The European accelerator is setting up shop in DIFC to establish a hub for tech-driven startups in the region.
The world renowned, multi-faceted global startup accelerator Startupbootcamp is setting up a regional headquarters at the Dubai International Financial Centre (DIFC). The Dubai-based economic zone announced that the new office is yet another development in what has been a longstanding partnership between DIFC and the high-powered platform.
One of the notable mileages from this partnership is Startupbootcamp Fintech Dubai, which banded together DIFC, VISA, Mashreq and HSBC to accelerate fintech startups in the emirate. Since then, the programme has successfully graduated 20 startups within the lending and payments domain. Additionally, DIFC and Startupbootcamp Dubai have devised an annual intensive three-month growth programme to support startups, and open the way for the entrepreneurs to get real hands-on experiences that fuel their respective industry know-how.
“After years of steadfast growth and development in FinTech, we are delighted to welcome Startupbootcamp’s headquarters to our Centre,” said Arif Amiri, Chief Executive Officer of DIFC Authority. “Our strategic partnership with Startupbootcamp strengthens our commitment to shaping the future of finance and supporting Dubai’s position as the leading global financial hub in the Middle East, Africa and South Asia region through developing successful and innovative FinTech start-ups in the DIFC.”
The region’s become an incredibly fertile ground for the FinTech industry, with it being the leading sector in H1 2020 amounting to 16% of the total number of deals. Lars Buch, CEO of Rainmaking MENA & Russia, Startupbootcamp’s parent company, said: “We decided to move Rainmaking MENA’s headquarter in DIFC to give new impulse to our common commitment to drive innovation in the UAE and support the growth of promising tech companies from different industries. Since 2017, Rainmaking and DIFC have been partnering to attract the best FinTech startups from around the globe, and we’re now working on launching together new and ambitious innovation programs that will generate a huge impact in the UAE.”
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