Abu Dhabi’s global tech ecosystem, Hub71, has selected the latest batch of tech startups. Over the next two years, new cohorts will participate in Hub71’s incentive program, benefiting from equity-free incentives worth up to AED 500,000. They will also have access to active investors, corporate, government and academic partners.
The selected startups come from nine countries, including the United States, Italy and the United Kingdom. They specialize in areas such as FinTech, HealthTech, CleanTech, EdTech, FoodTech and Logistics. In addition to locally developed startups in the UAE, the cohort also includes the first Hub71-affiliated tech venture from Luxembourg. The Green Future Project, a platform for individuals and companies to support top international climate projects and track and trace their environmental impact, is one of the eclectic start-ups. The cohort also includes Abhi, a fintech platform that allows salaried employees to access their payroll if necessary, and Amwal, a platform that allows consumers to pay, send or send money based on their phone number.
We’re excited to announce that we’ve welcomed 16 new startups as part of our second cohort of the year! 🎉
— Hub71 (@hub71ad) August 30, 2022
After a comprehensive evaluation process by Hub71, its ecosystem partners and venture capital funds, 16 startups were selected. Meanwhile, a team of pre-seed, seed and Series A startups has raised more than $67 million in funding.
Badr Al-Olama, Acting CEO of Hub71, said: “Our value-driven initiatives are continuing to attract high-tech start-ups to Abu Dhabi that are driving transformation in key economic sectors. As part of our community of more than 170 start-ups A partner to the company, we always strive to connect founders with our global network of blue-chip companies, government agencies and investors. With our ability to unlock real growth opportunities for founders, we expect this new cohort to grow in the next few Gain huge traction in the vibrant tech ecosystem that Abu Dhabi has to offer within a month.”