Dubai: Dubai Silicon Oasis Authority (DSOA), which aims to facilitate solutions to create a “smart” city, launched Dubai Smart City Accelerator at Dubai Technology Entrepreneur Centre (Dtec) on Wednesday.
The Dubai Smart City Accelerator, which is the first of its kind in the Mena region, was set-up with Dh18.4 million investment from six strategic partners which include the Emirates Integrated Telecommunications Company, du, Smart Dubai Office, SDO, and the Dubai Chamber of Commerce and Industry, Dubai Chamber. Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and CEO of Emirates airline and Group, in his capacity as Chairman of Dubai Silicon Oasis Authority (DSOA), not only inaugurated the largest hub in the Middle East but also the accelerator’s portal to enable interested start-ups and entrepreneurs to apply for the programme.
The Dubai Smart City Accelerator, to be operated by Startupbootcamp, is to be run over a period of three years with a total of 40 start-ups, those accepted into the programme will receive Startupbootcamp acceleration package benefits including office space, consultation and advisory support, as well as access to organisations and $20,000 (Dh73,400) in cash — all for a 6 per cent equity stake in the venture.
Once completed, the start-ups will join Startupbootcamp’s global alumni network consisting of some 400 enterprises from more than 50 countries worldwide.
The agreement was signed by Dr Mohammad Al Zarouni, Vice-Chairman and CEO of DSOA; Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry; Osman Sultan CEO du; Younus Al Nasser, Assistant Director General of the Smart Dubai Office; Kamran Seddiqi, Visa Group Executive for Central and Eastern Europe, Middle East and Africa; Luc Serviant, Senior Vice President, Middle East & Africa, Orange Business Services; Dr James H. Watters, Senior Vice President of Finance and Treasurer at RIT New York and RIT Dubai board member; and Carsten Kolbek, CEO and Founder of Startupbootcamp.
The accelerator programme is targeting start-ups that are developing innovative solutions to help make cities smarter and overcome significant challenges due to congestion, waste, and energy.