TURN8.co, an early stage seed accelerator founded by DP World, has selected 10 new startups for investment as part of Round 3 of its program. The startups are currently in residence at The Cribb in Dubai, where they are receiving business mentorship and training as well as $30,000 per company in services and seed capital. They also have access to subject matter experts and a dedicated in-house technology development team.
Launched last year, TURN8 has since introduced more than a dozen new businesses, including the award-winning Kintrans, which will represent Dubai in the Seedstars World Final Competition in Geneva, Switzerland next February.
As was the case with previous rounds, the Round 3 companies were selected from pitching events in several countries as well as an online idea submission platform. The founders of Round 3 hail from the UAE, Morocco, Sri Lanka, Indonesia and Georgia.
The founders bring varied experience, from entrepreneurs as young as 18 to Ivy League graduates, and an interesting mix of business ideas, from hardware innovations and mobile apps to a logistics platform and an educational kit. Each one hopes to make a mark on the entrepreneurial community in Dubai and beyond.
Mohamed Hamdy, Managing Director of TURN8, said: “This third round of the accelerator represents a very diverse group of entrepreneurs working on start ups that cover several industries. The focus of the startups range from financial services to e-commerce to messaging to hardware. We are also focused on playing a leading role, by starting a few initiatives, that we feel will contribute to the startup ecosystem here in Dubai and in the region. The strong backing from DP World and continuous involvement in the ecosystem shows our commitment and the sustainability of our business and operation.”