Friday, June 25, 2021

Minister of State for Entrepreneurship and SMEs meets senior representatives, Angel investors, Startups at in5 in Dubai

His Excellency Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, has visited in5, TECOM Group’s enabling platform for entrepreneurs and startups. During the visit, H.E was briefed by the in5’s leadership on the achievements of emerging startups and engaged in discussions around future opportunities to strengthen the entrepreneurship ecosystem in the UAE and establish the UAE’s position as a talent hub.

H.E. toured in5 Tech Centre with senior representatives from Dubai Holding including Abdullah Belhoul, Chief Operating Officer of Dubai Holding Asset Management, Majed Al Suwaidi, Managing Director of Dubai Media City, and Ammar Al Malik, Managing Director of Dubai Internet City. High-level meetings with angel investors and entrepreneurs contributing to the region’s booming startup ecosystem also took place.

During the visit, Majed Al Suwaidi presented the startups ecosystem in the UAE, the leading incubator’s achievements and current portfolio of innovative startups. Between 2013 and mid-2020, in5 has supported more than 450 local and international startups across tech, media and design and supported them raise over AED 465 million in funding and direct investments.

It currently fosters more than 200 active startups and many more have successfully graduated and are supporting Dubai’s economic growth and diversification efforts.

H.E. Dr Ahmad Belhoul Al Falasi met several innovative startups including Desert Control, which offers a solution to revolutionise the war against desertification and food security; Derq, an award-winning artificial intelligence platform that eliminates road accidents and save lives; Emirati women-led training platform Sxill Labs; and influencer networking community Ushine.

Venture capital firms Dubai Angel Investors and Global Ventures provided an outlook on the regional funding landscape and shared recommendations on boosting the attractiveness of the UAE’s startup ecosystem to global investors.

H.E. Dr Al Falasi applauded in5 for its role in empowering talented and creative individuals. in5 has a membership scheme that offers students, freelancers, professionals and entrepreneurs with access to the prototyping labs, 3D printers and creative facilities at competitive rates.

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