In5 Start-ups Reach AED 7.8 Billion Funding Milestone Amidst Dubai's Innovation Drive

Start-ups within TECOM Group PJSC's in5 incubator have secured over AED7.8 billion in funding since its launch. This milestone was announced during Expand North Star, a major event for start-ups and investors in Dubai from 13th to 16th October. The figure marks a 163 percent increase in total funding compared to 2023, highlighting the rapid growth of in5’s start-ups this year.

"Start-ups are powerful engines of long-term economic growth that tangibly benefit future generations," stated Majed Al Suwaidi, Senior Vice-President at TECOM Group PJSC, representing in5. "The funding milestone achieved by in5’s start-ups strengthens our mission to unlock entrepreneurial excellence by facilitating opportunities, partnerships and investor engagement avenues. in5’s dynamic and global community is driving Dubai’s efforts to foster a globally attuned innovation landscape that achieves the goals of the Dubai Economic Agenda ‘D33’."

Since its inception in 2013 by TECOM Group, in5 has supported over 1,000 start-ups across technology, media, design, and science sectors. This includes in5 Tech at Dubai Internet City, in5 Media at Dubai Production City, and in5 Design at Dubai Design District (d3). These hubs provide start-ups with resources to grow through mentorship, advisory services, and investment opportunities.

In5 Media has seen a 20 percent annual growth rate among its active start-ups during the first half of this year. This growth aligns with government initiatives aimed at enhancing the regional creative economy. The initiatives also support Dubai Media's vision to increase media institutions' competitiveness and attract diverse talent to the city.

In June 2024, in5 Science celebrated its first anniversary. It supports more than 35 science-focused start-ups through collaboration with Dubai Science Park. This initiative aligns with the Dubai Research and Development Programme's vision to foster innovation within life sciences, energy, and environmental sectors.

In5 Tech hosts the Investor Hub where angel investors, venture capitalists, and institutional investors can connect directly with start-ups for funding opportunities. This platform helps start-ups scale up by providing access to potential investments and partnerships.

Global Engagement at Expand North Star

In5's involvement at Expand North Star highlights its commitment to showcasing its innovative ecosystem to over 1,200 global investors attending the event. Notable participants include AI-enabled communications specialist Grambell from in5 Tech and flexible stay online travel agency Estaie from in5 Media.

The continued success of TECOM Group's entrepreneurship incubator reflects Dubai's supportive environment for business innovation. By nurturing talent across various sectors, it contributes significantly to achieving the objectives outlined in the Dubai Economic Agenda 'D33'.

With inputs from WAM