Hub71 Explained

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.[1]

Overview

Established in 2019, Hub71 is a tech ecosystem located in Abu Dhabi Global Market. The initiative is part of the UAE government's Ghadan 21 economic accelerator program, a 50 billion AED investment focused on economic growth. Hub71 is backed by the Mubadala Investment Company.[2] [3] [4] [5] It is named after the UAE’s formation date of 1971.[6] Ahmed Jasim Al Zaabi serves as the chairman of Hub71.[7]

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.[8]

In 2022, Hub71 announced the selection of 16 startups for its latest cohort. These startups, chosen from over 170 applicants, represent nine countries and various sectors including fintech, healthtech, and cleantech. The program offers equity-free incentives and access to Hub71's network of investors and partners.[9]

Hub71's Company Building Program offers startups financial and practical support.[10] Selection for Hub71's Company Building Program may involve an equity stake for Hub71. The program offers comprehensive support packages to participating startups, fostering their growth.[11] Additionally, startups can secure funding separately from venture capital firms partnered with Hub71.[12] [13] [14]

As of June 2023, the total number of start-ups at the technology hub were 260.[15] [16]

Notes and References

  1. Web site: Abu Dhabi launches Dh535m Hub71 for tech startups . 2024-09-30 . Khaleej Times . en.
  2. Web site: Abu Dhabi start-up teams up with Etihad to develop inflight smart tray to reduce food waste . 2024-09-30 . The National . en.
  3. Web site: Abu Dhabi and Hub71, the new technological hub to attract start-ups . 2024-09-30 . en . en-US.
  4. Web site: Abu Dhabi Invests Over AED 1bn to Drive Tech Transformation Through Hub71 – Middle East & Africa News Center . 2024-09-30 . news.microsoft.com.
  5. Web site: Mubadala sets up tech hub in Abu Dhabi with SoftBank . 2024-09-30 . www.ft.com.
  6. Web site: Abu Dhabi Government sets up tech hub luring SoftBank, Amazon and Microsoft . 2024-09-30 . The National . en.
  7. Web site: Hub71 Announces New Leadership Updates . 2024-09-30 . www.adsmehub.ae . en.
  8. Web site: 2019-10-21 . Hub71 CEO: Seeing a 'significant influx' of fintech firms in Abu Dhabi . 2024-09-30 . CNBC . en.
  9. Web site: 2022-08-30 . 16 startups join Abu Dhabi’s Hub71 as second cohort . 2024-09-30 . gulfnews.com . en.
  10. Web site: 2023-10-17 . Hub71 Company Building Program Offers Startups AED750,000 to Bolster Market . 2024-09-30 . The Fintech Times . en-GB.
  11. Web site: HUB71 to offer startups up to $204,000 with new Incentive Programme . 2024-09-30 . Wamda . en.
  12. Web site: Hub71 collaborates with UAE banks to support tech startups . 2024-09-30 . www.gulftoday.ae.
  13. Web site: 2019-07-01 . Stronger Together: How Hub71 Is Building An Enabling Environment For Tech Startups In Abu Dhabi . 2024-09-30 . Entrepreneur . en.
  14. Web site: 2019-06-01 . Getting to the heart of Abu Dhabi's Hub71 . 2024-09-30 . en-US.
  15. Web site: Rahman . Fareed . Abu Dhabi’s Hub71 selects 15 start-ups to join its growing tech system . 2024-09-30 . The National . en.
  16. Web site: Abu Dhabi's Hub71 launches programme to support climate technology start-ups at Cop28 . 2024-09-30 . The National . en.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Hub71".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2025, A B Cryer, All Rights Reserved. Cookie policy.