ROUND 6 INVESTOR DEMO DAY FOR TURN8 TECH ENTREPRENEURS
DP World initiative provides start-ups with the opportunity to build successful business models
Dubai, United Arab Emirates, 19 May 2016
The latest round of the TURN8 initiative, a venture fund comprised of a growth accelerator program for start-up companies complemented by a follow-on investment fund, brought eight promising candidates and business investors together at the Grosvenor House Hotel in Dubai this week.
A unique collaboration between enterprise and innovators, start-up teams in TURN8 are backed with investment, mentorship, training and year-long business development support. Follow-on investment helps them scale and grow globally. Since the start of the program in 2013, over 8,000 start-up companies have applied to join with 60 receiving over $4 million in co-investment from the venture capital community.
DP World Chief Information Officer, Yousif Al Mutawa, said: “DP World has an innovative mindset and a priority for us is to encourage creative thinking, supporting young talent to drive the future. Innovation is the heart of our business and as a global trade and logistics enabler we are keen to develop an entrepreneurial culture in Dubai and elsewhere. Dubai and the UAE are a great example of how innovation has led to economic development and we are delighted to nurture talented people in their quest for business success, providing a helping hand at this vital stage so they can follow their dreams to turn their ideas into reality.”
TURN8 Programme Manager, Ahmed Abdulwahab, said: ”The accelerator is designed to coach each start-up in developing their product, sales and marketing efforts. These teams demonstrate innovative solutions with real, game-changing possibilities and it’s exciting to join them on their journey from idea inception to market entry.”