PHOTO
Dubai, UAE: Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, announced today that it is entering a partnership with Startupbootcamp, to support the development of the growing FinTech and venture capital ecosystem in the Centre as well as promote entrepreneurship in the region.
Startupbootcamp has a reputation for being the world’s largest global network of industry-specific programmes that support early stage tech companies to rapidly scale their businesses by providing access to an international network of the most relevant mentors, partners and investors. With over 1,853 active registered companies and a Fintech community of over 45 firms as well as numerous FinTech-related clients, DIFC is today MEASA’s leading financial centre and FinTech hub. In addition to FinTech Hive at DIFC, the region’s first accelerator programme for growth stage startups, DIFC’s FinTech ecosystem comprises an innovation-testing license, FinTech licence, an interactive and collaborative workspace, along with access to the largest financial community in the region.
The partnership will explore setting up multiple programmes for early stage startups within the fields of FinTech, InsurTech and RegTech, in collaboration with a broad range of stakeholders from various sectors – beyond the realm of financial services. The programme will focus on providing the necessary guidance and mentorship to support the qualifying early stage startups during their incubation period. It will also see the two parties jointly nurture the UAE and regional venture capital ecosystem, building on DIFC’s success in this field. This collaboration will help stimulate the development of complementary products and services and promote the entrepreneurial surge in the UAE, which will attract more venture capital into the region.
Arif Amiri, Chief Executive Officer at the DIFC Authority, said: “As MEASA’s leading FinTech hub and one of the world’s top 10, Dubai remains at the forefront of driving the future of this important industry and enabling the development of an inclusive financial ecosystem across the MEASA region. We continue to deliver on our promise to lead the development of a world-class FinTech ecosystem in the region and provide an integrated platform for entrepreneurs, startups, and venture capital firms, to come together and create innovative solutions for the region through our collaboration with industry leaders like Startupbootcamp.
All of the efforts we are delivering are part of the broader innovation-led strategy that Dubai is promoting, guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai.”
Carsten Koelbek, Chairman of Startupbootcamp, said: “Startupbootcamp has been leading the development of the FinTech and InsurTech industries in cities like London, New York, Singapore, Amsterdam, Mexico City and Mumbai through our programmes. To date we have invested in and accelerated more than 200 FinTech and InsurTech startups. We are now excited about expanding our global FinTech and InsurTech foot print to Dubai and look forward to collaborating with DIFC, the leading financial centre in the MEASA region, and industry partners to both help local and regional talent grow their businesses, but also to bring the best international startups to Dubai so they can partner with the established players here in Dubai and together bring new technology and business models to the market.”
Startupbootcamp has relationships with an unparalleled network of global brands, investors and mentors who will bring their expertise into the region to help the selected programme participants develop locally, regionally and globally relevant FinTech and InsurTech solutions.
-Ends-
About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is one of the world’s top ten financial centres, and the leading financial hub for the Middle East, Africa and South Asia. The Centre provides a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas and facilitates growth in South-South trade and investment. An onshore, international financial centre, DIFC offers a stable, mature and secure base for financial institutions to develop their wholesale businesses.
The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator and judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.
Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.
In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing the Middle East, Africa, Southern Asia and Latin America.
Currently, 1,853 active registered companies operate from the Centre, with a combined workforce of 22,338 professionals.
DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.4 trillion.
For further information, please visit our website: difc.ae, or follow us on Twitter @DIFC.
About Startupbootcamp
Founded in 2010, Startupbootcamp is a global family of industry-focused programs. They operate more than 20 programmes across the world in locations including London, San Francisco, Amsterdam, Berlin, Mumbai, Mexico City, New York and Dubai. Backed by an international network of mentors, investors and corporate partners, Startupbootcamp supports from early-stage founders to growth-stage companies.
They have accelerated more than 600 companies and plans to expand its global reach among corporates by providing established industry players early access to relevant growth-stage companies. 72% of the startups that have gone through a Startupbootcamp program are still active and growing and the company has also helped create almost 3000 jobs in the past decade.
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
