The Mohammed Bin Rashid Innovation Fund (MBRIF) has signed a memorandum of understanding with the Dubai Future District Fund (DFDF) to improve growth opportunities for high-potential startups in the UAE.
The partnership introduces a two-way referral system. MBRIF members may be screened for introductions to DFDF’s fund manager network, giving them a potential route to institutional capital as they grow. Eligible DFDF portfolio companies will be referred to MBRIF for access to its programmes, support instruments and federal channels.
The referrals do not represent an investment commitment from DFDF or any fund manager in its network.
Launched in 2016 and operated by Emirates Development Bank, MBRIF offers a government-backed guarantee scheme that helps members access funding without giving up equity, alongside an accelerator programme.
DFDF is a seed-to-growth venture fund seeded with AED 1 billion in January 2020. It invests in startups focused on the future of finance and future economies.
According to the announcement, the agreement is intended to strengthen coordination between federal and Dubai-level startup support institutions. Fatima Yousif Alnaqbi, the Ministry of Finance’s representative at MBRIF, said the partnership would support a more integrated national innovation ecosystem. DFDF Managing Director Nader Albastaki said it would create a more direct route between federal and Dubai-level resources.
Source: Gulf Economist
