After 20 firms were chosen to join its newest cohort, Hub71 has grown its membership to more than 200 startups. The global tech ecosystem in Abu Dhabi assists creators in tech businesses and maximizes investment and business opportunities in the UAE capital.
A 60% surge in applications from founders looking to join Abu Dhabi’s international tech ecosystem resulted in Hub71’s third intake of startups in 2022.
The entrepreneurs will have access to Hub71’s thriving community within a huge tech ecosystem of active investors and corporate, governmental, and academic partners that serve as important catalysts for company growth. Additionally, the companies will gain from customizable incentives that will lower the setup costs and process.
Startups from six different nations are being welcomed by Hub71. Nine of the 20 startups in the cohort are based in the UAE, while the other 11 have moved to Abu Dhabi, demonstrating the capital of the UAE’s capacity to draw top-tier businesses that will support the further growth of Hub71’s community’s international variety.
“This success is a testament that Abu Dhabi is becoming a destination for high-quality startups that showcase great potential and impact,” said Badr Al-Olama, acting CEO of Hub71.
Among the several industries is cleantech, where Hub71 chose 44.01, a business that reduces carbon emissions by converting carbon dioxide into rock.
The addition of Finland’s iFarm, which develops novel agricultural technologies to support automated vertical farming, increased the number of other agritech companies chosen.
A spotlight was also placed on fintech. Thndr, a Dutch fintech firm that offers a digital investing platform governed by the Egyptian Financial Regulatory Authority, has raised over $22 million.
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