Dubai: Aspiring businessmen from around the world have been invited to participate in a competition and win Dh100,000 to help launch their project.
Spearheaded by the Department of Tourism and Commerce Marketing (DTCM), the six-week, zero-equity accelerator programme aims to tap into the creative startup community by inviting tech start-ups to the industry.
Yousuf Lootah, executive director of Tourism Development and Investments, Dubai Tourism, said: "Since the inception of the Futurism Programme in 2017, Dubai Tourism has helped shine a light on several pioneering startup businesses from around the world, supporting them to become true success stories, as their solutions have led to impactful improvements to the travel and tourism sector.
The Futurism Programme is part of the Dubai 10X initiative by the Government of Dubai to accelerate the city 10 years ahead of others.
“The launch of the third edition is testament to the Programme's ongoing success and the huge interest it has gained among Dubai Tourism's partners, venture capitalists, entrepreneurs and stakeholders within the startup and tourism ecosystems. The Futurism Programme forms part of our ongoing efforts to drive Dubai's tourism industry into the digital era, ensuring the city's leading position as a global destination," said Lootah.
This year’s Futurism Programme invites entrepreneurs to submit their applications by July 31, 2019.
In a statement, Dubai Tourism said: “DTCM and its partner network will mentor and collaborate with rising stars to help identify opportunities. Then, in the final week of the programme, applicants pitch their ideas on stage at Gitex Technology Week with winners receiving a cash prize.”
The Gitex Technology Week will run from 6-10 October 2019, at Dubai World Trade Centre.
A judging panel comprising leading technology experts, Dubai Tourism's senior leadership and its partners across the industry, will select the top 10 startups from all entries submitted into the process.
The shortlisted entrants will be put through a six-week accelerator programme during which ten finalists will each be given the opportunity to finalise a pilot project with the support of Dubai Tourism, Tajawal-Seera Group, Atlantis The Palm, Emaar Hospitality Group and the Emirates Group.
The start-ups will pitch their unique concepts to a group of business owners, investors and venture capitalists at the Dubai Tourism stand at Gitex Future Stars, which will be hosted later this year.
Dubai Tourism will then announce the winning start-up and a runner-up, who stand to win a prize of Dh100,000 as the initial startup capital. In addition to licensing, the winner will receive relevant visas in Dubai, office space and the opportunity to secure potential future funding.