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Winner of the challenge will receive a US$ 1 Million prize
Abu Dhabi, UAE – In its most rewarding initiative to date, Krypto Labs, the global business technology incubator with a unique ecosystem for funding ground-breaking startups, has announced its first global challenge, the Drone X Challenge 2018, aiming at transcending beyond the limits of innovation in Drone Technologies. The challenge, which complements the previously concluded Drones Innovation Startup Contest, will reward the winner an astounding US$ 1 Million.
In alignment with Krypto Labs’ vision of seeking out the finest of talents and ideas, and shaping the future with innovative products and services, the challenge seeks to find cutting-edge technologies of high criteria, such as up to two hours of endurance time, the ability to carry loads up to 500 kg, using both gas and/or battery powered engines, as well as be able to maneuver in a fast, safe, and precise manner.
The Drone X Challenge 2018 will be open to creative individuals, groups, ambitious entrepreneurs, talented and promising university students, R&D projects, and companies around the world, participants will have a timeframe of one year to develop and produce a project that will meet the requirements. All applications must include fixed-wing or propeller-based drones. The challenge aims to find the most outstanding drones in two main domains: Innovation in Maneuverability, and Innovation in Transportation. The winner of the challenge is expected to offer innovative, inventive, and disruptive products or services which are agile, original, and have scalable commercial applications.
“It is no secret that we are going through a transformational era. The digital revolution is reshaping many features of modern life around the world, and drone technologies are a solid proof of that”, says Dr. Saleh Al Hashemi, Managing Director of Krypto Labs.
He added: “We are currently redefining the way drone technologies can serve humanity, and Krypto Labs takes pride in being at the frontier of the notion of catalyzing and supporting industries that are involved in the field of drone development, as well as collaborating with the brilliant minds of the industry to mobilize the way these applications are disrupting existing methods, achieving leaps in the technological progress that is currently taking place.”
The Drone X Challenge highlights the applications in which drones can excel, such as rapid delivery for transportation purposes, and distribution of objects in a small timeframe, and it will be a 1-year+ program. The selection criteria, timeline, and final day event information will be announced soon.
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About Krypto Labs
A world-class ecosystem for ground-breaking start-ups, Krypto Labs is an all-in-one business incubator, accelerator and co-working space for start-ups and individuals from anywhere in the world who want to innovate and develop revolutionary products and services across any industry. We are based in the sustainable eco-development Masdar City, in Abu Dhabi, United Arab Emirates, and our flourishing entrepreneurial network spans across the globe.
Our sustainable state-of-the-art premises are inviting, inspiring, embedding and confidence boosting. Krypto Labs provides the entrepreneurial community with a co-working space where freelancers, independent contractors, work-from-home professionals and others can focus and achieve in the company of like-minded individuals. It also allows them to be part of a network that provides complimentary services to their businesses for below-market cost.
The Krypto Labs incubator program is carefully designed to support new ideas and established start-ups with vital assistance, including mentorship, funding, networking and other support services to allow innovators to concentrate on their core competencies. We run two intakes per year, lasting five months each, and culminating in a Demo day. Selected start-ups will receive funding in return for a negotiated stake in their company.
For more information please visit: https://kryptolabs.com/
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