Dubai Chamber launches 5th cycle of Smartpreneur competition
SOURCE: Khaleej Times
Dubai Startup Hub, an initiative of the Dubai Chamber of Commerce and Industry, has launched the fifth cycle of the Dubai Smartpreneur Competition, which is open to startups offering solutions related to the Expo 2020 Dubai subthemes of Opportunity, Mobility and Sustainability.
A launch ceremony, held at the Dubai Chamber's premises, was attended by Dubai Chamber officials, previous competition winners and contestants, members of the local startup community, and representatives from Expo 2020 Dubai and DP World. Open to all entrepreneurs in the UAE and abroad, the competition gives the opportunity to become part of Dubai Government's strategy to elevate the city into a global platform for innovative startups.
It also falls in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to transform the emirate into one of the world's smartest cities. Startups must submit their entries through the Dubai Startup Hub website by the February 26, 2020 deadline.
Hisham Al Shirawi, second vice chairman of Dubai Chamber, noted that the annual competition been one of the most successful initiatives launched under Dubai Startup Hub to date which has supported Dubai Chamber's comprehensive entrepreneurship strategy of empowering entrepreneurs and providing them with the knowledge and tools they need to thrive and grow. Over 1,600 smart business ideas were submitted over the last four cycles of the competition, he revealed, adding that a surge in the number of international submissions was also observed in recent years, reflecting Dubai's status as a magnet from promising startups.
"Startups are a key source of innovation in Dubai as they bring cutting-edge solutions to the market. By aligning this year's competition with Expo 2020 Dubai, we are creating more opportunities and benefits for participating startups and positioning Dubai as innovation leader," he said.
The launch ceremony featured an informative presentation outlining the criteria for submissions and the main benefits of participating, which include Dh150,000 in cash prizes for the top three winners, a four-day bootcamp for the top 50 startups, and an opportunity for the top 10 startups to exhibit at Expo 2020 Dubai and meet with potential investors and business partners.
Following the submission deadline, entries will be evaluated and shortlisted with the selected candidates then qualifying for the training phase of the competition. At the final stage, the remaining candidates will be trained and guided before the top three winners are announced at an awards ceremony in April 2020.