The Dubai Silicon Oasis Authority (DSOA) has launched an early-stage startup programme called SANDBOX, according to a recent announcement.
SANDBOX is a 12-month programme aimed at supporting early-stage tech startups to scale and raise funds. The programme was announced at the GITEX Future Starts tech event in Dubai.
SANDBOX will be run by the Dubai Technology Entrepreneur Campus (DTEC), a wholly owned tech hub and co-working space by the DSOA. DTEC is home to over 1,000 startups from 75 countries, the startup noted.
AED 9,500 company setup fee for SANDBOX
The programme will follow a rolling application process that will be open to startups from minimum viable product stage to seed stage.
Participants of the SANDBOX initiative will have to shell out AED 9,500 as exclusive company setup rates.
The KPI-driven programme is built around the pillars of product development, traction, scaling, financial diagnostics, wellbeing and legal support.
Accepted applications will gain access to a curriculum featuring theoretical and practical workshops, mentorship avenues and networking opportunities. SANDBOX will offer over 200 hours of practical workshops, and over 100 hours of one-on-one mentorship.
Further, DSOA is also opening up partner services of over AED 550,000 and access to venture capital funds, in addition to a suite of financial efficiency and legal compliance diagnostic tools.
Further, DTEC is also looking to invest in some of the startups through a dedicated “funding purse”, the statement said. The total investment pool or ticket sizes was not disclosed.
“Dubai Silicon Oasis, and its wholly owned DTEC, have extensive experience as a tech hub and an incubator for entrepreneurs and startups, supporting them in transforming their innovative ideas into reality and empowering them in securing financing.
The programme is the first of its kind in the region, founder-centric, addressing a gap in early-stage initiatives,”
Dr. Mohammed Al Zarooni, Vice Chairperson and CEO of DSOA, said.