Dubai: Techstars Dubai Accelerator in Partnership with GINCO continues its momentum as the most prestigious accelerator program in MENA with the announcement of its second class of companies arriving in Dubai from around the world.
Techstars Dubai in Partnership with GINCO is welcoming their second class off the back of a very successful inaugural program. Demo Day 2018 from year one was widely attended by over 400 attendees including VIP guests such as the UAE’s Minister of State for Artificial Intelligence, His Excellency, Omar Sultan Al Olama and the CEO of Dubai Future Foundation, His Excellency, Khalfan Belhoul.
It is worth noting that over a third of companies participating in the program across both classes were founded in or have moved to Dubai and all have done business development in the emirate. Additionally, the companies have collectively raised millions of dollars in venture funding and have been recognized by press around the world as innovators in their respective industries.
“Year one was a great success for Techstars Dubai,” said David Brown, founder and co-CEO at Techstars. “We are excited to continue to expand Techstars’ presence in Dubai, empower more entrepreneurs on their road to success, and further contribute to the UAE Centennial 2071 initiatives through these efforts.”
In their second year, Techstars and GINCO Investments, the investment arm of GINCO Group, will be hosted in the brand new AREA 2071. Area 2071 is a government and private sector experimentation space launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai located in the heart of Dubai government in the prestigious Emirates Towers.
“Part of our mandate to become a global hub for talent, AREA 2071’s partnership with Techstars and GINCO Investments is seen as a testament to our vision to co-design the future for Dubai”, said Abdulaziz Khalid Al Jaziri, Deputy CEO at Dubai Future Foundation,
He further added, “We are proud to host second cohort of Techstars MENA at AREA 2071 for the second year in a row and look forward to welcoming the 10 selected global companies to our space”.
Alongside a global network of support, each startup will be eligible to receive $120,000 as an initial investment along with the lifelong support of Techstars and the Gheyath family. Additionally, the companies will be eligible for over $2 million in perks provided by partners such as Amazon Web Services, SendGrid, Dentons, and others. The companies will join a family of over 1600 Techstars companies who have collectively exceeded $17 Billion in market capitalization.
“After an extensive worldwide recruitment process and a record number of applicants, 10 global companies were diligently chosen to participate in the program for 2019. All 10 selected startups will go through an intensive 13-week acceleration process centered around mentorship, curated workshops and supported by the Techstars ‘power of the network’”, said Vijay Tirathrai, Managing Director of Techstars Dubai
Techstars Dubai will culminate in a Demo Day on April 17th where all program participants will have an opportunity to pitch government officials, investors, startup enthusiasts, and domain experts with the goal of securing strategic partnerships and investment.
“We are excited to welcome the second class of entrepreneurs who chose our program and Dubai to build their business,” said Gheyath Mohammed Gheyath, chairman of the GINCO Group of Companies. “We are particularly proud to be the first global accelerator to welcome an Emirati-led company into our program”.
We’re pleased to share our second class with you and invite you to join Techstars, GINCO Investments, and AREA 2071 in welcoming them to Dubai:
The teams at Techstars, GINCO Investments, and Area 2071 cordially invite interested parties to visit the accelerator in AREA 2071 at Emirates Towers!