Hub71 Welcomes 23 Innovative Startups with $53 Million Funding into its Ecosystem

Hub 71

Abu Dhabi’s global tech hub, Hub71, has enthusiastically embraced 23 new startups in its latest cohort, collectively securing over $53 million in funding. These promising startups will join Hub71’s Company Building Programme, receiving up to AED 250,000 in in-kind incentives and an additional AED 250,000 in cash for equity. High-performing startups may also qualify for a top-up of up to AED 250,000 in exchange for additional equity after one year.

Hub71 experienced a remarkable 107 percent surge in applications from more than 100 countries, underscoring Abu Dhabi’s growing appeal as a global innovation hub. The new cohort includes startups from various countries, including the UAE, Egypt, Saudi Arabia, the UK, Canada, India, Armenia, and the United States. This diverse group will contribute to the advancement of sectors aligned with Abu Dhabi’s economic priorities, such as FinTech, ClimateTech, HealthTech, and EdTech.

Seven startups from this cohort will join Hub71+ Digital Assets, a specialized ecosystem focused on Web3 and digital assets. These startups will have access to a network of 13 dedicated partners, including digital asset exchanges, technology providers, venture capital funds, and blockchain platforms. Notable inclusions are UK-based Avantgarde Finance, which has raised $5.5 million, and climate tech innovators Acquai and Carbonsifr, both contributing to a more sustainable future.

Ahmad Ali Alwan, Deputy CEO of Hub71, highlighted the increasing interest from global startups in establishing their presence in Abu Dhabi, leveraging its advantages for innovation and growth. Startups joining Hub71 not only benefit from a customized three-month course with expert mentorship but also gain access to a broad network of corporate, government, investment, and talent partners within Abu Dhabi’s thriving technology ecosystem, opening doors to commercial deals, investments, and market growth opportunities.

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