A flagship initiative of the Ghadan 21 accelerator program, Hub71 supports Abu Dhabi’s global tech ecosystem, providing tech startups with access to capital, market opportunities, a favorable business environment, in addition to world-class talent and a vibrant tech community of founders, investors and policymakers.
Backed by the government of Abu Dhabi and Mubadala Investment Company, Hub71 works alongside strategic partners Microsoft, Abu Dhabi Global Market and SoftBank’s Vision Fund, to create the optimal environment for tech startups from around the world seeking to build outstanding tech innovations, and scale globally. Hub71 is on a mission to cement Abu Dhabi’s position as a world-leading tech hub for innovation aligned with international best practices.
As a flagship of the Ghadan 21 initiative, Hub71 is a key cornerstone in the UAE’s strategy for the next 50 years to stimulate entrepreneurship, innovation and accelerating the digital economy by fostering Abu Dhabi’s tech sector, attracting global talent, and raising global awareness of the growing potential in the region.
Its diverse community of startups, originating from 20 countries including USA, Canada, UK, Singapore, UAE and Egypt, grew almost 200 per cent in 2020. Startup founders are of 43 different nationalities and 18% of startups at Hub71 are female-led.
The global tech ecosystem has secured more than 2,100 applications since its launch and supported almost 250 startup employees, making their process of relocating to Abu Dhabi easier and more affordable. With 102 startups specialized in 16 sectors, Hub71 is contributing to advancing a broad range of industries, accelerating Abu Dhabi’s digital transformation.
Hub71 attracted 13 VCs to its community to date, with an aggregate asset under management of more than USD 500M. Building its capital community, Hub71 helped 29 of its 102 startups raise AED 185 million (USD 50.4m) in under nine months, despite the pandemic.
Since its launch, Hub71’s community has facilitated job creation for startups, which have onboarded 250 team members with further plans to hire 340 people over the next 12 months. Additionally, as part of Hub71’s commitment to nurturing knowledge and talent, over 150 hours of mentorship and 51 internship opportunities have been delivered through its partnerships, while it has facilitated more than 1,600 meetings and 105 events to advance its innovation hub.