Dubai International Financial Centre (DIFC) has partnered with Mizuho Financial Group to help Japanese startups grow overseas.

Under the deal, up to 6,000 of the group’s startup clients can access DIFC’s innovation ecosystem.

As part of this, startups will receive help with market entry and initial set-up through the DIFC Innovation Hub.

In addition, eligible firms can join Ignyte, the centre’s digital platform, based on their business needs.

Through Ignyte, they can meet investors and corporate partners, find mentors and take part in growth programmes.

For its part, Mizuho has provided around JPY 1 trillion (approximately US$6.3 billion) in financing to Japanese startups over the past three years. It also has a team of more than 400 experts who work with them.

“DIFC has a longstanding reputation for driving the financial services agenda between the UAE and Japan,”

said Arif Amiri, CEO at DIFC Authority.

“At Mizuho, we believe that startups are a driving force behind future economic growth and innovation,”

said Masahiko Ejima, Regional Head for Middle East, Africa, Turkey & Central Asia Caucasus at Mizuho.

According to DIFC, its Innovation Hub is home to more than 1,300 active technology and innovation firms. These work in fields such as fintech, AI and Web3.

The centre also hosts 19 Japanese firms with a total of 560 staff. Among them are Mizuho Bank, SMBC, MUFG Bank and Nomura.

On the regulatory side, the Dubai Financial Services Authority, which oversees DIFC, signed a cooperation framework with Japan’s Financial Services Agency in 2018.

Featured image: Edited by Fintech News UAE, based on image by the Government of Dubai via its website.