UAE – Dubai International Financial Centre (DIFC), a leading financial hub for the Middle East, Africa, and South Asia (MEASA) markets, said it has partnered with the Indian non-profit supporting start-ups Indus Entrepreneurs (TiE) to help Indian FinTechs scale their businesses across the region.

DIFC met with 17 FinTech startups from Mumbai through a two-day programme to learn about their business models and cater them with suitable solutions that bolster their growth in fast-growing emerging markets, according to a press release.

DIFC FinTech Hive and Startupbootcamp manage two successful accelerator programmes of the integrated DIFC FinTech ecosystem, including “a $100 million FinTech fund, subsidised licensing options, fit-for-purpose regulation and access to a financial community of over 2,100 regional and global institutions, of which more than 80 are FinTech-related companies.”

Salmaan Jaffery, chief business development officer at DIFC Authority, said: “Since our establishment in 2004, we have attracted a number of Indian banks and financial institutions to the DIFC, and in recent years we see similar interest from Indian FinTechs, which account for approximately 10% of our FinTech ecosystem.”

Jaffery also expected this number to increase in the future as DIFC will maintain cementing their ties with the Indian market.

Moreover, Atul Nishar, president of TiE Mumbai, said: “As a part of our global connect programme, TiE Mumbai has partnered with DIFC to create access to knowledge, markets, funds, and talent in those regions.

“These partnerships present excellent growth opportunities for Mumbai Startups. Dubai and India have deeply embedded commercial, trade, and cultural ties and today this relationship goes from strength to strength,” Nishar added.

TiE Mumbai, through which over 1,000 startups have been successfully connected to investors, acts as a representative for more than 2,500 startups in the Greater Mumbai region.

In the last few years, TiE has connected and mentored over 2,000 entrepreneurs and startups.

Source: Mubasher

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