Dubai International Financial Center (DIFC has launched the world’s first venture capital studio platform exclusively focused on ubiquitous finance and digital asset technologies. The initiative is a key part of DIFC’s efforts to achieve the goals of its 2030 strategy attracting the best minds and companies from around the world to Dubai by providing them with all the necessary support to develop, test and launch new start-ups, scale-ups and companies at scale, time to market and quality unprecedented.
The dedicated unit called The Studio Launchpad streamlines the business creation process and accelerates the development of new ventures that will support DIFC’s rapidly developing “Ubiquitous Finance” ecosystem. The Launchpad also supports fundraising and scaling new ventures by providing resident venture capital studio operators with access to a global network of potential clients, entrepreneurs, investors and developers. subject matter experts, all backed by a progressive regulatory environment and world-class infrastructure.
Backed by an international group of venture capital experts, digital asset pioneers and emerging technology strategists, Studio Launchpad is designed to attract and engage a consortium of startups and venture capital studios. The effort leverages DIFC’s unique ecosystem to enable collaboration and co-creation between venture capital studios, corporations, entrepreneurs, investors, and academic partners around the world.
Through this initiative, Dubai will become the main hub for business construction in MEASA and join cities like San Francisco, New York, Berlin and Paris. Over the next 5 years, over 20 studios will move into the DIFC and are expected to launch over 200 new ventures, of which over 100 will be scale-ups and 10 will achieve unicorn status. Together, they are expected to create over 8,000 innovation jobs in Dubai and attract over AED 2 billion in venture capital.
Part of the Launchpad offering will be a one-of-a-kind research living lab that will stimulate thought leadership and hands-on research in this rapidly changing space with the aim of unlocking new opportunities and generating data and insights that can inform how to shape existing and future business models, laws and regulations.
The “Ubiquitous Finance” innovation ecosystem and Studio Launchpad were developed by DIFC in partnership with Dubai-based venture capital studio Enhance Ventures and Silicon Foundry.
The studio model is a perfect fit for the Middle East due to its proactiveness and ability to support founders in the early days of operations. DIFC is the best place for the model to strive in the region as it is the largest cluster of leading financial institutions and fintech and innovation companies. It offers the perfect combination of talent, quality infrastructure, a strong regulatory offering and funding.