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Hub71 Accepts 16 New Tech Startups To Join Its Community

The selected startups specialize in industries including fintech, healthtech, foodtech, cleantech, and logistics.

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2 years ago

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hub71 accepts 16 new tech startups to join its community
Hub71

Launched back in 2019 as a means of bringing together investors, organizations, and strategic partners, the tech ecosystem known as Hub71 has recently accepted 16 new startups into its fold from the USA, UK, Italy, and more to further the progress of innovation and entrepreneurship in Abu Dhabi. The recent news comes as the company plans to expand its operational reach, scaling into other markets along with the UAE.

Over the next two years, the new startup additions will join Hub71’s incentive program that will include large-scale funding, access to a rich ecosystem of academic and corporate investors, and potential government partners. The latest round of financing at Hub71 has raised $467 million overall and will help drive progress in diverse industries, including fintech, healthtech, cleantech, edtech, foodtech, and logistics.

“Our value-driven programs continue to attract high-tech startups to Abu Dhabi that are driving transformation within key sectors of the economy. As partners to over 170 startups in our community, we always strive to connect founders to our global network of blue-chip corporations, government bodies, and investors. With our ability to unlock real growth opportunities for founders, we expect this new cohort to gain tremendous traction over the next few months within the vibrant tech ecosystem that Abu Dhabi offers,” says Badr Al-Olama, Acting CEO of Hub71.

Also Read: Disney+ Releases New MENA Content In September

Hub71’s startups include the Green Future Project, a platform supporting climate projects that track and trace environmental impact, Amwal, a platform enabling people to pay or send money based on their phone number, and Abhi, a fintech startup that lets salaried employees draw on their wages when needed.

In the first half of 2022, Hub71 helped startups land deals worth $700 million in revenues through the ecosystem’s corporate partners. Hub71 has also helped create around 1000 jobs.

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UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

3 days ago

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December 17, 2024

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uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

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