Since its inception, funding raised by startups within TECOM Group entrepreneurship incubator in5 has crossed AED 7.8 billion, representing 163% growth over total funding raised as of 2023. This demonstrates the accelerated growth of in5’s startups this year.
“Startups are powerful engines of long-term economic growth that tangibly benefit future generations,” said Majed Al Suwaidi, Senior Vice President at TECOM Group PJSC, on behalf of in5. “The funding milestone achieved by in5’s startups strengthens our mission to unlock entrepreneurial excellence by facilitating opportunities, partnerships, and investor engagement avenues. in5’s dynamic and global community is driving Dubai’s efforts to foster a globally attuned innovation landscape that achieves the goals of the Dubai Economic Agenda ‘D33’.”
in5 has nurtured more than 1,000 startups across the technology, media, design, and science sectors since its inception in 2013 by TECOM Group, the creator of 10 specialised business districts and vibrant communities in Dubai. This includes in5 Tech, housed at a dedicated in5 Innovation Centre at Dubai Internet City as well as in5 Media, based at Dubai Production City and in5 Design, based at Dubai Design District (d3). in5 Media’s active startup numbers noted annual growth of 20% in the first half of this year as government initiatives to strengthen the regional creative economy, including Dubai Media’s vision to bolster the competitiveness of media institutions, attract a wider cohort of talent to the city.
in5 Science, which marked its first anniversary in June 2024, provides an enabling platform to more than 35 future-focused science startups. Launched in collaboration with Dubai Science Park, TECOM Group’s dedicated ecosystem for the life, energy, and environment sciences, in5 Science is cultivating a regional base of innovators in line with the Dubai Research and Development Programme’s vision.
While global trends are indicative of a shift in startup funding amid the prioritisation of sustainable ventures, funding for artificial intelligence (AI) companies has held steady in 2024. Shored up by strategies such as Dubai Economic Agenda ‘D33’, Dubai’s pro-innovation framework is enriching the regional pool of entrepreneurs harnessing technology to offer improved consumer services. This is underscored by the incubator’s recent success stories, including Ziina, a fintech startup providing peer-to-peer payment for mobile apps, that raised AED 80.8 million in a Series A funding round in September 2024. Podeo, the world’s largest podcast distribution platform founded at in5, raised AED 19.8 million in a Series A funding round that same month.
in5 offers startups in technology, media, design, and science a platform to scale up with access to advisory, mentorship, and potential investment opportunities. in5 Tech is also home to the in5 Investor Hub, a space where angel investors, venture capitalists, and institutional investors can directly engage with startups at in5 for funding and partnership opportunities.
in5’s participation at Expand North Star is part of its commitment to spotlighting its innovative ecosystem to more than 1,200 global investors expected at the event, including startups such as AI-enabled communications specialist Grambell, based at in5 Tech, and flexible stay online travel agency (OTA) Estaie, incubated at in5 Media.
