This New Startup Accelerator In Dubai Is Looking For Construction And Transport Problem-Solvers- Valutrics

Techstars, the international startup network, has joined hands with MENA contracting firm, GINCO, to unveil an accelerator program in Dubai.

Startups which are trying to solve challenges in transportation, construction, wellness, Internet of Things (IoT), robotics and beyond can apply.

With the accelerator, Techstars aims to build on its presence in MENA. It has already conducted over 500 startup events in the region.

GINCO is a full service general contracting firm, covering the full lifecycle of the construction process from concept to execution and supervision. GINCO works with the best known brands in the Middle East, including Dubai Municipality, Emaar, Dubai Properties, WASL, and Nakheel, among others.

They’ve also recently launched its investment division which aims to support the local SME community.

Applications will open in July and ten applicants will be accepted in the first year of the program, which will start in January 2018.

The startups that are selected will be required to relocate to Dubai for the 13-week program. Once a startup is selected, it will be offered a convertible note worth $100,000 along with $20,000 in exchange for a 6% common stock.

The incubator will also provide office space, a direct connection with Techstars’ network as well as mentoring by Techstar and GINCO business leaders.

Founded in 2006 by David Cohen, Brad Feld, David Brown, and Jared Polis, Techstars is a worldwide network that helps entrepreneurs succeed.

Using the network, startup founders can connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders and corporate partners who will help their companies grow.

Since 2011, over 500 entrepreneurs have participated in Techstars Startup Weekend Dubai and the company is excited to expand its presence in the Middle East with our mentorship-driven accelerator program, it said in a statement.

The new accelerator will join a growing startup landscape with new incubators and initiatives popping up in the UAE.

Recently, Dubai Silicon Oasis Authority (DSOA) launched Dubai Smart City Accelerator at Dubai Technology Entrepreneur Centre (DTEC).

The accelerator program is targeting startups that are developing innovative solutions to help make cities smarter and overcome significant challenges due to congestion, waste and energy.

The incubator is set up with Dhs18.4 million investment from six strategic partners.

The partners include Emirates Integrated Telecommunications Company, du, Smart Dubai Office, SDO, Dubai Chamber and Dubai Chamber of Commerce and Industry.

The Dubai Smart City Accelerator will be operated by Startupbootcamp.