RAK Incubator And Accelerator Launches At The Startup Weekend Ras Al Khaimah 2017
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'Treps, check out this Emirate bringing in new entrepreneurial opportunities. With more than 100 entrepreneurs from UAE and across the region, the Startup Weekend Ras Al Khaimah 2017 was held at the RAK Incubator And Accelerator, the Emirate’s first incubator. Entrepreneurs participated in a 54 hours challenge (No Talk All Action) to build eight startups, along with a product
At the challenge, three teams emerged as winners- with the first place going to the Green Coin Team, a team under AGAR Development, a Dubai-based company focusing on blockchain, which developed a functioning app and business model during the 54 hours challenge. The second place was awarded to an Emirati team based in Ras Al Khaimah which designed a prototype for a practical mug using IoT to heat coffee, keep the water cold, charge mobile phones, and work through a mobile app.
According to a press statement, the RAK Incubator and Accelerator aims to focus on innovation and technology, with entrepreneurs welcome to register their entities with the Ras Al Khaimah Department of Economic Development and establish a local company, or register with Ras Al Khaimah Economic Zones (RAKEZ) and own a free zone entity. His Excellency Ramy Jallad, CEO of RAKEZ commented, “We’re very proud to be an integral part in encouraging and launching startups from Ras Al Khaimah, and we are thrilled about collaborating with RAK Incubation and Accelerator Business to bring the Startup Weekend event to the Emirate. This presents a great opportunity for aspiring homegrown talents and entrepreneurs, to tap into mentorship and funding, helping them realize their dreams.”
The RAK Incubator and Accelerator intends to bring in 40 companies, comprising of 10 Emirati companies, 20 local and 10 international startups, with a tourism accelerator as part of its next agenda.