Successful Demo Day for Techstars Dubai Accelerator in Partnership With GINCO
Packed Demo Day was held at Park Hyatt Dubai in presence of HE Sultan Al Olama, UAE Minister of Artificial Intelligence and HE Khalfan Belhoul, CEO of Dubai Future Foundation
9 companies received over 3.7M AED in funding prior to Demo Day
Next round of applications to begin in July 2018
April 17 2018, Dubai, UAE: At this year’s Demo Day, nine teams from Techstars Dubai Accelerator in partnership with GINCO Investments presented their innovative ideas to a full crowd of 350 investors, community enthusiasts and industry experts at the Park Hyatt Dubai on the 17th of April 2018.
The highly anticipated Demo Day marked the end of the first Dubai program, which was focused on enterprise and industrial technologies and innovations in the fields of construction, artificial intelligence, machine learning, battery technology, and autonomous drones. The pitch event followed 13 weeks of mentoring and coaching by industry leaders at the creative ecosystem space, Area 2071, which was powered by GINCO Investments, the venture investments and innovation arm of the GINCO Group of Companies.
Following the inaugural program, Techstars will begin accepting a new round of applications for their second Dubai program, which will start off with a Roadshow conducted throughout the summer months, to meet with startups throughout the cities of Beirut, Berlin, Seoul, DC, NY, and others to be announced.
“We were extremely pleased with the quality and turnout for our Dubai Demo Day. The energy of our nine companies, coupled with their strong business pitches and eager interest from our guests was extremely encouraging as we conclude our debut program,” said Managing Director Vijay Tirathrai.
“The common thread between all companies in the accelerator are strong technical founders, solving local business needs with global applications. We look forward to continuing to support our first cohort beyond demo day as they get to their next milestones with support of the Techstars network” said Program Director, Ramzy Ismail.
“Based off the success of Demo Day, we are eagerly anticipating the next round of applicants, as we look forward to continuing our journey of supporting and cultivating businesses that can take technological innovation to the next level and contribute to the MENA startup ecosystem,” concluded Mr. Gheyath Mohammad Gheyath, Chairman of GINCO Group of Companies
The startups on demo day are targeting to raise $20M in aggregate capital and launch or expand their businesses across several markets including NY, Montreal, Tallinn, Lagos, and Dubai.