Turn8 turns on start-up roadshow Idea marathon at DP World headquarters Dubai, UAE, 21 May 2013: The first event for entrepreneurs to pitch their ideas in a mission to bring them to market has kicked off in Dubai. Seventeen teams attended the event at DP World headquarters in Jebel Ali as part of the Turn8 seed accelerator programme designed to encourage innovative entrepreneurship worldwide. The all-day “Innovathon” saw each team present to a panel of experts who selected five projects to take forward to the next stage with another four identified for further discussion and possible modification. Their ideas ranged from an online peer-to-peer rental marketplace where borrowers can rent every-day items from washing machines to bicycles, to a web-based software that helps small and medium sized enterprises (SMEs) with procurement across their supply chain. A mobile app for the ultimate dining experience, an education portal for young people and a GPS based navigation system for use inside buildings were other projects that also made it through. The panel also praised a social platform for teenagers under 18 brought to the event by 14 year old Subhana Anwar Jakartawala. Countries identified with active start-up cultures such as Egypt, Turkey, Belarus, the Ukraine, and USA are being targeted over the next 12 months. Once the roadshow is complete, a shortlist of 10 projects will be selected for entry into the final stage of the programme with funding, mentoring and training provided in exchange for a stake in any resulting business. Yousif Al Mutawa, Chief Information Officer, DP World, said: “The event demonstrated a high level of innovation from all the teams and selection of those to go on to the next round was very close. We were encouraged by the range of ideas presented and the energy and enthusiasm from the entrants. We are looking forward to seeing other teams in the different locations we are soon to visit.” Kamal Hassan, Founder and CEO of Innovation 360, a leading UAE innovation management consultancy and DP World’s partner in the initiative said: “All entrants brought good ideas to the table. Their strength of conviction and belief in their concepts was immediately apparent to all of us and we were delighted to make such a good start to the programme.” Proposed ideas can be in a variety of sectors including travel, trade, supply chain management, shipping, transport and logistics, logistics security, safety, sustainability and the environment. Those with winning proposals will be invited to the TURN8 seed accelerator in Dubai, where they will be provided with workspace and professional mentoring for four months to develop their business model and prototype. Up to USD $24,000 funding per team is available to help them evolve their ideas from conception to commercialisation.
Posted on: Thu, 06 Jun 2013 16:45:59 +0000
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