in5 to launch a dedicated space for investors to drive entrepreneurship in the region
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in5 to launch a dedicated space for investors to drive entrepreneurship in the region

in5 to launch a dedicated space for investors to drive entrepreneurship in the region

The space will enable investors to directly engage startups for funding and partnership opportunities

in5, Tecom Group’s enabling platform for entrepreneurs in tech, design and media, has announced the introduction of a new dedicated space to accommodate angel investors, venture capitalists and institutional investors at its Tech centre in Dubai Internet City (DIC).

The announcement was made at Step Conference 2022, the tech festival in Dubai hosted in strategic partnership with DIC.

The space will enable investors to directly engage startups for funding and partnership opportunities. A digitally enabled live feed portal will also report real-time insights and funding rounds to identify investment prospects and aspiring unicorns.

The first-of-its-kind space provides the growing volume of investors entering the UAE’s business ecosystem a common meeting and working ground to engage one another. in5 has always facilitated access to investors for businesses at varying stages of their entrepreneurial journey, from seed funding all the way to Series A fundraising.

In recent years, the MENA region has become a hotbed for investment activity, paving the way for greater funding for emerging startups. According to MAGNiTT, MENA recorded $2.6bn in venture capital (VC) funding in 2021 – the highest the region has ever seen. The UAE was most active market with startups accounting for 45 per cent of all funding raised across the region in 2021.

in5 aims to further enhance the investment climate by boosting investor access to leading startups in its ecosystem. At the end of 2021, in5 startups reached a new milestone by crossing the Dhs1.4bn investment mark. The direct investments came through venture capital and angel investors.

More than 500 businesses have been supported by the incubator since its inception, of which a quarter are led and managed by female entrepreneurs—nearly twice as high as the regional average of women-owned SMEs, according to the World Bank, and in line with international standards in places such as Australia, Europe and North America.

Speaking about the latest addition to in5, Majed Al Suwaidi, managing director of Dubai Media City, said: “Facilitating access to funding has always been an integral part of our offerings – it is what enabled our startups reach new milestones and grow regionally and internationally. It is important for us to keep adapting our offerings in step with the evolving global investment landscape, and the latest addition to in5’s key benefits is an innovative solution to continue nurturing the region’s rich and ambitious entrepreneurial spirit.”

Menawhile, in5 was launched as a tech-focused business incubator before rapidly growing and evolving with state-of-the-art centres supporting tech, media and design startups. Notable startups that successfully secured significant investments through the incubator include buy-now-pay-later platform tabby, which raised approximately Dhs485m in the last year and now works with leading retail brands such as adidas, Ikea and Shein. Sunglasses e-commerce company Eyewa, which secured Dhs77m in total funding, has also amassed a significant following for its fast delivery, quality service and roster of brands.

Read: Here’s why the Middle East region is a lucrative market for startups

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