TURN8, the successful seed accelerator initiative founded by DP World that encourages entrepreneurship and innovation has selected nine new startups for investment as part of round five of its programme
Some 23 startup companies at a market value of US $30 million have been established since the beginning of Turn8. The latest round follows a selection process to identify startups that have a promising business concept and who have had some experience testing the market.
The international reach covers global markets with participants from the UAE (Dubai), Spain, Russia and Chile, the first South American startup applicant.
Yousif Al-Mutawa, Chief Information Officer at DP World, said: “This latest round reinforces the international flavor of the programme and proves that innovation is a global phenomenon. We are delighted to welcome the new applicants to Dubai, which once again is demonstrating its commitment to innovation in line with the vision of our leaders. DP World continues to take an active interest in establishing a culture of innovation in the UAE and Turn8 is a premier example of that effort.”
Teams have already been flown down to Dubai and will soon begin the four-month mentorship programme to refine their business idea and gain practical training on how to run a successful enterprise backed by seed funding of US $30,000 to help them develop their projects.
The start-up companies that were chosen for TURN8 round five are:
•SaveSpace (Dubai) – Offers local pick up/drop off of boxes to customers for storing their belongings.
•MedicSen (Spain) – A system designed for the intelligent and integrated treatment of insulin dependent diabetes mellitus.
•FairFare (Kazakhstan) – Helps service consumers in uncovering concealed prices by means of peer-to-peer information sharing.
•Mytriphoto (Chile) – Allows hotels to reach potential customers organically, improve online reputation and promote new sales with self-service photography
•Rewardial (Romania) – A blogging outreach and user engagement platform
•RealEye (Russia) – A mobile app that enables users to create their own route maps in cities between sites.
•MakersBuilders (Dubai) – The first educational institute of its kind in the Middle East, aiming to become the leading provider of technology education for children and teenagers.
•Foodiac (Finland) – A marketplace for private chefs and high-end catering.
•909Music (Dubai) – An online music library dedicated to licensing, producing and providing modern day, cutting-edge, quality rich music for media and avid music listeners worldwide.
TURN8 is a technology startup accelerator launched by DP World in 2013 to encourage innovation and entrepreneurship globally. Teams are selected from dozens of hopefuls that pitch their ideas at TURN8 events and via an online application.