DRONELIFE

Seeking Investments, Krypto Labs Drone Contest Kicks Off: $500,000 for the Most Innovative Tech Startup

Abu Dhabi arguably has a lot to offer entrepreneurs, and the state of the art facilities at Krypto Labs are certainly impressive.  But for drone startups, the $500,000 funding prize offered by the business incubator can be won by companies operating anywhere in the world.

Krypto Labs is “an all-in-one business incubator, accelerator and co-working space for start-ups and individuals from anywhere in the world who want to innovate and develop revolutionary products and services across any industry,” says the company.  “We are based in the sustainable eco-development Masdar City, in Abu Dhabi, United Arab Emirates, and our flourishing entrepreneurial network spans across the globe.”

Reprinted with permission from the Krypto Labs announcement: 

The Krypto Labs incubator program is carefully designed to support new ideas and established start-ups with vital assistance, including mentorship, funding, networking and other support services to allow innovators to concentrate on their core competencies. We run two intakes per year, lasting five months each, and culminating in a Demo day.  Selected start-ups will receive funding in return for a negotiated stake in their company.

Abu Dhabi based Krypto Labs, the global incubator with a unique system for ground-breaking startups, announced today that world-wide registration for the Drone Innovation Startup contest is open to start-ups and innovators from around the world, whom are interested in drone technology.

DISC 2018 is Krypto Labs’ new global contest for disruptive drone technologies to recognize the top innovators who contribute to redefine the conventional wisdom around aerial mobility and its entrepreneurial potential. On April 12, submissions will be reviewed by the Krypto Labs team who will select the shortlisted entries, and five finalists will be selected and invited to pitch to the Final Day Jury at the final event that will be held in Abu Dhabi on May 6.

A judging panel consisting of industry experts, prominent innovators, and business will decide the winner of the USD 500,000 investment.

The incubator is focused on discovering and nurturing the most innovative ideas across the UAE, MENA region and the world. Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, said: “From our state-of-the art hub in Abu Dhabi’s Masdar City, we are turning ground-breaking concepts into successful, scalable companies. As a homegrown entrepreneurial ecosystem, we look forward to be a significant enabler for innovation in the UAE and beyond. In this prospect, DISC 2018 is the logical step for us at Krypto Labs, and it stands as the ideal platform for unearthing the best minds in the drone technology and Unmanned Aerial Vehicles (UAV) and Unmanned Aerial Systems (UAS) sector.”

DISC 2018 is Krypto Labs’ new global contest for disruptive drone technologies to recognize the top innovators who contribute to redefine the conventional wisdom around aerial mobility and its entrepreneurial potential. The contest will cover various relevant sectors including aerial photography, transportation and logistics, disaster management, search and rescue operations, terrestrial mapping, building management, law enforcement surveillance, and weather forecasting.

Apart from the $500,000 in funding, the winning start-up will have the opportunity to join the Krypto Labs incubator program and receive professional, training, mentorship and access to Krypto Labs’ world-wide network of experts and specialists.