Expand North Star 2023: Funding for startups at TECOM Group’s in5 surges by 20%

Expand North Star 2023: Funding for startups at TECOM Group’s in5 surges by 20%

Image courtesy: WAM

TECOM Group’s in5 has recorded a 20 per cent increase in total funding raised by startups within its ecosystem since its inception to Dhs2.9bn, according to the Government of Dubai Media Office.

The innovation and entrepreneurship platform witnessed a surge in the number of startups it supports in the first nine months of 2023, with 120 new ventures joining its ecosystem.

in5 said this translates to the incubation of a new startup every second day between January and September 2023 and underscores the platform’s commitment to nurturing entrepreneurship and fostering innovation in Dubai.

The announcement comes on the heels of its participation in Expand North Star 2023, the world’s largest event for startups and investors that is being held at Dubai Harbour, where the incubator is hosting 16 startups from its ecosystem.

. @in5dubai, part of @TECOMGroupDubai PJSC and the region’s leading innovation and entrepreneurship platform, has recorded a 20% increase in total funding raised by start-ups within its ecosystem since its inception to more than AED 2.9 billion, solidifying its position as a key… pic.twitter.com/gLmEkioHgG

— Dubai Media Office (@DXBMediaOffice) October 16, 2023

“Entrepreneurs and startups are the heartbeat of a thriving economy, and they play a pivotal role in shaping the