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.

“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.

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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.