DIFC and Start-Up Nation Central to build innovation ties between the UAE and Israel

The Dubai International Financial Centre (DIFC), and Start-Up Nation Central, signed an agreement to build new innovation business bridges between the UAE and Israel.

The parties agreed to facilitate introductions and mutual recommendations of companies interested in expanding their activities in each other’s jurisdictions as part of the agreement. This includes initiatives such as regulatory sandboxes and accelerators that assist innovators in gaining market access.

Arif Amiri, CEO of DIFC Authority, said: “We have an opportunity to strengthen commercial relations between the UAE and Israel, especially in the FinTech sector. As the region’s hub for financial services, FinTech and innovation, DIFC is well regarded for promoting and nurturing innovative and disruptive enterprises that have the potential to be the next unicorns from the region.”

He added, “Our partnership with Start-up Nation Central will enable us to foster a culture of collaboration among entrepreneurs and innovators in both nations and further build a vibrant ecosystem to advance the FinTech sector.”

Avi Hasson, CEO of Start-Up Nation Central, said:“DIFC is a strategic partner when it comes to innovative technologies in general and FinTech in particular. We see great importance in fostering the relationship with DIFC as a central ally in the UAE and a strategic avenue aiding the development of the two ecosystems.”

He also commented, “Following the anniversary of the Abraham Accords, we see this agreement as a manifestation of the innovation diplomacy efforts taking place in the region. We believe it will be an excellent platform for future collaborations, transforming the lofty ideas set out by the states’ leaders into on-the-ground results.”

Start-Up Nation Central VP of Strategic Partnerships Eliran Elimelech and DIFC Chief Business Development Officer Salmaan Jaffery signed the agreement and pledged to work together to promote commercial agreements that benefit both countries, particularly in the fields of FinTech and digital security, during a ceremony held at DIFC.

The DIFC Innovation Hub, offers the region’s most complete FinTech and venture capital environments, as well as unique accelerator programmes at FinTech Hive, which connect start-ups to UAE, regional, and global markets. DIFC is home to more than 60% of all FinTech and innovation companies in the GCC. Israel is a global pioneer in creative FinTech solutions, with over 530 start-ups disrupting the traditional banking, finance, and insurance industries using advanced technologies such as data science, biometrics, blockchain, and cyber.

Start-Up Nation Central representatives are now in Dubai for the annual GITEX technology conference and tradeshow. They’ll be there with a group of 30 Israeli entrepreneurs and investors from the UAE-IL Tech Zone, a community of innovators from both nations supported by Start-Up Nation Central.