Dubai’s DIFC FinTech Hive to host new accelerator for redundant employees

FinTech Hive will host ASPIRE, a virtual accelerator targeted at corporates who want to help their departing employees to build their own startups.

FinTech Hive is a fintech hub based out of the Dubai International Financial Centre. ASPIRE on the other hand is an initiative of Rainmaking, a corporate innovation and venture development firm, and parent company of Startupbootcamp.

Companies making redundancies can access the ASPIRE programme via the DIFC FinTech Hive. ASPIRE hopes to reach 5,000 participants in the next 12 months.

ASPIRE is a 20-week programme that hopes to equip departing employees with the skills they need to develop a revenue-generating business. It is based on Startupbootcamp’s startup growth methodology, which is designed to improve the 10 per cent survival rate of early-stage startups. According to the company, nearly three quarters (74 per cent) of the 900 startups that have graduated Startupbootcamp are either still active or have exited.

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The programme includes, a self-guided virtual programme with weekly starts and playbooks, weekly workshops and group coaching, 1:1 coaching and practice pitch sessions and access to early-stage VCs, angel investors and over 100 mentors. Rainmaking is also promising more than $550,000 in exclusive partner deals from technology and wellbeing brands such as Amazon, 7 cups, HubSpot and SendGrid.

“The ASPIRE programme will help retain talented individuals in Dubai who want to make a difference to our economy,” said Raja Al Mazrouei, executive vice president of DIFC FinTech Hive.

“As firms accelerate their digital agendas and people become more entrepreneurial we will provide a platform and opportunities for participants to realise their ambitions,” she added.