DIFC launches new ‘Innovation License’ to boost creativity, entrepreneurship

DIFC launches new ‘Innovation License’ to boost creativity, entrepreneurship

Dubai International Financial Centre, DIFC, has announced the launch of a new license for startups, entrepreneurs and technology firms.

The new "Innovation License" will attract new types of businesses to the centre and is a key initiative for the Dubai Future District, which was announced in January 2020, said a DIFC press release on Tuesday.

The new license will support innovation, creativity and entrepreneurship in the region. Entrepreneurs will grow and scale their business using the DIFC's independent English Common Law based legal and regulatory framework, world class intellectual property and data protection regime.

Innovation License holders will join the already technology firms in the region's largest financial free zone with over 2,500 firms and 25,000 professionals.

The new DIFC Innovation License comes with subsidised commercial licensing options, starting at US$1,500 per year. Businesses