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TiE Mumbai and Dubai International Financial Centre (DIFC) Help Indian FinTechs Scale Their Business Across Middle East, Africa and South Asia Region

twitter-logoPTI | June 24, 2019 | Updated 11:53 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) MUMBAI, June 24, 2019/PRNewswire/ -- Over the years, TiE Mumbai has played a significant role in promoting, mentoring, helping and funding startups in this region. TiE Mumbai represents over 2,500 startups in the Greater Mumbai Region. It has successfully connected and mentored over 2,000 entrepreneurs and startups over the last few years; over 1,000 startups have been successfully connected to investors. As a part of its ongoing endeavour to assist startups with new opportunities and help foray into different geographies, TiE Mumbai and Dubai International Financial Centre (DIFC) - the leading financial hub for the Middle East, Africa and South Asia (MEASA) organized a two-day programme to help FinTech startups to scale their business across the region through Dubai. DIFC met with 17 FinTech startups from Mumbai to understand their business models and provide tailored solutions to support their growth in the fast-growing emerging markets. The comprehensive DIFC FinTech ecosystem includes two highly successful accelerator programmes run by DIFC FinTech Hive and Startupbootcamp, a USD 100 million FinTech fund, subsidised licensing options, fit-for-purpose regulation and access to a financial community of over 2,100 regional and global institutions, of which more than 80 are FinTech-related companies. Since the startups were from different parts of the funding spectrum - Bootstrapped, Pre-Series A, & well-funded - Series A & B, each with their own set of requirements, the DIFC team was able to help each firm better understand how best they could utilise the Centre as a platform for growth. "As a part of our global connect program, TiE Mumbai has partnered with DIFC to create an access to knowledge, markets, funds and talent in those regions. These partnerships present excellent growth opportunities for Mumbai startups. Dubai and India have deeply embedded commercial, trade and cultural ties and today this relationship goes from strength to strength," said Atul Nishar, President, TiE Mumbai. Salmaan Jaffery, Chief Business Development Officer, DIFC Authority, commented: "It's a pleasure to be partnering with TiE Mumbai and to engage directly with a number of promising and innovative Indian FinTech firms. Our meetings have allowed us to highlight the opportunities within the MEASA region and the ways in which they can capitalise on these to scale their business. Since our establishment in 2004, we have attracted a number of Indian banks and financial institutions to the DIFC, and in recent years we see similar interest from Indian FinTechs, which account for approximately 10 per cent of our FinTech ecosystem. We expect this number will grow, as demonstrated by the incredibly positive interest we are already witnessing and as we continue to strengthen our ties with the Indian market." About Dubai International Financial Centre 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 USD 7.7 trillion. With a 15-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai. 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 23,000 professionals working across over 2,100 active registered companies - making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance. 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. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations. For further information, please visit our website: https://www.difc.ae/ , or follow us on Twitter: https://twitter.com/difc About TiE The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992, TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE: mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE's focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs. For more details, visit: https://mumbai.tie.org/ Source: The Indus Entrepreneurs (TiE) PWR PWR

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