ModelMe3D Nabs a $250,000 Krypto Startup Prize in Abu Dhabi

ModelMe3D, a modelling platform that allows users to click on buildings, surfaces and markers to learn more about their surroundings, has just nabbed the first prize at the inaugural Krypto Startup Contest in Abu Dhabi, taking home a $250,000 package of funding and mentoring support to incubate the groundbreaking startup. The Netherlands-based startup pitched its business to a panel of international judges and an audience of more than 200 people, marking the inauguration of Krypto Labs, an all-in-one business incubator, accelerator and co-working space in Masdar City, Abu Dhabi.

“Our search for exceptional innovators looking to change the world has allowed us to connect with thousands of start-ups from across the globe in recent months. Innovation is thriving around the world and in our region and we aim to help it progress even faster. The ModelMe3d team impressed us with the clarity and ambition of their idea, which Krypto Labs will now help to make a reality,” said Krypto Labs' Managing Director Saleh Al Hashemi.

The startup was one of three finalists, alongside USA-based The Difference, company that has designed a heelless shoe to enhance forefront landing and potentially cure the chronic pain of millions of athletes, and ToonYou, a Belgium-based start-up that creates animation series for kids that families can customise with their own pictures. The finalists were chosen from 2,000 applications from entrepreneurs and start-ups representing 75 countries around the world, including Silicon Valley, India, China, and from some of the best business schools in the world such as MIT, INSEAD and LBS. 

Krypto Labs will look to support startups from any industry anywhere in the world, incubating companies virtually as well as on location. Offering its co-working space as well as  legal advice, networking channels to industry leaders, access to venture capitalists and other investors, and guidance on registering their company with the Masdar Free Zone, the new incubator will accept applications for funding of companies in various stages of development, in return for a negotiated investment in the projects.

Find out more on Krypto Labs' website. 

Main photo: Courtesy of Krypto Labs.