Abu Dhabi based Krypto Labs has recently opened the worldwide registration for its Drone Innovation Startup contest.
According to WAM, the event is open to start-ups and innovators from around the world, who are interested in drone technology.
Dr. Saleh Al Hashemi, managing director, Krypto Labs, said, ” As a homegrown entrepreneurial ecosystem, we look forward to be a significant enabler for innovation in the UAE and beyond. DISC 2018 is the logical step for us at Krypto Labs, and it stands as the ideal platform for unearthing the best minds in the drone technology and Unmanned Aerial Vehicles (UAV) and Unmanned Aerial Systems (UAS) sector.”
DISC 2018 is Krypto Labs’ new global contest aimed at recognising the top innovators who contribute to redefine the conventional wisdom around aerial mobility and its entrepreneurial potential.
On 12th April 2018, submissions will be reviewed by the Krypto Labs team who will select the shortlisted entries, and five finalists will be selected and invited to pitch to the Final Day Jury at the final event that will be held in Abu Dhabi on May 6.
The incubator is focused on discovering and nurturing the most innovative ideas across the UAE, MENA region and the world.
The market for drones in the GCC is predicted to reach $1.5 billion by 2022, according to a report by Booz & Company. The study also noted that regionally, much of the predicted market for drones will be driven by the oil and gas ($633m), and utilities ($484m) industries — which are projected to constitute 43 per cent and 32 percent of the market respectively.
Krypto Labs noted that the contest will cover various relevant sectors including aerial photography, transportation and logistics, disaster management, search and rescue operations, terrestrial mapping, building management, law enforcement surveillance, and weather forecasting.
Apart from the $500,000 in funding, the winning start-up will have the opportunity to join the Krypto Labs incubator program and receive professional, training, mentorship and access to Krypto Labs’ world-wide network of experts and specialists.
