News

Abu Dhabi’s Hub71 To Help Climate Technology Startups

The initiative was announced at the COP28 summit and will help selected startups with a $200,000 cash injection and further incentives.

Published

12 months ago

December 5, 2023

Nour Nasir

Hub71

Hub71, Abu Dhabi’s global technology system, has launched a new initiative to support climate technology startups backed by several of the UAE’s largest public and private sector organizations.

Known as the Hub71+ ClimateTech ecosystem, the program was announced at the COP28 climate conference in Dubai, with funding commitments from 25+ local and international partners already in place.

A total of 342 startups have submitted applications so far, with the top companies being added to a shortlist that will be revealed shortly. Selected startups will receive Dh250,000 ($68,000) in incentives and an upfront cash support package of Dh250,000. In addition, the top performers of Hub71’s new initiative will also receive a top-up of up to Dh250,000 in exchange for additional equity.

Ahmad Alwan, deputy chief executive of Hub71, said: “This initiative aims to bring in different entities that have a shared mission towards climate tech […] Throughout the journey, we will support these companies, not only from being startups to becoming mature companies but also to facilitate their engagement with entities that would support them with access to capital, market, and talent”.

The Hub71+ ClimateTech ecosystem is backed by the Abu Dhabi National Energy Company and the National Central Cooling Company, who have each pledged Dh500,000 to the initiative as anchor partners.

Also Read: Wisdom Motor Brings First Zero-Emission Bus To GCC

They are joined by corporate partners, including Abu Dhabi holding company ADQ, Aldar Properties, sovereign wealth fund Mubadala, First Abu Dhabi Bank, Masdar City, and Dubai’s Emirates NBD. In addition, Siemens Energy is also onboard as an anchor partner.

So far, Hub71 has helped 260 member startups and created over 1,000 jobs, according to the organization’s website. In addition, it has collectively raised around Dh5 billion since its foundation in 2019.

News

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

4 days ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.