News

Hub71 To Invest $2 Billion In New Web3 Startup Ecosystem

Hub71+ Digital Assets will give startups access to venture capital companies and technology providers in Abu Dhabi and beyond.

Published

1 year ago

February 16, 2023

Nour Nasir

Hub71

Abu Dhabi global technology accelerator Hub71 is seeking to disrupt the Web3 space with the announcement of a new ecosystem focused on startup funding and blockchain technologies.

Over $2 billion has already been committed in capital, enabling the new Hub71+ Digital Assets ecosystem to offer Web3 startups access to venture capital companies, customers, tech providers, blockchain platforms, and much more.

hub71 digital assets launch event

Hub71’s anchor partner is First Abu Dhabi Bank (FAB), and its research and innovation center, known as FABRIC, will, in turn, help FAB to leverage its financial services in the metaverse. Further corporate, government, and investment partners will support the project’s growth across the UAE and beyond.

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“Hub71+ Digital Assets signifies that Abu Dhabi is open to disruptive businesses driving forward change and transformation on a global level. Teaming up with ADGM, FAB and its research and innovation center, FABRIC, alongside the world’s leading Web3 companies and enablers under one roof, will provide founders with an opportunity to fundraise, develop and commercialize innovations safely while operating within the largest regulated jurisdiction of virtual assets in the MENA region,” says Ahmad Ali Alwan, Deputy CEO of Hub71.

The new Hub71 alliance will help startups benefit from ADGM’s diverse ecosystem and efficient regulatory environment, which will help develop the UAE economy to keep pace with global trends.

News

NASA Forms New Partnership With Saudi Space Agency

The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.

Published

2 days ago

May 16, 2024

Nour Nasir

Saudi Space Agency

Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.

Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.

Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl

— وكالة الفضاء السعودية (@saudispace) May 14, 2024

The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.

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During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.