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Hub71 Refreshes Its Company Building Program

Startups may be eligible for up to $204,000 to help accelerate growth and hasten their contribution to the local economy.

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hub71 refreshes its company building program

At this year’s GITEX Global conference, Abu Dhabi’s global tech ecosystem, Hub71, has announced a refreshed startup incentive known as the Company Building Program, where eligible businesses can receive up to $204,000 to accelerate their growth — a 50% increase over the original funding figure.

Upon completion of the program, top-performing startups could also be selected by Hub71 for an additional cash incentive of nearly $70,000 in exchange for additional equity.

The new incentive is a “natural progression” for Hub71, expanding on its pledge to support early-stage technology companies.

hub71 abu dhabi deputy ceo ahmad ali alwan

“This impact and shift to provide greater value to our startup community solidifies our commitment to founders as we aim to enhance the growth trajectory of innovative companies with the simplicity and flexibility needed to ensure they succeed,” Deputy CEO Ahmad Ali Alwan said.

“Our dedication will go beyond financial support; we are deeply invested in the success of startups in our community and will remain engaged in ensuring their sustainable growth and development in Abu Dhabi and beyond,” he continued.

Also Read: Social Media Addiction Is Greatly Impacting Arab Youth

Startups joining the Hub71 Company Building Program unlock an extensive network of corporations, government entities, and investment opportunities. The program also gives startups access to mentorship, advice, and support, which positively affects their ability to grow and contribute to the economy.

Globally, the startup sector is valued at a massive $3 trillion. By 2030, The UAE aims to create a home for 20 “unicorns” — startups with a valuation of $1 billion or more. Hub71’s new program should aid those ambitions, boosting the number of high-performing tech companies headquartered in Abu Dhabi.

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Checkout.com Brings Visa Direct Push-To-Card To The UAE

The payment company is the first acquirer in the UAE to launch Visa Direct’s solution, enabling safe, instant money transfers.

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checkout.com brings visa direct push-to-card to the uae

Checkout.com has taken the UAE a step closer to its goal of a fully digital economy by becoming the first acquirer in the country to offer Visa Direct’s Push-to-Card solution. The new service will streamline money transfers for both businesses and consumers, enabling near-instant transactions across local and international markets.

Visa Direct connects over 190 markets and supports over 8.5 billion endpoints, including cards, bank accounts, and digital wallets. Push-to-Card transactions enhance efficiency for business users and consumers by allowing money to be sent quickly and easily to eligible Visa cards while leveraging the company’s secure network for reliability.

checkout and visa uae partnership

“Visa Direct is transforming the way money moves globally, and we are excited to see Checkout.com leverage this technology to meet the evolving demands of businesses and individuals alike by offering them a faster, more convenient, and secure way to send and receive funds,” said Shahebaz Khan, Senior Vice President and Head of Commercial and Money Movement Solutions, CEMEA.

The UAE has been at the forefront of digital payment adoption, driven by a national push toward a cashless economy. Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, emphasized this shift: “By providing seamless, secure, and real-time payout capabilities, we’re empowering merchants with the agility to thrive in this fast-evolving landscape, while effectively meeting the growing consumer demand for speed and convenience. The Push-to-Card solution not only reinforces our commitment to powering payment performance but also showcases our agility in bringing yet another innovation to the UAE market.”

Also Read: Qareeb Partners With Pantheon For GCC Bitcoin Mining Expansion

Checkout.com’s latest MENA eCommerce data highlights the region’s increasing engagement with financial technologies, with around 80% of consumers participating in activities beyond basic online payments, such as money transfers and personal wealth management. The growing demand for real-time financial transactions has made fast, seamless payment solutions a priority.

To meet this demand, Account Funding Transactions (AFTs) have gained traction in the UAE. By integrating AFTs with Visa’s Push-to-Card services, Checkout.com is helping merchants offer secure, real-time account top-ups. Currently processing over one million AFTs per month with Visa, Checkout.com is now playing a leading role in modernizing financial transactions in the region.

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