Dubai International Financial Center, also known as DIFC, has launched what it claims is the world’s first venture studio platform exclusively focused on ubiquitous finance and digital asset technologies.
Over the next 5 years, over 20 studios will be set up in the DIFC, aiming to launch over 200 new ventures, of which over 100 will be scale-ups and 10 will gain unicorn status.
The platform, named the Studio Launchpad, will be supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.
It is designed to attract and engage a consortium of leading starup and corporate venture studios.
“The first global Venture Studio Launchpad is a core pillar of our vision to put DIFC at the center of the digital transformation of the financial sector in the UAE and globally,” said Essa Kazim, governor of DIFC.
He added: “DIFC is building an ecosystem from the ground-up that will support studios and founders with everything they need to be successful, and reimagine virtually every aspect of the financial services value chain, to help realize Dubai’s ambitions for the digital era.”
