In pictures: Flat6Labs Abu Dhabi invites startups to Get In The Ring
Three winners of regional business pitch competition to take part in Singapore final
The Get in the Ring competition, organised by Flat6Labs Abu Dhabi and held at Abu Dhabi Global Market (ADGM), attracted more than 100 initial applications. The team from NOW Money, which won in the heavyweight category. The company uses mobile banking technology to offer accounts and remittance services to low-income migrant workers in the GCC. DinoDrops, winner in the Lightweight category: The company runs an online platform for personalised greetings cards, party invitations and wedding stationery. A contestant pitches his idea to the Get In The Ring judging panel. Get in the Ring uses a format where two startups face off over five 30-second rounds, during which they talk about their teams, achievements and business model. The panel of judges that helped select the winners included Amjad Ahmad, managing partner at Precinct Partners; Issa Aghabi, venture capital investment officer at the IFC; Wai Lum Kwok, executive director (capital markets) at Abu Dhabi Global Market; and Victor Kiriakos, managing director, Flat6Labs Abu Dhabi. Attendees enjoy a lighter moment. Startups competed in a ‘weight class’ based on their valuation. ‘Lightweight’ covered companies valued in the $0-500K bracket, ‘Middleweight’ covered companies valued between $500K and $2.5 million and ‘Heavyweight’ covered companies valued at more than $2.5 million.