The Dubai Future Accelerators announced the companies that were accepted to participate in the 12-week program. With 2,274 applications from 73 countries from all 7 continents and less than 2% of the applicants being selected - this is an incredible start to the Dubai Future Accelerators program.
For 12 weeks, these 30 companies will work with the seven government authorities participating in Dubai Future Accelerators to develop and test products and solutions for the challenges that face key economic and strategic sectors in the cities of the 21st century in the UAE, and that can also be applied to countries in the region and around the world.
His Excellency Mohammed Al Gergawi, Vice Chairman and Managing Director of Dubai Future Foundation, reiterated that the success Dubai has had in pioneering a new generation of business accelerator programs and the key role that the emirate is playing in shaping the future can be attributed to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum,vice president and prime minister of the UAE and ruler of Dubai,and the close involvement of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, crown prince of Dubai and chairman of the Board of Trustees at Dubai Future Foundation.
H.E. stressed that the initiative seeks to achieve the targets of Dubai Future Agenda by ensuring sustainability and innovation within the strategic sectors of the UAE. Moreover, it will explore new sectors based on the technologies of the fourth industrial revolution, which will create a market worth billions of dollars and revolutionize the business models that we know today.
The number of applications that the Dubai Future Accelerators program has succeeded in attracting in record time makes it one of the fastest-growing business acceleration programs in the world. This cements Dubai's global status and role as a major player in the development of next-generation technologies and business models.
The shortlisted entries
The list of finalists chosen to take part in the first round of the program includes a selection of the most innovative companies in the world that are currently developing and testing creative ideas and advanced technologies with a future outlook, which offer solutions to the challenges facing key sectors including health, education, energy and water, transport, infrastructure, security and safety, and technology. Furthermore, the finalists will develop solutions in such sustainable sectors as Hyperloop transport, 3D printing and digital financial transactions.
The most prominent names on the list are Hyperloop One, which is developing a transportation system set to outpace the speed of light; Next Future Transportation, specializing in mass-transit solutions and self-driving vehicles; Concensys, the world's largest software provider for app developers and Blockchain companies; Construction Robotics, specializing in construction solutions that increase productivity five-fold; and Honeywell, the Fortune 100 company working on developing advanced digital systems for the healthcare sector.
Next Future Transportation is a Silicon Valley-based company developing a smart transportation system consisting of electrical units able to accommodate up to six passengers, operate independently, and communicate with each other. Los Angeles-based Hyperloop One, meanwhile, is working on a high-speed transit system consisting of ""capsules"" that can travel in a network of depressurized underwater vacuum tunnels, which allows them to travel at speeds as high as 1,200 km/h.
Construction Robotics provides solutions for the construction sector using robotics, 3D printing, and automation systems, while Concensys develops applications for facilitating commercial and financial transactions using Blockchain technology - these applications help maintain records and data, all the while allowing for a secure exchange of financial assets without the need for a middle man. Finally, Honeywell is making strides in developing the ""healthcare at home solutions"" - a system set to allow hospitals and clinics to provide the most advanced possible care for their patients.
Identifying Challenges and Developing Solutions
The Dubai Future Accelerators program comprises three rounds every year. Each round lasts three months, during which the program works to attract the world's best emerging companies to find solutions for challenges - as well as ways to capitalize on economic opportunities - it identifies within strategic economic sectors by creating new technologies.
The initiative also provides training programs for participants to learn about business development and prototyping, as well as to create pilot projects for the City of Dubai. By the end of the training programs, participants should be able to build a profitable business model, in cooperation with the relevant government entities and global experts.
The Dubai Future Accelerators program is an initiative of the Dubai Future Foundation, and part of the Waqf's US$275-million ""Future Fund"".