DIFC Innovation Hub Launched to Bolster Dubai’s Fintech Ecosystem

  • Date: 11-Nov-2020
  • Source: Fintech News Middle East
  • Sector:Technology
  • Country:UAE
  • Who else needs to know?

DIFC Innovation Hub Launched to Bolster Dubai’s Fintech Ecosystem

DIFC has launched its startup incubator dubbed as the DIFC Innovation Hub.

Collectively, over 250 firms are able to work together to develop and introduce innovative solutions and business models that will redefine the future of finance with the aim of providing sustained economic growth. The environment allows businesses to develop new ideas safely and thrive at each stage of their business lifecycle.

Although over 50% of fintech startups in the Gulf Cooperation Council (GCC) are already based in DIFC, this move formalises the end-to-end DIFC Innovation Hub proposition.

The hub is expected to attract more entrepreneurs and growth companies to join the community along the accelerator and incubator programmes.

Additionally, fintech startups looking to get financially regulated can make use of the Innovation Testing License (ITL) programme, a regulatory sandbox with a clear