Dubai International Financial Centre (DIFC) will partner with Startupbootcamp to support the growing FinTech ecosystem at the finance centre.
The partnership with the accelerator will look at programmes to support early stage startups within the fields of FinTech, InsurTech and RegTech, in collaboration with a broad range of stakeholders from various sectors.
The programme will focus on providing guidance and mentorship to support early stage startups during their incubation period. It will also see the two parties jointly nurture the UAE and regional venture capital ecosystem. The new collaboration is intended to build on DIFC's position as a leading centre for FinTech in the region.
Arif Amiri, CEO of the DIFC Authority, said: "As MEASA's leading FinTech hub and one of the world's top 10, Dubai remains at the forefront of driving the future of this important industry and enabling the development of an inclusive financial ecosystem across the MEASA region. We continue to deliver on our promise to lead the development of a world-class FinTech ecosystem in the region and provide an integrated platform for entrepreneurs, startups, and venture capital firms, to come together and create innovative solutions for the region through our collaboration with industry leaders like Startupbootcamp.
"All of the efforts we are delivering are part of the broader innovation-led strategy that Dubai is promoting, guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai," he added.
Carsten Koelbek, Chairman of Startupbootcamp, said: "Startupbootcamp has been leading the development of the FinTech and InsurTech industries in cities like London, New York, Singapore, Amsterdam, Mexico City and Mumbai through our programmes. To date we have invested in and accelerated more than 200 FinTech and InsurTech startups.
"We are now excited about expanding our global FinTech and InsurTech foot print to Dubai and look forward to collaborating with DIFC, the leading financial centre in the MEASA region, and industry partners to both help local and regional talent grow their businesses, but also to bring the best international startups to Dubai so they can partner with the established players here in Dubai and together bring new technology and business models to the market."