary Centre (DIFC) because it appears to develop its partnership with the emirate’s monetary free zone.
Startupbootcamp, which is a part of company innovation and enterprise growth agency Rainmaking, and DIFC at the moment conduct an annual three-month progress programme that helps native start-ups to scale their operations and enhance their enterprise.
“Our strategic partnership with Startupbootcamp strengthens our commitment to shaping the future of finance and supporting Dubai’s position as the leading global financial hub in the Middle East, Africa and South Asia region,” Arif Amiri, chief govt of the DIFC Authority, stated in a press release on Monday.
“The DIFC’s robust ecosystem of unique infrastructure, expertise in multiple fields, and access to the international community of the world’s leading financial institutions, offers stellar opportunities for new start-up FinTech firms both in the region and globally.”
Launched in 2018 in partnership with the DIFC, international funds agency Visa, HSBC and Mashreq, Startupbootcamp FinTech Dubai accelerator has to this point graduated 20 funds, lending and Islamic digital banking FinTech start-ups.
During the last three years, growth of the FinTech sector has change into a focus for Dubai’s onshore monetary hub. There are greater than 200 FinTech corporations primarily based out of the DIFC, accounting for over 50 per cent of all FinTech companies within the GCC, in response to the assertion.
In the course of the first half of this yr, the DIFC FinTech Hive has tripled in measurement, because it opened up a bigger house within the monetary freezone’s Gate Avenue. The DIFC is at the moment enterprise three recurring programmes – DIFC FinTech Accelerator, FinTech Hive Scale Up and Startupbootcamp scheme – that assist start-ups at numerous progress levels.
“Since 2017, Rainmaking and [the] DIFC have been partnering to attract the best FinTech start-ups from around the globe, and we’re now working on launching together new and ambitious innovation programmes that will generate a huge impact in the UAE,” Lars Buch, chief govt of Rainmaking Mena & Russia, stated.
“Although the post-Covid[-19] era will push the world towards an increasingly virtual dimension, we will still need a physical hub where businesses can meet, exchange knowledge and develop together new opportunities. And DIFC is just the best place to make this happen,” he added.
Up to date: July 27, 2020 02:32 PM