News
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.
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.
“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.
News
Altegio Expands To UAE, Driving Digital Transformation For Local Businesses
The company aims to enhance efficiency for local service businesses, aligning with the UAE’s ambitious digital economy plan for 2031.
Altegio, a digital business ecosystem featuring sophisticated online booking and management solutions, has announced its entry into the UAE market, aiming to enhance operational efficiency and accelerate digital adoption for local enterprises.
This expansion also complements the UAE’s Digital Economy Strategy, which aims to increase the digital economy’s share in the nation’s non-oil GDP to over 20% by 2031. Projections indicate the UAE’s digital sector could contribute an estimated $140 billion by 2032, highlighting the region’s commitment to fostering a modern, tech-driven economy.
Altegio’s platform offers over 30 distinct management tools that automate as much as 80% of routine business operations. Its suite of services includes online booking options, a customizable mobile app, robust financial and inventory management, analytics, SMS and email marketing, and a customer loyalty program.
Altegio’s key differentiator lies in its customer-focused approach to business automation. Unlike many platforms that redirect customers to external sites, potentially exposing them to competitor services, Altegio’s booking system is embedded directly within each company’s own ecosystem. This prevents “cannibalization” of clients and enhances customer loyalty by maintaining a consistent, secure experience.
Also Read: Google Launches Largest AI Initiative In The MENA Region
“Our expansion into the UAE is a strategic move that aligns with the country’s ambitious digital transformation agenda,” explained Yri Petrou, Managing Partner at Altegio. “We are excited to support UAE businesses in embracing digital transformation across their operations. By providing a comprehensive suite of business automation tools, we aim to not only accelerate operational efficiency but also redefine how businesses engage with customers”.
Founded in 2022, Altegio operates as a network of independent firms with offices in the UAE, Brazil, Hungary, Cyprus, Armenia, and several other nations. Each regional hub integrates local partners and technologies to enhance Altegio’s core offerings. The company’s impact includes an annual gross merchandise volume (GMV) of $1 billion, a client base of over 10,000 across 89 countries, and more than 4 million bookings each month on its platform.