In April 2017, the DIFC announced its initiative to accelerate the growth of Financial Technology in the region. Arif Amiri, Chief Executive Officer at DIFC commented: 'FinTech Hive at DIFC will connect innovators in financial services technology with the banks, financial institutions and service providers within our dynamic ecosystem at DIFC'. The plan is for ten participating developers to present their products to venture capitalists. According to "FinTech Middle East", DIFC FinTech Hive has played a significant role in the emerging financial technology market in the United Arab Emirates. Among the new players of the emerging market, the source noted "Bridg", Democrance, "Beehive" and more.