DIFC-based fintech firms secure over Dh2 billion of funding in first nine months of 2022

DIFC-based fintech firms secure over Dh2 billion of funding in first nine months of 2022

The first and largest fintech accelerator programme in the region has now attracted more than 3,000 applications from all over the world, which have been whittled down to 200 participants, based on their ideas and ability to generate revenue. The programme has delivered more than 100 proof of concepts with the support of over 65 partners.

Arif Amiri, CEO of DIFC Authority, said: “In recent years, DIFC has remained at the forefront of innovation, attracting more than 600 start-ups, growth stage companies and unicorns to Dubai. These businesses are now making a sizeable contribution to our economy. To continue building momentum, it is the right time for us to strengthen our offerings by bringing more innovation propositions together under a new leader.”

Reflecting the continued importance of the fintech and innovation sector, DIFC has appointed Mohammad AlBlooshi as the Vice President and Head of DIFC Innovation Hub. Mohammad, a UAE national who has gained extensive experience at the centre, will provide leadership for the DIFC Innovation Hub, which will incorporate FinTech Hive, Venture Studio Launchpad, Dubai FinTech Summit and new initiatives that will launch in 2023.