What is the Smart Dubai Office Blockchain Challenge?
Dubai launched a city-wide Blockchain Strategy in October 2016 with the aim of becoming the first blockchain-powered city by 2020. Smart Dubai Office (SDO) and 1776 are looking for game-changing applications of blockchain technology in any industry. Blockchain has the potential to improve people’s lives, and Dubai is posed to be a leader in moving such applications forward.
The Dubai Blockchain strategy is based on three pillars.
1. Government Efficiency: Implementing blockchain technology in government services
2. Industry Creation: Supporting the creation of a blockchain industry through empowering startups and businesses
3. Thought Leadership: Leading the global thinking on blockchain technology
The Smart Dubai Office Blockchain Challenge supports the second pillar, Industry Creation, and aims to discover the most innovative blockchain startup ideas from around the world.
Smart Dubai Office Blockchain Challenge Competitors
Meet the competing startups who will take the stage on May 30 at 1776 Dubai, and you can watch them pitch! These startups will head to Dubai to meet world-leading investors, network with VIPs, connect with customers and potentially win prizes and contracts to be part of Dubai’s blockchain strategy.
Click on the links below to the startups’ websites to learn more:
About Smart Dubai Office
The Smart Dubai Office oversees and facilitates Dubai’s city-wide smart transformation with the aim of delivering efficient, seamless, safe and impactful city experiences for residents and visitors. The office realizes that at the heart of providing these experiences, is the city’s willingness to test and adopt new technologies. In this context, Dubai aims to be a pioneer in the adoption of emerging technologies such as blockchain, which it recognizes has a major potential to transform city services.
- Your startup must be implementing blockchain technology in its solution or product.
- Your startup must be a for-profit business.
- Your business must be a scalable product or service and in-market (MVP or pilots are fine but must fundamentally be beyond “idea stage”).
- Your startup must have at least two team members.
- Your startup’s product or service should be possible to implement in Dubai from a technical and legal standpoint.
- Your startup must be willing to implement your product or service in Dubai.
- Your startup must ultimately be enhancing the quality of life and city of Dubai.
- Competing startups will receive pitch training at 1776 by mentors and experts
- Competing startups will meet a Smart Dubai Office representative to support with remaining questions about blockchain initiatives in Dubai on Day 1 of programming at 1776 Dubai campus
- Competing startups will have one month of 1776 membership
- Competing startups will pitch and showcase to an audience of investors, venture capitalists, dignitaries, public and private sector representatives
- Competing startups will receive free travel and accommodations to and from Dubai
- Winning startups will receive prize money based on placement
- Winning startups will have three months of 1776 membership
- Winning startups will have meeting scheduled with the support of Smart Dubai Office with potential clients
- Winning startups will receive promotion on 1776’s channels
The Smart Dubai Office and 1776 will select Competing Startups for the Blockchain Challenge:
- All companies must submit an application through the Blockchain Challenge website by April 13, 2017.
- Up to 20 startups will be selected as competing startups for the Blockchain Challenge by April 23, 2017.
- The selected startups will compete at the Blockchain Challenge in Dubai on May 30, 2017.
- A panel of judges will select 3 startups from the competing startups as winners of the Blockchain Challenge.
The three top winners of the SDO Blockchain Challenge will receive the following prizes:
- First Place $20,000 USD
- Second Place $15,000 USD
- Third Place $10,000 USD
Judges will evaluate startups based on the following criteria:
- Innovative use of blockchain technology
- Size of market opportunity
- The extent to which the product solves a problem for a particular target industry
- A clear and strong market rollout plan
- Traction (customers, revenues, users, etc.)
- The extent to which the product increases efficiency and cost savings, and can be implemented effectively
- A clear revenue model
- A motivated and skilled team
- Presentation skills
- February 5: Blockchain Challenge Launch & Applications open
- April 13: Applications close
- April 23: Selected competing startups are notified and announced
- May 28: Competing startups arrive in Dubai
- May 29: Training at 1776
- May 30: Blockchain Challenge event
- May 31: Competing startups depart from Dubai