Virtuzone, a virtual UAE-based free zone, in partnership with Dubizzle, the UAE’s leading online classifieds service, have launched a new business competition under the name of ‘The Falcons’ Lair’, offering entrepreneurs an opportunity to make their business dreams a reality.
Entrepreneurs whose ideas are chosen at the end will get an offer from Virtuzone to set up their company for free, including all the costs for the first year of incorporation; and they’ll get the equivalent value of that in online advertising on Dubizzle for free. The competition’s official site claims this amounts to an accumulated value of over AED 100,000.
All you have to do to take part in this competition is submit your elevator pitch, that tells about your business idea in 200 words or less. The finalists will be invited to present their pitch to a panel of leading business people from the UAE.
The only rule is that the idea must fit within one of Virtuzone’s following business categories: Publishing, Broadcast management, Media and marketing services, Music and entertainment, Consultancy, Broadcasting, Film making, production and post production, and Information services.
The deadline for receiving entries is November 25th, 2010.
You can visit the Falcons’ Lair competition website to know more about the competition or go directly and apply for it.
Virtuzone works with Fujairah’s Creative City Free Zone to provide these UAE trade licenses for entrepreneurs who want to set up a company in the UAE and get it up and running while keeping their overheads low. Virtuzone Trade Licenses usually start from AED 18,000 (US$4,800), in addition to a monthly service fee. In the case of this competition though, winners would get those first year costs covered for them, free of charge.
Interesting!