UAE’s Krypto Labs launches US$500,000 Drone Technology Startup Competition

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Krypto Labs $500,000 startup competition for the best drone technology is aimed at attracting promising startups.
Krypto Labs $500,000 startup competition for the best drone technology is aimed at attracting promising startups.

Abu Dhabi based Krypto Labs, which provides an all-in-one business incubator and co-working space for start-ups and entrepreneurs has launched a worldwide search for the best unmanned aerial vehicle (UAV) innovators through a drone technology start-up competition. Aimed at highlighting the growing importance of the industry, the competition hopes to attract promising start-ups.

Krypto Labs is currently forming a high-profile jury committee comprising international UAV experts and specialists, who will be judging based on hardware and/or software and/or services quality.

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The competition covers all sectors of the UAV industry including transportation, services, healthcare, defense, security, medicine, humanitarian aid, media, archeology, agriculture, industry, internet and global information systems.

“Krypto Labs” has set out a list of criteria to be considered in this global competition. Among these criteria, candidates should offer innovative, intelligent and realistic technologies that disrupt markets and businesses, while also contributing to community development, and facilitating services.

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Worldwide registration, for individuals or groups of innovators, to the start-up competition opens from second half of January 2018 and will run for three months until the second half of April 2018. The winning entry will have the opportunity to join the incubator and receive professional sponsorship and funding of up to US$ 500,000.

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Commenting on the competition launch, Dr. Saleh Al Hashimi, Managing Director of Krypto Labs, said: “Krypto Labs is a full ecosystem formed to enhance the emerging business industry and to discover the best and brightest talent and the most innovative ideas across the MENA region and the world. It is through initiatives such as the global drone technology start-up competition that we seek to draw out the world’s best innovators from every corner of the globe.”

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Last October, “Krypto Labs” announced the winner of its first global competition for the best innovative project during the inauguration of its headquarters in Masdar City in Abu Dhabi. The space comprises an integrated 2,600 square meter business environment that serves as a fully equipped co-working space ideal for entrepreneurial incubation and development.

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