The Entrepreneur Day
January 30, 2019,
The School of Engineering at the American University of Ras Al Khaimah (AURAK) hosted “The Entrepreneur Day,” a joint initiative led by the UAE Space Agency and Krypto Labs dedicated to find rising students to participate in the GeoTech Innovation Program.
The GeoTech Innovation Program is an academic competition aimed to accelerate the growth of three business start-ups, transforming their innovative ideas into commercially viable and scalable market-ready products in one of the following service areas: Urban and Land Management, Coastal Border Security, and Disaster and Crisis Management. The program is open to individual innovators and teams with a start-up idea that is innovative and disruptive, unique and fully developed by the team presenting it, within the mentioned three service areas, solves a problem, enhances its surrounding environment, diversifies the economy, supported by a feasible value proposition that can become a scalable product, and contains a clear technical approach. At least one member of the team must be a UAE citizen. The Geo Tech Innovation Program will award three start-up ideas with funding of AED 100,000 in cash and AED 500,000 in kind.
“The Entrepreneur Day” was a precursor competition leading up to GeoTech Innovation Program in which AURAK student teams proposed ideas aligned with GeoTech Innovation Program’s scope to event judges to win 1,000 AED to further fund their proposal. The winning team consisted of Aisha El Allam, Engr. Nour Al Obaidi, Montasar Irani, and Ahmed Saadawi with their idea of “Earthquake Damping System” which reduces the effects of earthquakes by analyzing real time data sent from satellites and executing an algorithm by embedded systems underground. All four AURAK student teams are set to compete in the upcoming competition. The Entrepreneur Day was supplemented with a speaker from the Business Development Manager of Kryto Labs, Hanan Khaldi.
Further information about the program can be found at https://ishuttle.space.gov.ae/idea?ch_id=5