DIFC launches first global Venture Studio Launchpad

DIFC launches first global Venture Studio Launchpad

Venture studios are innovative organisations that proactively build and invest in start-ups and help them actively achieve success with their own internal capabilities. There are over 730 active venture studios around the world. Over 50 per cent of them launched in the past 5 years. The rate of growth among corporate venture studios is even higher. New ventures that launch from studios experience 30 per cent higher company success rates and about 5 per cent make it to unicorn status according to research published by the Global Startup Studio Network.

With this initiative, Dubai will become the leading hub for venture building in MEASA and join cities like San Francisco, New York, Berlin and Paris. Over the next 5 years, over 20 studios will setup in the DIFC and are expected to launch over 200 new ventures of which over 100 will be scale-ups and 10 will gain unicorn status. Together they will create over 8,000 innovation jobs in Dubai and attract over AED 2 billion in venture capital.

His Excellency Essa Kazim, Governor of DIFC, said: “DIFC is already home to the largest financial and FinTech ecosystems in the Middle East, Africa and South Asia. Launching the first global Venture Studio