Start-ups within TECOM Group PJSC’s in5 incubator have raised over AED 7.8 billion in funding, marking a 163 percent increase compared to previous totals.
This milestone, announced during the Expand North Star event in Dubai from October 13th to 16th, reflects Dubai's commitment to fostering innovation and nurturing enterprise growth. The sharp rise in funding underscores the accelerated development of in5’s entrepreneurial ecosystem in 2024.
Majed Al Suwaidi, Senior Vice-President at TECOM Group, emphasized the impact of start-ups on long-term economic growth, noting that in5 is playing a pivotal role in shaping Dubai’s innovation landscape.
“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 said.
Launched in 2013 by TECOM Group, in5 has supported over 1,000 start-ups across technology, media, design, and science. The incubator is divided into three specialized hubs: in5 Tech, based at Dubai Internet City, in5 Media at Dubai Production City, and in5 Design at Dubai Design District. Notably, in5 Media saw a 20 percent annual growth in active start-ups in the first half of this year.
In5 Science, which celebrated its first anniversary in June 2024, supports over 35 start-ups focused on life sciences, energy, and environmental solutions in line with Dubai’s Research and Development vision. The incubator continues to provide entrepreneurs access to mentorship, advisory services, and funding opportunities, as well as direct engagement with investors through its in5 Investor Hub.
In5’s participation in Expand North Star highlights its role in promoting Dubai as a global innovation hub.
News Source: Emirates News Agency
