Dubai: Start-ups incubated within the TECOM Group PJSC’s in5 innovation center have collectively raised over AED7.8 billion in funding, marking a significant milestone that underscores the effectiveness of Dubai’s pro-innovation policies. This funding achievement was announced during the Expand North Star event, the world’s largest gathering for start-ups and investors, which took place in Dubai from October 13th to 16th.
According to Emirates News Agency, the funding raised by these start-ups represents a 163 percent increase over the total funding recorded as of 2023, highlighting a year of remarkable growth for in5. Majed Al Suwaidi, Senior Vice-President at TECOM Group PJSC, emphasized the strategic implications of this achievement for the region’s economic future. “The funding milestone achieved by in5’s start-ups strengthens our mission to unlock entrepreneurial excellence by facilitating opportunities, partnerships, and investor engagement avenues,” he stated.
Since its inception in 2013, in5 has fac
ilitated the growth of more than 1,000 start-ups across various sectors including technology, media, design, and science. These start-ups benefit from dedicated facilities like in5 Tech at Dubai Internet City, in5 Media at Dubai Production City, and in5 Design at Dubai Design District (d3). Notably, in5 Media has experienced a 20 percent increase in active start-up numbers in the first half of this year, driven by government initiatives aimed at boosting the regional creative economy.
Moreover, in5 Science, which celebrated its first anniversary in June 2024, has emerged as a vital platform for over 35 science-focused start-ups. This initiative, in collaboration with Dubai Science Park, aligns with the Dubai Research and Development Programme’s vision and is pivotal to the cultivation of a robust base of regional innovators.
In addition to providing essential resources like advisory services, mentorship, and investment opportunities, in5 also hosts the in5 Investor Hub. This facility serves as a critical ne
xus for interactions between start-ups and a diverse array of investors, including angel investors, venture capitalists, and institutional investors.
The participation of in5 at the Expand North Star event exemplifies its commitment to promoting its innovative ecosystem on a global stage, with over 1,200 investors in attendance. Featured start-ups at the event included Grambell, an AI-enabled communications firm, and Estaie, a flexible stay online travel agency, both of which are incubated within in5.