Dubai’s in5 incubator, operated by Tecom Group, has reported a 25% growth in funding raised by startups since its establishment. The surge, reaching Dh3 billion last year, reflects Dubai’s growing reputation as a hub for entrepreneurship and investor confidence in its business-friendly environment.
The increased funding indicates rising interest in Dubai’s local enterprises, supported by government initiatives to position the city as a global innovation capital.
“Startups are the inherent problem-solvers we need to unlock sustainable growth for our future generations,” said Majed Al Suwaidi, Senior Vice President at Tecom Group, on behalf of in5. “There is global stakeholder acknowledgement about the innovation, resilience, and creativity with which startups can disrupt and redefine the future economy, and in5’s recent track record reaffirms its vision to mitigate roadblocks for the world’s most enterprising futurists.
“As an essential pillar of entrepreneurship in the region, in5 will continue to nurture our cohort of entrepreneurs and strengthen the pathways towards fulfilling the goals of the Dubai Economic Agenda ‘D33’,” he added.
Since its inception, in5 has incubated nearly 900 startups. Particularly noteworthy is the annual growth in the technology sector, with in5 Tech, the incubator’s tech-focused vertical based in Dubai Internet City, experiencing a 13% increase in active startups, totalling 270 in 2023.
