Startups

Abu Dhabi’s Hub71 has welcomed 23 new startups in its latest cohort, collectively securing over $53 million in funding. These startups will join the Company Building Programme and receive substantial incentives and cash for equity. The surge in applications reflects Abu Dhabi’s growing appeal as an innovation hub. The startups span various sectors, including FinTech and ClimateTech. Some will join Hub71+ Digital Assets, benefiting from a network of partners. Two ClimateTech startups focus on sustainability. Hub71 offers mentorship, support, and a vast network, enhancing startups’ growth prospects in Abu Dhabi’s tech ecosystem.

Awfar.com, a leading e-commerce solutions provider, has joined forces with Value Maker Studio (VMS) to empower Saudi startups. Awfar.com’s expertise in customer engagement and e-commerce complements VMS’s venture studio capabilities. This partnership aims to nurture entrepreneurial talent, simplify market entry, and drive innovation in the Saudi Arabian startup scene. Additionally, VMS is launching a “Bridge Program” in 2024, assisting Egyptian tech startups in expanding into the Saudi market, offering vital resources and connections to investors and mentors.