Krypto Labs inaugurates start-up incubator in Abu Dhabi
Krypto Labs has inaugurated a custom-built incubator, accelerator, and co-working space in Masdar City, in Abu Dhabi
A new facility designed to help connect innovators to investors has opened in Abu Dhabi’s Masdar City.
Krypto Labs inaugurated on Sunday, 22 October, 2017, its custom-built incubator, accelerator, and co-working space, it has been announced.
The facility, which spans 2,600m2, consists of a computing and 3D printing lab, a technical workshop, an audio-visual studio, a telescope, an e-library, and an on-site mentoring area, among other features.
Saleh Al Hashemi, managing director of Krypto Labs, commented: “The opening of Krypto Labs marks the beginning of a new era for both entrepreneurs and investors in the UAE.
“This facility was born from a deep understanding of the pain points typically faced by many start-ups, but has also been designed to incubate companies in any sector or phase of development, anywhere in the world. We are looking forward to working closely with some of the world’s most ambitious minds and welcoming them to their new home in the Middle East."
According to UAE state news agency, WAM, Krypto Labs has already attracted the support of a number of investors from different industries, and has distributed funding to several companies in different phases of development and implementation.
The Krypto Labs facility in Masdar City accepts applications for funding in exchange for a negotiated investment in projects, WAM reported.