SC Ventures, the innovation and venture arm of Standard Chartered, based in Singapore, has partnered with the Dubai International Financial Centre (DIFC) Innovation Hub to establish the National Venture Studio in Dubai. This initiative is designed to foster innovation and support venture creation in the region as the UAE enhances its position as a global hub for innovation and digital transformation.

The National Venture Studio aims to facilitate local ventures, promote economic diversification, and attract skilled talent. Under the partnership agreement, SC Ventures will implement its venture building as a service (VBaaS) model, providing the DIFC Innovation Hub with essential tools, expertise, and frameworks necessary to manage and develop the studio. This comprehensive VBaaS model encompasses the entire startup process, from identifying market needs and testing ideas to prototyping, recruiting founders, and scaling operations.

Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, stated that this partnership underscores their commitment to encouraging entrepreneurship and innovation in the UAE. He emphasized that by launching the National Venture Studio through SC Ventures’ established VBaaS model, local innovators will gain access to essential tools and expertise for creating impactful, technology-enabled solutions. Gautam Jain, an Operating Member at SC Ventures, highlighted the 20-year legacy of DIFC in supporting innovation and expressed pride in empowering the hub to launch the National Venture Studio using their proven frameworks and capabilities.

The National Venture Studio plans to collaborate with various stakeholders, including entrepreneurs, corporations, and government entities. Clients may be sourced via DIFC referrals or through collaborative outreach efforts. Additionally, the partnership will facilitate joint events, research, and capability-building programs that align with the region’s innovation strategies.

A scene from the partnership signing ceremony between DIFC and SC Ventures is featured in the lead image.