Dubai-based virtual incubator FasterCapital has launched its first round of funding for 2017, which will see it provide mentorship, access to capital and consulting services to selected startups from around the world.
FasterCapital said its last round of funding in 2016 attracted more than 1,700 applicants from more than 75 countries, with more than 30 startups accepted into the acceleration programme.
The latest round ends March 15, with the firm hoping to reach a wide audience of dedicated and enthusiastic entrepreneurs seeking both capital and incubation. Each applicant goes through business, financial and technical assessment, and is offered free feedback.
All accelerated companies will receive services such as mentorship, marketing study, feasibility study, technical consultation, new sales channels and financing, with FasterCapital offering an acceleration programme and an incubation programme.
The acceleration programme sees the company provide mentorship, access to capital and extra consulting services to entrepreneurs. The incubation programme, on the other hand, might appeal to non-technical entrepreneurs, as FasterCapital becomes a technical co-founder and co-funder, providing technical development per equity of up to US$500,000.
FasterCapital has more than 100 internal developers with different skillsets who are already working on multiple projects. Startups can apply to join the virtual incubator here. The company has invested more than US$10 million since its inception in 2010.