DIFC FinTech Hive, the largest financial technology hub in the Middle East, Africa and South Asia (MEASA) region, part of Dubai International Financial Centre (DIFC), has signed a landmark agreement with Israel’s FinTech-Aviv.
FinTech Aviv was established in 2014 and serves the needs of the Israeli FinTech ecosystem and counts more than 6,000 startups and 300 research and development centres as members.
The agreement is the first of its kind for the UAE and Israel, and strengthens DIFC’s position as MEASA’s number one FinTech hub and one of the world’s top 10 FinTech hubs. The agreement announced today will enable DIFC to further support the UAE in facilitating economic growth from the technology and innovation sectors.
Both parties will work together on events, knowledge sharing, talent development and facilitating mutual introductions and referrals for firms keen to expand in each respective jurisdictions.
The agreement follows the signing of the Abraham Accords Peace Agreement: Treaty of Peace, Diplomatic Relations and Full Normalisation between the United Arab Emirates and the State of Israel on 15 September 2020.
Since DIFC’s FinTech Hive launched in January 2017, the hub has grown to become a leading centre of innovation globally. More than 50 per cent of all FinTech businesses in the GCC now operate from DIFC. The first half of 2020 witnessed DIFC FinTech Hive triple in size with the opening of a larger space in Gate Avenue supporting start-ups, scale-ups and entrepreneurs.