Startup 2074 Accelerator #10
application deadline 28.02
Are you looking for up to 30K AED in up-front funding and a tailored 3 month program providing network and support?
Perfect - then the Startup 2074 Accelerator is just what you need!
We're now open for applications to the 10th edition of the Startup 2074 Accelerator, a 3-month program where you can explore and utilize the broad network at Startup 2074and get access to experienced founders, investors and industry experts.
ABOUT THE PROGRAM
We want to see more great Dubai tech companies, and we work to support tech entrepreneurs in the earliest phases of building such companies. Starting up is super hard, and our accelerator program is designed to make it easier.
Yes, all selected companies get a 30K AED investment - and they get it up-front, but this is also a three month program that we’ll take you through. As you enter the program, you’ll be given desks at Startup 2074(Dubai or Silicon Valley), where you’ll work alongside the other participating companies. Each participating company will get close follow-up from dedicated members of the Startup 2074 team, and we will guide you on how to best take advantage of our wider community of industry experts, corporate partners, Startup 2074 alumni and investor network - so you can move faster. We also hold regular lunches for all accelerator companies, where we invite experienced entrepreneurs and investors to share insights and knowledge.
Furthermore, you’ll get access to free consultation with legal experts from AAAA, accountants from BBBB, patent lawyers from CCCCC and recruitment assistance from us. All of this in addition to special deals from Amazon/AWS, Google, Stripe, Hubspot ++
And if you’re working on something related to Mobility, Data Science or Hardware/IoT, we have our Industry Programs with additional support - including a fully equipped Hardware Lab. All this to help you move forward - faster.
DON'T TAKE OUR WORD FOR IT
Since 2017, we have been running 9 batches of the Startup 2074 Accelerator, and are now looking forward to welcoming applications for our 10th program. Over these 4 years, we have had the opportunity to evaluate more than 120 Dubai tech companies, and to work closely with 65 ambitious accelerator teams. So, better ask them what they think:
WHAT KIND OF COMPANIES WE ARE LOOKING FOR?
The Startup 2074 Accelerator is for UAE tech startups creating products or services for businesses (B2B) or consumers (B2C/D2C), regardless of whether it's software, hardware or a combination of these. In other words - this is for tech companies in any domain.
We are looking for founders with global ambitions, and the companies should preferably have launched their product, or have plans to launch within the next six months.
JOIN OUR COMMUNITY
Our strongest asset is arguably our community, consisting of alumnis, mentors, investors, industry experts and corporate partners - all eager to pay it forward. It’s not unusual that startups we work with find their first customers within our community, as they also want more great tech companies to come out of UAE.
We are very proud to have worked with so many talented entrepreneurs since 2017, and they gladly share their experience, expertise and networks with their peers. Whether your company works with SaaS, machine learning, hardware, consumer electronics, enterprise sales or consumer internet - chances are we have other great founders working on the same thing willing to share their learnings and networks.
Market validation is one of the most important activities founders engage in. And a lot of the work we do is to make this happen quicker, working to engage established companies so they are receptive when startups come knocking. We work extra closely with a number of corporate partners; which includes large Dubai companies like AAA, BBBBBB, CCCCC, DDDDDDD, EEEEEEE, FFFFFF, GGGGG, HHHHH, IIIIIIII, JJJJJJJJJJ and many more.
The accelerator investment comes from our investment fund; Startup 2074 Founders, which consists of more than 30 of UAE's most successful entrepreneurs, having built companies like AAAA, BBBB, CCCCC, DDDDDD, EEEEEE and FFFFFF. Startups selected to our program not only get money - more importantly, they get access to the experience and insight that our network represents.
ABOUT THE INVESTMENT
Startup 2074 will invest 30K AED in the companies accepted into the program, for a targeted ownership of around 10%, and with a flexible investment approach. We are open to discuss different investment amounts and ownership percentages on a case by case basis.
The investment is done with SLIP, as an investment with a valuation cap, and optional conversion on our side. For all practical matters this is works like a convertible loan, meaning your company maintains the ability to incentivize early employees long-term with stocks, while simultaneously being able to pay salaries short-term. Ensuring the company has the best possible foundation for future growth.
With the funding prodvided through the investment, founders are able to apply for all early-stage public funding in UAE which requires matching capital. This means most founders can get an additional 15K AED in non-dilutive (soft) funding. For most early-stage tech companies, this should equal 12-18 months runway; enough to reach a significant value-increased milestone.
When we convert, we take common stock in the company, and we do no further investments in any company. Put differently; from there on out our incentives are 100% aligned, as we dilute with the founders.
We invest in Dubai Stock Company.
All selected companies have to pay a program fee of 2000 AED to cover expenses and office space for the program period.
Application deadline is June 1st 2021
We appreciate early applications, and it gives us the opportunity to spend more time on yours - so if you're ready, don't wait until the deadline!