DIFC is where a startup owner can pick up an Innovation License, which start from $1,500 a year. Image Credit: Gulf News Archives

Dubai: A new licensing scheme has been launched by DIFC for startups, entrepreneurs and tech firms. The ‘Innovation License’ is to attract new types of businesses to DIFC and a key initiative for the Dubai Future District, launched in January.

The licenses come with subsidised commercial licensing options, starting at $1,500 per year. Innovation License holders will join the already 200+ technology firms in the region’s largest financial free zone with over 2,500 firms and 25,000 plus professionals.

“It is an offering that we hope will attract technology-led, sector agnostic start-ups that will disrupt the technology and financial sectors,” said Salmaan Jaffery, Chief Business Development Officer, DIFC Authority. "These types of businesses have an important role in shaping the economic future of Dubai, UAE and the region.”

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