Dubai, UAE — More than 200 start-ups graduating from the programs of DIFC Innovation Hub in 2023 have collectively raised more than $600 million in funding, said Mohammad AlBlooshi, CEO of the Hub.
AlBlooshi was speaking at the DIFC’s flagship Investor Day, which was attended by over 500 people, including key figures from the investor community and finalists of the ninth edition of the FinTech Accelerator Programme and the seventh edition of AccelerateHer.
“The FinTech Accelerator Programme has a phenomenal track record of empowering start-ups by helping them to transform their ideas into products and offerings unique to the financial market. The solutions showcased this year are some of the best we have seen within the industry and we congratulate these pioneers on successfully completing their programs,” he said.
In 2023, the program also saw a record-breaking number of participants with over 700 applicants for a single cohort, out of which 19 start-ups graduated.
DIFC Innovation Hub is home to the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region.
The event served as a ‘graduation day’ for 19 start-ups from the FinTech Accelerator Programme – with a record-breaking 20+ proof-of-concepts created – and 10 women financial services professionals from AccelerateHer who showcased their business plans and enhanced skillset, having been mentored by some of the region’s leading banks and insurance companies.
This year, AccelerateHer participants received endorsement and mentorship from Dubai Islamic Bank, whereas the FinTech Accelerator Programme was supported by Abu Dhabi Islamic Bank (ADIB), Abu Dhabi National Insurance Company (ADNIC), Emirates NBD, Emirates Post Group (EPG), HSBC, Mauritius Commercial Bank (MCB), Visa and Zurich.
DIFC is home to over 800 FinTech and Innovation companies who are unlocking the future of finance. Innovative start-ups including, Norbloc, Sarwa, Tarabut gateway and Zywa have graduated from accelerator programmes by the DIFC Innovation Hub.