More than 2,200 companies from 73 countries have applied to be a part of the first cycle of the Dubai Future Accelerators (DFA), a global business acceleration programme commencing on September 12, a report said.

With less than 35 spots, the application to acceptance ratio will be nearly 1 per cent, making it the highest and fastest submission rates of any programme globally, added the report from the Emirates News Agency (Wam), the official news agency of the UAE.

Saif Al Aleeli , CEO of Dubai Future Foundation said that the programme has been receiving positive feedback and interaction since its inception, from innovators and SMEs, as well as from the most influential accelerator communities and venture capitalists in Europe, East Asia, and the US.

The initiative forms a shortcut to the knowledge-based economy by attracting the best minds and innovations from around the world, he added.

It forms a compass that directs the entrepreneurship sector’s involvement in the government strategy to build the future, underlining the importance of supporting entrepreneurs and start-ups, Al Aleeli explained.

The programme is designed to help participants develop innovative projects and advanced technologies, and address the challenges of achieving sustainable development for future generations.

The US topped the list of 73 participating countries with regards to the number of individual participants, followed by the UK, Germany, India, Singapore, and Australia – apart from the large number of local start-ups.

The applications were distributed along the major sectors covered by the initiative, such as health, education, infrastructure, transport, energy, water, safety and security, and advanced technology.

The education sector, which is supervised by the Knowledge and Human Development Authority, made up 24 per cent of the applications, while the advanced technology sector, supervised by Dubai Holding constituted 19 per cent.

The energy and water sector, meanwhile, which is under Dubai Electricity and Water Authority’s (Dewa) supervision got 15 per cent of the applicants, and 17 per cent went to the health sector, supervised by Dubai Health Authority (DHA).

The transportation and infrastructure sectors, supervised by the Roads and Transport Authority (RTA) and Dubai Municipality, respectively, attracted equal shares of 13 per cent, while the safety and security sector, supervised by Dubai Police accounted for 5 per cent of total applications.

An expert committee made up of specialists from the key sectors will evaluate the projects and their potential to deliver real solutions for the challenges facing us in the 21st century. The initiative announced these "21st century challenges" that face the cities of the future. The founding members of the initiative will participate in judging panels to shortlist five start-ups from each sector to take part in the first round of the programme.

Applications received by the programme concentrated on modern technologies, such as the use of bio-materials in 3D printing, as well as the use of nanotechnology, wireless electrical networks, and the production of electrical energy from floor tiles in a bid to reduce water energy consumption.