Middle East

in5 launches dedicated space for investors to promote local investment and entrepreneurship

Tecom Group’s technology, design and media entrepreneurial platform, in5, introduces a new dedicated space for angel investors, venture capitalists and institutional investors at the Dubai Internet City (DIC) Tech Center. Announced.

The announcement was made at Step Conference 2022, Dubai’s tech festival in a strategic partnership with DIC.

This space allows investors to directly engage startups for funding and partnership opportunities. The digitally-enabled live feed portal reports real-time insights and funding rounds to identify investment prospects and ambitious unicorns.

The first space will increase the number of investors participating in the UAE’s business ecosystem and provide a common meeting and workshop for mutual engagement. in5 has consistently facilitated corporate investor access at various stages of an entrepreneurial journey, from seed financing to Series A financing.

In recent years, the MENA region has become a hotbed of investment activity, paving the way for more funding for start-ups.according to MAGNiTT, MENA recorded $ 2.6 billion in venture capital (VC) financing in 2021. This is the highest amount the region has ever seen. The United Arab Emirates is the most active market, with startups accounting for 45% of all funding raised across the region in 2021.

in5 aims to further strengthen the investment environment by facilitating investor access to key start-ups in the ecosystem. At the end of 2021, in5 startups reached a new milestone with an investment of over 1.4 billion Dhs. Direct investment was made through venture capital and angel investors.

Since its inception, more than 500 companies have been supported by incubators, a quarter of which are led and managed by female entrepreneurs. This is almost twice the regional average for female-owned SMEs, according to the World Bank, and is an international standard in places such as Australia, Europe and North America.

Regarding the latest addition to in5, Majed Al Suwaidi, Managing Director of Dubai Media City, said: .. It is important to continuously adapt services to the evolving global investment environment. A recent addition to the main benefits of in5 is an innovative solution that continues to foster a rich and ambitious entrepreneurial spirit in the region. ”

Meanwhile, in5, launched as a technology-focused business incubator, has grown and evolved rapidly in a state-of-the-art center that supports technology, media, and design start-ups. Notable startups that have successfully secured significant investments through incubators include the postpaid platform Tabby, which raised about Dhs485m last year and is now affiliated with major retail brands such as adidas, Ikea and Shein. increase. Eyewa, an e-commerce company for sunglasses that has secured Dhs 77m with total funds, has also gained a lot of support for its quick delivery, high quality service, and brand roster.

read: That’s why the Middle East is a lucrative market for startups

https://gulfbusiness.com/in5-to-launch-a-dedicated-space-for-investors-to-drive-entrepreneurship-in-the-region/ in5 launches dedicated space for investors to promote local investment and entrepreneurship

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