Dubai-based incubator In5, today announced that its startups have raised more than Dh65 million ($17.7 million) in the first half of 2020.
Launched in 2013, in5 has incubated 216 startups in total, of which 41 joined in the first six months this year.
“At in5, it is our endeavour to create a best-in-class platform for entrepreneurs and startups to launch and scale their ventures in an agile, business-friendly environment with state-of-the- art infrastructure and streamlined corporate and government services,” said Majed Al Suwaidi, managing director of Dubai Media City and an in5 leader.
Launched by Tecom, a unit of investment conglomerate Dubai Holding, In5 is dedicated to empowering entrepreneurs across the UAE and Middle East and North Africa region (Mena). It has a steering committee comprising more than 20 experts representing local and international companies such as Accenture, Microsoft and Chalhoub Group.
“Mentorship and networking opportunities are fundamental to our operations at in5 – and the number of homegrown innovators joining in5 year-on-year coupled with investment growth demonstrates our continued commitment to attract and develop talent in Dubai that can transform the technology, media and design landscapes,” added Al Suwaidi.