USD 100 million fund allocated to help promising start-ups raise growth capital

CIOMajlis delegation visited DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa, and South Asia (MEASA) region.

The aim of the visit was to know more about FinTech Hive and its programmes, designed to help Fintech, InsurTech, RegTech and Islamic Fintech startups create solutions for the MEASA region’s largest financial industry and insurance market, and also to discover some of the raising unicorns such as Flybits, CoralX, Crossval, Infinitech and Uqudo.

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of US$ 7.7 trillion.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 25,600 professionals working across over 2,500 active registered companies – making up the largest and most diverse pool of industry talent in the region.

Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.

“We were really delighted to exchange knowledge with DIFC FinTech Hive team.” Said Ahmed Al Ahmed, Chairman of CIOMajlis. “We were impressed by the number of startups and the impressive pool of talents that the entity houses which reflects its exponential growth year on year“. added Ahmed.

“It was a great opportunity to host the CIOMajlis delegation and present DIFC FinTech Hive’s continued efforts in developing the Fintech ecosystem in the region especially in front of esteemed leaders from various organisations. It was especially great to have some of our start-ups present their solutions that were developed through our flagship Accelerator programme. We hope to always serve as a platform to connect all types of FinTech start-ups to the leading organisations as we aim to foster limitless innovation and continue to lead the region.” expressed Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive.

Established in 2016 by Smartworld under the patronage of H.H Sheikh Ahmed Bin Saeed Al Maktoum, CIOMajlis functions as a thought leadership and networking hub for Senior Technology Executives to swap industry knowledge, explore business solutions, and share experiences. CIOMajlis is strategically sponsored by The Investment Corporation of Dubai (ICD), a state-owned holding company and sovereign wealth fund owned by the government of Dubai.

CIOMajlis is set to enhance capabilities of its members and competitiveness of their organisations through the organization of monthly roundtables, site visits, overseas innovation tours and conferences. CIOMajlis also promotes its members’ digital success and roles as a critical business enabler by spotlighting their successes and achievements through the conduct of media interviews, white papers, and case studies.

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