WakeCap Chosen from 12 Regional Startups Competitors to Advance to Global Finals in the 1776 and Boeing Dubai Challenge Cup Competition
Dubai, UAE, 23 October 2017 - 1776 and Boeing (NYSE: BA), announced WakeCap, a startup developing a wearable technology for hard hats to provide alerts & dash boarding to improve worker safety, as the first round winner of the Dubai Challenge Cup competition. WakeCap will advance to the Challenge Cup Global Finals to compete against startups representing 75 cities worldwide.
1776’s Dubai Challenge Cup Competition is one of 75 local pitch competitions taking place in cities around the world as part of 1776’s Challenge Cup, a search for the best technology startups tackling challenges in complex, regulated industries. In partnership with Boeing HorizonX, Boeing’s venture capital unit; the competition aims to support the development of a vibrant private sector in Dubai, the United Arab Emirates and wider region.
“Throughout our seven decades of experience in this region, we’ve had many opportunities to inspire young people through the work we do with our partners,” said Bernard Dunn, president of Boeing Middle East, North Africa and Turkey. “As regional governments move toward economic diversification, supporting the next generation of leaders is a key focus for Boeing. Our partnership with 1776 is helping to develop the tremendous entrepreneurial spirit that already exists across the region, while allowing us to harness leading business ideas and channel them toward solving some of the world’s most pressing challenges.”
Boeing HorizonX invests in early stage businesses and startups whose technologies support Boeing’s productivity and growth plans. Going beyond investment opportunities in disruptive technologies, HorizonX works with numerous organizations such as 1776 to encourage global entrepreneurial ecosystems and help entrepreneurs accelerate their paths to market.
The Dubai Challenge Cup took place at 1776's campus in the Jumeirah Emirates Towers and featured remarks from Boeing’s Michael Hauser and 1776 Managing Director, Margaret Shepard. The start-ups were judged by jury panel members from 1776, Boeing, and members of the UAE entrepreneurial ecosystem.
Over the past four years 1776’s Challenge Cup Competition has gone to over 60 cities across six continents; 4,000 startup applicants; and 1,800 pitches globally while deploying over $1 million in capital.
This year, Challenge Cup will take place in 75 cities around the globe, including cities included in Revolution’s Rise of the Rest program as well as over 20 U.S. state capitals. In each of these cities, 1776 partners with a leading local startup program to host a Challenge Cup experience on 1776’s UNION network, a digital platform that connects startup ecosystems around the world.
The program culminates in Challenge Festival, a multiday event in November 2017. For more information about Challenge Cup, click here.
1776 is a public benefit corporation that empowers startup ecosystems around the world to solve complex challenges. To accomplish this, we leverage our digital startup network, UNION; physical campuses in Washington, D.C., New York City, San Francisco and Dubai; a global startup pitch competition, Challenge Cup; and deep staff expertise in regulatory issues. We accelerate connections and outcomes among startups, corporations, and public institutions. For more information, please visit www.1776.vc and follow @1776 on Twitter and @1776vc on Instagram.
Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems, with more than 145,000 employees in 70 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
Since 1945, when Boeing first established its relationship with the Middle East, the company has developed sustainable and long-term relationships with key partners in the UAE and beyond to support the region’s aspirations for a successful aerospace manufacturing sector, while also encouraging future generations to contribute to regional development through partnerships in the education field. The company’s Engineering Training Program with Strata, its work as part of the Sustainable Bioenergy Research Consortium (SBRC) and its partnerships with education institutions such as the UAE Higher Colleges of Technology (HCT), Khalifa University, and UAE University are all prime examples of its efforts to support the UAE and regional development.