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Tue 18 Aug 2020 05:07 PM

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DIFC launches new licence for start-ups, entrepreneurs and tech firms

'Innovation Licence', which offers subsidised commercial licensing options, starts at $1,500 per year

DIFC launches new licence for start-ups, entrepreneurs and tech firms

Businesses will gain access to DIFC co-working space at attractive rates, while innovation firms can secure up to four visas when renting desk space as well as a 50 percent subsidy on additional visas.

Dubai International Financial Centre (DIFC) has launched a new ‘Innovation Licence’ to boost creativity and entrepreneurship.

The licence, for start-ups, entrepreneurs and technology firms, is aimed at attracting new types of businesses to the emirate’s financial hub and offers subsidised commercial licensing options, starting at $1,500 per year.

Salmaan Jaffery, chief business development officer, DIFC Authority, said: “The new DIFC Innovation Licence provides an important springboard for future economy pioneers to establish, upscale and future proof their business within the stable framework of a world leading global financial centre.”

Businesses will gain access to DIFC co-working space at attractive rates, while innovation firms can secure up to four visas when renting desk space as well as a 50 percent subsidy on additional visas.

“It is an exciting new offering that we hope will attract technology-led, sector agnostic start-ups that will disrupt the technology and financial sectors. These types of businesses have an important role in shaping the economic future of Dubai, UAE and the region,” added Jaffery.

Innovation Licence holders will join the already 200+ technology firms in the region’s largest financial freezone, which hosts over 2,500 firms and more than 25,000 professionals.

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