Dubai-based GINCO Investments has announced the launch of a new accelerators programme for start-ups in partnership with entrepreneurial network TechStars.
The Techstars Dubai Accelerator will host 10 start-ups a year for a three month programme at the Area 2071 hub area in Emirates Towers.
The accelerator programme is designed to help start-ups rapidly grow in partnership with companies including Uber, Digital Ocean and Sphero.
Applications have already closed but later entrants are encouraged to contact programme director Ramzy Ismail at email@example.com for consideration.
The 10 start-ups selected for the programme will be hosted in Dubai from January 21, 2018 with aa $20,000 stipend to support their living expenses.
GINCO Investments, which is part of family business the GINCO group of companies founded by Gheyath Mohammed Gheyath in 1974, will also provide $100,000 in seed funding and “400 perks worth $1m from ecosystem partners”.
Following the programme, the 10 companies will then be hosted for a demo day on April 18.
“We are thrilled to partner with the prestigious accelerator programme, Techstars, to bring the Dubai Accelerator to the region for the first time,” said Gheyath.
“We look forward to contributing to the future success of the country and the extraordinary journey of this nation as we cultivate businesses that can take technological innovation to the next level.”
Dubai is now home to several start-up accelerators including the government-linked Dubai Future Accelerators programme designed to help address key challenges faced by departments.
Last week, Emirates Airline announced it would establish an experimental aviation lab at Area 2071 to create new technologies, run experiments and develop prototypes for the aviation sector.