News
Hub71 Accepts 16 New Tech Startups To Join Its Community
The selected startups specialize in industries including fintech, healthtech, foodtech, cleantech, and logistics.
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.
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.
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.
Also Read: Plans Underway For Massive Middle East Autonomous Freight Network
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.
-
News1 week ago
UAE Stores May Soon Accept Payments Through Your Palm
-
News2 weeks ago
chatlyn Unveils Hospitality Chatbot At Arabian Travel Market 2024
-
News1 week ago
Orchid Plans To Find Out What’s Wrong With You Before You’re Born
-
News1 week ago
Apple Announces New iPad Pro With M4 Chip And Updated iPad Air