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Wed 29 Nov 2017 12:54 PM

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$500,000 funding up for grabs in UAE-based drone competition

Krypto Labs launches global unmanned aerial vehicle (UAV) technology startup competition

$500,000 funding up for grabs in UAE-based drone competition
ModelMe3D won the first Krypto Labs competition during the inauguration of its headquarters in Masdar City in Abu Dhabi in October.

Half a million dollars in funding is on offer for the creator of the best unmanned aerial vehicle through a drone technology start-up competition.

Krypto Labs, a technology incubator based at Masdar City in Abu Dhabi, has launched a worldwide drone technology start-up competition, aimed at highlighting the growing importance of the industry.

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

Apart from the $500,000 in funding, the winning entry will have the opportunity to join the Krypto Labs incubator and receive professional sponsorship.

Managing director of Krypto Labs, Dr. Saleh Al Hashimi said Krypto Labs is focused on discovering and nurturing 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,” Al Hashimi said.

Krypto Labs is in the process of forming a jury committee comprising international UAV experts and specialists, who will be judging ideas based on hardware and/or software and/or services quality.

To qualify, the entry should offer innovative, intelligent and realistic technologies that disrupt markets and businesses, while also contributing to community development, and facilitating services.

Worldwide registration, for individuals or groups, opens mid-January 2018 and will run for three months until the second half of April 2018.

Last October, Krypto Labs picked Dutch startup ModelMe3D as the winner of its first global competition 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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