Dubai, UAE — in5, part of TECOM Group and an innovation and entrepreneurship hub in the region, has witnessed a 20 percent increase in the total funding raised by start-ups within its ecosystem since its inception, surpassing AED 2.9 billion ($789 million).
In the first nine months of 2023, a total of 120 new ventures joined in5’s portfolio, which amounts to a new start-up almost every other day between January and September 2023.
This announcement coincides with in5’s participation in Expand North Star 2023, the world’s largest event for start-ups and investors, being held in Dubai from October 15th to 18th at Dubai Harbour. Here, in5 is hosting 16 start-ups from its ecosystem.
Since its establishment in 2013, in5 has nurtured more than 850 start-ups, with representation from over 50 nationalities, including Canada, China, France, India, Russia, and the UK.
In5 serves as a launchpad for start-ups in the technology, media, design, and science sectors, offering a platform for scaling up and facilitating access to advisory, mentorship, and potential investment opportunities.
Majed Al Suwaidi, Senior Vice President of Dubai Media City, speaking on behalf of in5, said, “in5’s milestones demonstrate the robustness of our incubation program 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.”
TECOM Group’s diverse portfolio comprises 10 business districts, such as 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.
