FasterCapital (a virtual incubator based in Dubai) has launched its fifth round of funding for 2016 which begins on September 18, 2016 and ends on October 17, 2016. The last round of funding attracted more than 2,000 entrepreneurs from more than 57 countries. More than 30 startups were accepted into the acceleration program.
Each startup goes through three levels of assessment: business, financial and technical. The study will be communicated back to the entrepreneurs so that they can receive feedback in the process of developing their startup, avoiding potential obstacles and improving ideas.
All accelerated startups will receive services such as mentorship, marketing study, feasibility study, technical consultation, new sales channels and financing.
FasterCapital offers two programs: “Acceleration Program” and “Incubation Program”. In the “Acceleration Program”, FasterCapital will provide mentorship, access to capital and extra consulting services (legal, technological and marketing) to entrepreneurs. Whereas in the “Incubation Program” FasterCapital will become a co-founder (technical cofounder) and co-funder (as one of the first investors) and will provide technical development per equity (up to $500k for each startup). The “Incubation Program” might also appeal to tech entrepreneurs who seek some help in covering some of the early investment in the startup.
Startups can apply to join the virtual incubator here.