To accelerate entrepreneurship and innovation in Abu Dhabi, tech ecosystem Hub71 has accepted 16 startups from countries like the US, Italy, and the UK. This comes as part of Hub71’s strategy to operate and scale in other markets alongside the UAE.
Launched in 2019, Hub71 has managed to bring together a global network of strategic partners, investors, and organizations. The new cohort comprising pre-seed, seed, and Series-A startups has already raised more than $67 million collectively.
For the next two years, the startups will participate in Hub71’s incentive program that include equity-free incentives worth up to $1,36,124, access to enabling programs, and an ecosystem of active investors, corporate, government, and academia partners.
The selected startups specialize in various industries including fintech, healthtech, cleantech, edtech, foodtech, and logistics. The cohort also includes Hub71’s first tech company Amwal, a platform that enables people to pay, send or remit money based on their phone number, and fintech platform Abhi that allows employees to draw upon their wage when needed.
“Our value-driven programs are continuing to attract high-tech startups to Abu Dhabi that are driving transformation within key sectors of the economy. As a partner to over 170 startups in our community, we always strive to connect founders to our global network of blue-chip corporations, government bodies, and investors. With our ability to unlock real growth opportunities for founders, we expect this new cohort to gain tremendous traction over the next few months within the vibrant tech ecosystem that Abu Dhabi has to offer,” said Badr Al-Olama, Acting CEO of Hub71.
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