Hub71

Last updated
Hub71
Company type Public
IndustryTech ecosystem
Founded2019;5 years ago (2019)
Headquarters
Abu Dhabi, UAE
,
United Arab Emirates
ServicesEconomic hub, Venture capital, Investments
Website https://www.hub71.com/

Hub71 is a tech ecosystem based in Abu Dhabi, UAE. It was launched in 2019 by the UAE government as part of the Ghadan 21 initiative and is located in Abu Dhabi Global Market financial center on Al Maryah Island.

Overview

Hub71 was launched in 2019 by the UAE government as part of Ghadan 21 AED 50 billion economic accelerator initiative and is backed by the Mubadala Investment Company. [1] [2] [3] [4] [5] [6] It was named after the UAE’s formation date of 1971 and is located in Abu Dhabi Global Market. [7] [8] Ahmed Jasim Al Zaabi serves as the chairman of Hub71. [9] [10]

Hub71 was created as a community hub for entrepreneurs, investors and business enablers primarily to support startup companies across the world and to develop a global ecosystem in Abu Dhabi. [11] [12] [13] [14] [15] [16] [17] [18]

Hub71 provides incentives through its Company Building Program, offering cash and in-kind incentives. Startups gain financial support, mentorship, and access to Hub71's community. Through the program, Hub71 also gains an ownership interest in selected startups and provides further support packages to promote startup growth. [19] [20] [21] Additionally, startups can secure funding separately from venture capital firms that have partnered with Hub71. [22] [23]

In February 2023, Hub71 announced the launch of Hub71+ Digital Assets, for the purpose of funding Web3 startups and Blockchain technologies. [24] [25] [26] [27] [28]

As of June 2023, the total number of start-ups at the technology hub were 260. [29] [30]

In December 2023, Hub71 launched Hub71+ ClimateTech, a program to support global startups advancing sustainable decarbonization tech for a net-zero future. [31] [32] [33]

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References

  1. ↑ "Investible announces partnership with Abu Dhabi's Hub71 tech ecosystem to accelerate the global climate tech sector". investible.com. Retrieved 2024-02-26.
  2. ↑ "UAE's Mubadala Creates Abu Dhabi Hub71 With Softbank and Microsoft for New Space for Other Tech Start-ups". spacewatch.global. 2019.
  3. ↑ "Hub71". www.adsmehub.ae. Retrieved 2024-02-26.
  4. ↑ "Abu Dhabi and Hub71, the new technological hub to attract start-ups". en. Retrieved 2024-02-26.
  5. ↑ "Abu Dhabi Invests Over AED 1bn to Drive Tech Transformation Through Hub71 – Middle East & Africa News Center". news.microsoft.com. Retrieved 2024-02-26.
  6. ↑ "Mubadala sets up tech hub in Abu Dhabi with SoftBank". www.ft.com. Retrieved 2024-02-26.
  7. ↑ "The 11 startups that will reside at Hub71 in Abu Dhabi". www.sme10x.com. Retrieved 2024-02-26.
  8. ↑ Sankar, Anjana. "Abu Dhabi launches Dh535m Hub71 for tech startups". Khaleej Times. Retrieved 2024-02-26.
  9. ↑ "Hub71 Leads AED 1.5 Billion Investments For Abu Dhabi Startups". www.mediaoffice.abudhabi. Retrieved 2024-02-26.
  10. ↑ Service, TLME News (2022-03-23). "Hub71 Leads $408 Million Investments for Abu Dhabi Startups". Transport and Logistics ME. Retrieved 2024-02-26.
  11. ↑ "Hub71 CEO: Seeing a 'significant influx' of fintech firms in Abu Dhabi". CNBC. Retrieved 2024-02-26.
  12. ↑ Release, Press. "Hub71 grows startup community to over 200 technology companies with latest cohort". www.zawya.com. Retrieved 2024-02-26.
  13. ↑ "Hub71". UAE-UK Business Council. Retrieved 2024-02-26.
  14. ↑ "Hub71 and Khalifa University to Accelerate Opportunities for Exceptional Students to become CEOs of Their Own Companies". www.ku.ac.ae.
  15. ↑ "Hub71- Abu Dhabi's Global Ecosystem". www.businesssetup.com. Retrieved 2024-02-26.
  16. ↑ "16 startups join Abu Dhabi's Hub71 as second cohort". gulfnews.com. 2022-08-30. Retrieved 2024-02-26.
  17. ↑ Staff, M. B. (2019-03-24). "Abu Dhabi's government launches $141 million tech hub 'Hub71' for startups, Softbank and Microsoft join as founding partners". MENAbytes. Retrieved 2024-02-26.
  18. ↑ https://www.moec.gov.ae/en/-/h.e.-bin-touq-visits-abu-dhabi-s-hub71-and-meets-with-startup-founders
  19. ↑ "Hub71". Abu Dhabi Startups. Retrieved 2024-02-26.
  20. ↑ https://code.mcit.gov.sa/en/Innovation-Lab/hub71
  21. ↑ "HUB71 to offer startups up to $204,000 with new Incentive Programme". Wamda. Retrieved 2024-02-26.
  22. ↑ "Hub71 collaborates with UAE banks to support tech startups". www.gulftoday.ae. Retrieved 2024-02-26.
  23. ↑ Adi, Mahmoud (2019-07-01). "Stronger Together: How Hub71 Is Building An Enabling Environment For Tech Startups In Abu Dhabi". Entrepreneur. Retrieved 2024-02-26.
  24. ↑ https://www.crowdfundinsider.com/2023/02/202678-abu-dhabi-introduces-hub71-digital-assets-to-accelerate-growth-of-web3-startups/
  25. ↑ "Hub71 to invest $2 billion to build Web3 startup ecosystem". Fast Company Middle East | The future of tech, business and innovation. Retrieved 2024-02-26.
  26. ↑ Angeles, This illustration photo shows the Coinbase logo on a smartphone in Los; April 13; Images, 2021-CHRIS DELMAS/AFP via Getty (2023-05-16). "Coinbase 'welcomed' to Abu Dhabi's Hub71, hinting at new base in UAE - Al-Monitor: Independent, trusted coverage of the Middle East". www.al-monitor.com. Retrieved 2024-02-26.{{cite web}}: CS1 maint: numeric names: authors list (link)
  27. ↑ https://www.adgm.com/media/announcements/abu-dhabi-launches-hub71-plus-digital-assets-to-accelerate-growth-of-web3-startups
  28. ↑ "HKTDC Research". research.hktdc.com. Retrieved 2024-02-26.
  29. ↑ Rahman, Fareed (2023-06-22). "Abu Dhabi's Hub71 selects 15 start-ups to join its growing tech system". The National. Retrieved 2024-02-26.
  30. ↑ Sertin, Carla (2023-06-22). "Hub71 reveals 15 startups in its first cohort of 2023". WIRED Middle East. Retrieved 2024-02-26.
  31. ↑ "Hub71 Plus Climate Tech". www.hub71.com.
  32. ↑ Cabral, Alvin R. (2023-12-05). "Abu Dhabi's Hub71 launches programme to support climate technology start-ups at Cop28". The National. Retrieved 2024-01-16.
  33. ↑ "Hub71 launches climate tech-focused programme for startups worldwide". Wamda. Retrieved 2024-01-16.
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