Entrepreneurial system

Sandbox Dubai Supports 7 Startups with AED 570,000 Each

“Sandbox,” a program dedicated to accelerating the growth of businesses and startups in the technology sector, and a subsidiary of “Oraseya Capital,” the investment arm of the Dubai Integrated Economic Zones Authority (DIEZ), has announced the successful conclusion of its fourth edition. Seven startups received funding of AED 570,000 ($150,000) each after successfully completing the program, which received over 1,500 applications.

Sandbox Business Acceleration Program in Dubai

The fifth edition of the program, starting next September, has received over 1,100 applications. Meanwhile, the sixth edition has begun accepting applications from technology-focused startups looking to enhance their business growth.

Statements from Officials

Hassan Waheed, Vice President of Corporate Finance and Treasury at DIEZ and Partner at Eurasia Capital, expressed his happiness with the significant level of interest in participating in the “Sandbox” program. He confirmed that this strategic initiative effectively supports the growth of small and medium enterprises across various sectors, enhancing the digital economy in Dubai and contributing to the goals of the Dubai Economic Agenda D33.

Supporting Investment in Startups

Waheed added that investing in startups with high growth potential and innovative visions strengthens Dubai’s competitiveness in attracting and funding technology startups, further enhancing its reputation as a premier destination for global investments.

Funded Startups

The list of the seven funded startups includes:

  1. “Curios” specializing in accelerating recruitment services.
  2. Sustainable food technology platform “HeroGo.”
  3. “Lisan,” specializing in improving Arabic writings using artificial intelligence.
  4. “S-Thrive,” specializing in boosting sales and employee performance in the retail sector.
  5. “Zoya,” specializing in financial technology.
  6. “Job Escape,” enhancing employee productivity using AI tools.
  7. “Optimum,” improving project management in the construction sector using AI.

Program Phases and Benefits

The program spans 5 months and is divided into two phases. The first phase is an 8-week evaluation, during which participating startups present their investment pitches to the investment committee of Eurasia Capital. This is followed by the 3-month Sandbox business acceleration program.

Participating startups benefit from over 50 hours of workshops, including financial efficiency diagnostics, marketing, and legal compliance programs. Additionally, they receive over 30 hours of direct mentoring from advisors and experts, along with opportunities to connect with regional investors.

Read Also: Qardy Secures $7-Figure Pre-Seed Investment to Revolutionize Digital Lending in Egypt and MENA Region

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