Dubai Announces Competition For Startups, Content Creators Winners To Secure Funding

(MENAFN- Khaleej Times) Published: Sun 8 Sep 2024, 5:10 PM

Last updated: Sun 8 Sep 2024, 9:46 PM

Startups and content creators across the world will have a unique opportunity to present their groundbreaking ideas to investors and industry players in a first-of-its-kind Dubai-based competition.

The 1 Billion Pitches will give participants the chance to secure crucial support and funding for their ventures by pitching live at the third edition of the 1 Billion Followers Summit taking place from 11 to 13 January, 2025.

Organised by the New Media Academy, the competition will award two winning pitches with support - including potential funding, strategic partnerships, and ongoing mentorship - to help them scale their ventures and achieve long-term success.

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“(The competition) opens new horizons of growth while offering them exceptional exposure to top investors,” said Alia AlHammadi, CEO of the New Media Academy.“Such support ensures the launch of projects that contribute to economic and social development, and to a more prosperous and sustainable future.”

Startups and content creators have been invited to submit their business ideas before the deadline of 20 September, 2024.“The 1B Pitches competition will kick off once the submissions deadline is reached,” said Alia.“The best 25 ideas are selected. Those shortlisted entrants will then embark on a specialised mentorship and training program led by industry veterans, equipping them with the skills and knowledge to refine their pitches and maximise their chances of securing support and funding during the January event.”

To be eligible, applicants must have a registered business and be at least 18 years of age. Each startup can submit one business idea on the summit's website and all submissions will undergo a rigorous evaluation process to ensure they meet the competition's criteria.

A panel of judges composed of key investors and international experts will select the top 25 applications who will present their ideas live. After the presentation, 10 submissions, selected through judges and audience voting, will move to the second stage of the competition.

The judges will evaluate each pitch based on specific criteria, including innovation, feasibility, quality of the pitch, market potential, creativity, scalability, potential social and economic impact, as well as the applicant's leadership capabilities. They will also assess the projects' financial potential and profitability, along with their attractiveness to future investors. The competition culminates with two winning pitches.

Under the theme 'Content for Good', the 1 Billion Followers Summit will return for its third edition in January 2025, showcasing the UAE's commitment to becoming a global hub for creative innovation.

Billed as the world's biggest gathering for content creation and creators, the summit brought together over 3,000 content creators, influencers and creatives from all around the globe, including 100 expert speakers, to address and inspire over 1 billion people in 2024.

When the event took place in January this year, social media sensation Khaby Lame was the headliner. The Tiktoker, who has over 162 million followers and is the most followed account on the platform, went viral during the pandemic with his silent, exasperated expressions.

Palestinian content creator Plestia addressed the crowd virtually while Minister of Cabinet Affairs Mohammed AlGergawi explained the quirky story about his single tweet on social media platform X, which is of a dot.

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