in5 Makes Big Strides in 2023: Dubai Incubator Sees Surge in Funding and Startup Growth.

TECOM Group PJSC’s in5 incubator, a testament to Dubai’s thriving entrepreneurial scene and investor confidence, reported impressive growth in 2023. Startups incubated by in5 raised a remarkable 25% more in funding compared to the previous year, reaching a total of AED 3 billion.

This surge, announced during the Step Conference 2024 held in Dubai, reflects growing global interest in Dubai’s homegrown businesses. It’s also a strong signal of the success of government initiatives aimed at solidifying Dubai’s position as a global innovation hub for high-potential startups.

“Startups are the driving force behind sustainable solutions for future generations,” said Majed Al Suwaidi, Senior Vice President at TECOM Group PJSC, on behalf of in5. “Globally, there’s a growing recognition of the transformative power of startups. Their innovation, resilience, and creativity are reshaping the future economy. in5’s recent achievements demonstrate our commitment to empowering the world’s most enterprising minds. As a key pillar of regional entrepreneurship, in5 will continue to nurture our talented startups and provide them with the resources they need to achieve their goals, aligning with the Dubai Economic Agenda ‘D33’.”

in5 Fostering a Vibrant Entrepreneurial Ecosystem

in5 prioritizes fostering a dynamic entrepreneurial environment that fuels the local, regional, and global economy. They achieve this through four specialized verticals dedicated to technology, media, design, and science sectors.

Steady Growth Across All Verticals

Since its inception, in5 has incubated nearly 900 startups, actively supporting Dubai’s vision of nurturing homegrown innovation. The technology sector has seen particularly strong growth, with in5 Tech – the incubator’s Dubai Internet City-based tech vertical – experiencing a 13% year-over-year increase in active startups, reaching 270 in 2023.

in5 Media and in5 Design, located at TECOM Group’s Dubai Production City and Dubai Design District (d3) respectively, also continued to provide unwavering support to entrepreneurs throughout the year. To mark its 10th anniversary in June 2023, in5 launched a new science-focused vertical in collaboration with Dubai Science Park, a thriving hub for life, energy, and environmental sciences. in5 Science is committed to facilitating entrepreneurship and investment for science-based startups, aligning with key initiatives such as the Dubai Economic Agenda ‘D33’, the Road to Net Zero by 2050, We the UAE 2031, and the National Food Security Strategy.

Building the Future

in5 showcased 10 of its most innovative startups at Step Conference 2024. These included cloud-based business process management platform BitAffix, sustainable oil and gas procurement platform ReflowX, online thought leadership service Writefully, e-learning provider Arabiatee, and proptech ecosystem Estaie. As TECOM Group’s diverse ecosystem fosters collaboration across disciplines, the incubator is also hosting startups from Luxembourg and Poland following Dubai Internet City’s recent memorandums of understanding with the Luxembourg Trade and Investment Office and the Polish Investment and Trade Agency.

in5 Partners with Dubai Holding to Drive Sustainability

As a regional leader in fostering entrepreneurship with global impact, in5 is the Execution Partner for Dubai Holding’s ‘Innovate for Tomorrow Challenge.’ This challenge aims to address critical sustainability challenges in the UAE.

“Sustainability is at the core of our operations, and the Innovate for Tomorrow Challenge offers an inclusive platform focused on driving more sustainable consumption and production practices here in the UAE,” said Huda Buhumaid, Chief Impact Officer at Dubai Holding. “We are proud to partner with TECOM Group’s in5 incubator to cultivate a brighter future for all by attracting global innovators to implement scalable solutions.”

The winner and runner-up of the Innovate for Tomorrow Challenge will receive a comprehensive prize package, including access to in5’s supportive environment, valuable resources, mentorship opportunities, and a cash prize. The winning startup will have the exclusive opportunity to implement their solution through a four-month pilot program at Dubai Holding. Applications are open until March 31st.

in5: A Launchpad for Success Stories

Founded in 2013 with the mission of nurturing homegrown talent to address global challenges, in5 has a remarkable track record of success. Their alumni include breakout stars like buy-now-pay-later platform Tabby (now a unicorn), Detectiome (creators of the AI-powered multicancer early detection test ‘Revonco’), and regional