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Techstars Opens Up Its First MENA Accelerator in Dubai

The first in the region, the powerful accelerator programme will be held by Ginco at Dubai's Area 2071, offering Middle Eastern startups the chance to join a 5000-strong network of entrepreneurs who collectively raised over $4 Billion in investment.

In line with its “UAE Centennial Plan 2071,” Dubai-based Ginco Investments has just announced the hosting of the MENA region’s first Techstars accelerator programme, which will be held at Area 2071 in the city's Emirate Towers. The programme sets off to host 10 startups per year, who will get the change to rapidly scale their businesses in a three-month incubation period kick-starting in January 2018. The startups will join a group of leading entrepreneurs, joining the ranks of mammoth Techstars companies the likes of Uber, Digital Ocean, and Sphero.

The announcement was made last week at Emirates Towers, as part of the Partners of The Future event hosted by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Ginco Investments - the venture arm of the Ginco Group, founded by Gheyath Mohammed Gheyath - focuses on creating opportunities for entrepreneurs through its programming initiatives as well as investing directly in early-stage technology companies around the world.

“We are proud to support the UAE Centennial Plan 2071 and feel that Area 2071 is the perfect destination to host our accelerator. The nurturing environment created within this dynamic space will be vital to the success of the companies who will pass through its doors. We anticipate immense success for the program and each of the startups and would like to thank His Highness Sheikh Mohammed bin Rashid Al Maktoum for his vision and patronage," Gheyath said.

Area 2071 - named after the UAE Centennial Plan 2071, marking 100 years since the formation of the United Arab Emirates, seeks to invest in the youth of the UAE  and to work for UAE to be the best nation in the world by 2071. “We are proud to announce that the Techstars Dubai Accelerator in Partnership with GINCO will be hosted at Area 2071. The space is the nucleus of government and private sector thought, where innovative companies converge to design a greater future for the world and more specifically, the cities within the world who are driving progress and pioneering productivity," said Abdulaziz Al Jaziri, Director of Area 2071.

Having recently closed the application process, the programme will soon announce the 10 global finalists which are challenging existing assumptions and creating new economic models to advance cities of the future. Each applicant will be relocated to Dubai where they can opt to receive a $20,000 stipend to support their living expenses throughout the programme’s duration in addition to $100,000 in seed funding from Ginco Investments and over 400 perks worth $1 million from ecosystem partners. Companies will benefit from Area 2071’s strategic location at Emirates Towers with direct access to government entities and other unique business services. 

The selected companies will be announced shortly and the programme, but late applicants can still send their applications directly to the program Director, Ramzy Ismail, at  ramzy.ismail@techstars.com for consideration.

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