RAK FTZ awards innovative business plan

New start-up competition announced customer feedback app as inaugural winner
RAK FTZ awards innovative business plan
By Tamara Pupic
Thu 29 Oct 2015 04:32 PM

A mobile app that facilitates customer feedback has been named the winner of the inaugural Startup Champ Competition by Ras Al Khaimah Free Trade Zone (RAK FTZ).

Staffino, a start-up founded by Tomas Rosputinsky, won a business set-up package to be used with the free zone.

Aiming to recognise aspiring entrepreneurs with innovative business plans, RAK FTZ offered the grand prize of a facility, license, with Staffino beating eight other finalists.

The judging panel was comprised of Tomas Csobonyei, business development director of RAK FTZ, Liam Mooney, managing director of Blue Pencil, and David Moleshead, chairman and founder of Envestors.

Speaking about their inaugural competition, Shant Tengerian, creative director at RAK FTZ and the competition’s project manager, said:

“Our aim was to inspire innovation and contribute to the country’s new and ongoing National Innovation Strategy.

“We received a total of 111 submissions over the course of four weeks and nine contestants were shortlisted to present their business plans to our panel of judges.

“We were very thrilled with the enthusiasm that the contestants showed during the Pitch Day at our Boulevard Business Centre in Dubai, it showed how much distinctive skills and capabilities are ready to be part of the UAE’s economy.”

Home to more than 8,000 active companies from over 100 countries and over 50 industry sectors, RAK FTZ offers completely tax-free status to its clients, allows for 100 percent foreign ownership and unrestricted repatriation of profits, in addition to a host of other business-friendly incentives.

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