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After an evaluation process involving Hub71, its ecosystem partners, and VC funds, 16 startups were selected to join the Hub71 community. We currently count about 170 members.
Over the next two years, new cohorts will participate in the technology ecosystem’s incentive program. The program will provide access to equity he free incentives worth up to AED 500,000, enabling programs and active investors with corporate, government and academic partners.
The selected startups hail from nine countries, including the US, Italy and the UK, and specialize in fields ranging from fintech, healthtech and cleantech to edtech, foodtech and logistics.
In addition to homegrown start-ups from the United Arab Emirates, the cohort also includes Hub71’s first tech companies from Luxembourg.
Cohort includes: green future planis a platform for individuals and companies to support major climate projects globally and track and track their environmental impact. Amwaris a platform that allows people to pay, transfer or send money based on their phone number, Abbiis a fintech platform that allows salaried workers to withdraw their wages when they need them.
Since its inception three years ago, Hub71 has brought together a network of partners, investors and organizations to accelerate entrepreneurship and innovation in Abu Dhabi.
In Hub71’s quest to source quality startups, its cohort of pre-seed, seed, and Series A startups has already raised more than $67 million in total.
In describing how the program has driven digital transformation and sustained high-tech startups, Badr al OramaHub71’s acting CEO commented:
With our ability to unlock true growth opportunities for founders, we are confident that this new cohort will gain significant traction over the coming months within the vibrant tech ecosystem Abu Dhabi has to offer. I look forward to it.
patronage Mubadala Investment CompanyHub71 has successfully cultivated 80% of the startup network through its program.
In the first half of this year, Hub71’s startup community raised $436 million from investors, generating nearly $700 million in revenue since its inception.
Economically, the program has led to the creation of approximately 1,000 jobs.
In addition to this, the ecosystem confirmed that it is currently developing a cross-border program. This aims to enable startups to operate and scale in other markets while deepening market access to the UAE for foreign-based founders.
