The UAE has solidified its presence as a leading technology hub for startups in the region, accounting for an average of 60% of total MENA annual investments as well as 40% of the region’s top exits. Not only that, the UAE is also ranked 16th globally in the World Bank’s ‘Ease of Doing Business’ report.
The UAE’s capital city Abu Dhabi will be the landing ground for Flat6labs' leading seed program. ‘Flat6Labs Ignite’ will aim to foster innovation in the UAE, the region and the globe with technology and entrepreneurship as the central themes.
What to know before applying?
Once you are selected to join the Flat6Labs Ignite Program, you receive cash-funding ($100k- 150k), strategic mentorship, office-space, entrepreneurship-focused business training, subject matter one to one sessions and a multitude of perks and services from our partners. Select startups are eligible for follow-on funding ($200k-500k).
Flat6Labs Ignite's selection process includes initial interviews, a selection bootcamp followed by an investment commitee.
The 4-months cycle program offers a range of content in the form of training and coaching sessions, mentor-matching, networking events for an overall tailored program that fits the needs of each startup and supports the companies in getting to market in Abu Dhabi and the UAE.
The program starts on July 1, 2021 and ends on November 30, 2021.
Some pointers you should keep in mind:
- Your startup must be registered as a private company.
- You must have at least an existing MVP of the solution with promising results from initial and existing pilots, preferable if revenue generating.
- One or more founders must be available in Abu Dhabi for at least the duration of the program (Unless the program is run virtually).
- You must be committed to establish a long term presence in Abu Dhabi.
- You must demonstrate a clear need for investments and use of funds.
- Investment in IP residing entities, not a branch/subsidiary.
- Agreement on investment terms.
- Founders need to be fluent in English.
Check out Flat6Labs' website to learn more about the Flat6Labs Ignite program.
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