News
Hub71 To Invest $2 Billion In New Web3 Startup Ecosystem
Hub71+ Digital Assets will give startups access to venture capital companies and technology providers in Abu Dhabi and beyond.
Abu Dhabi global technology accelerator Hub71 is seeking to disrupt the Web3 space with the announcement of a new ecosystem focused on startup funding and blockchain technologies.
Over $2 billion has already been committed in capital, enabling the new Hub71+ Digital Assets ecosystem to offer Web3 startups access to venture capital companies, customers, tech providers, blockchain platforms, and much more.
Hub71’s anchor partner is First Abu Dhabi Bank (FAB), and its research and innovation center, known as FABRIC, will, in turn, help FAB to leverage its financial services in the metaverse. Further corporate, government, and investment partners will support the project’s growth across the UAE and beyond.
Also Read: A First Glimpse Of Dubai’s Air Taxis Flying Past Local Landmarks
“Hub71+ Digital Assets signifies that Abu Dhabi is open to disruptive businesses driving forward change and transformation on a global level. Teaming up with ADGM, FAB and its research and innovation center, FABRIC, alongside the world’s leading Web3 companies and enablers under one roof, will provide founders with an opportunity to fundraise, develop and commercialize innovations safely while operating within the largest regulated jurisdiction of virtual assets in the MENA region,” says Ahmad Ali Alwan, Deputy CEO of Hub71.
The new Hub71 alliance will help startups benefit from ADGM’s diverse ecosystem and efficient regulatory environment, which will help develop the UAE economy to keep pace with global trends.
News
Ericsson And e& Join Forces To Bring Superfast 5G To Egypt
The partnership aims to deliver fast, reliable connectivity to private users and enterprises while supporting cross-sector digital innovation.
At GITEX GLOBAL 2024, Ericsson and e& Egypt announced a groundbreaking partnership to roll out 5G technology across Egypt, promising users enhanced connectivity with faster speeds, reduced latency, and expanded bandwidth. The collaboration will cater to the growing demand for advanced mobile services for both consumers and enterprises alike.
Under the agreement, Ericsson will deliver its energy-efficient 5G product suite to establish the new network. This comprehensive 5G Radio Access Network (5G RAN) portfolio, implemented through the Ericsson Radio System, is designed to support diverse traffic conditions and site types. It aims to provide reliable performance as networks grow across mobile generations, equipping Egypt with a stable, high-capacity infrastructure to foster digital innovation.
The adoption of 5G is expected to provide Egyptians with seamless connectivity and increased network resilience. The expanded bandwidth and lower latency brought by this new infrastructure will support not only faster internet for users but also enhance industry operations and contribute to society as a whole.
“We are thrilled to bring 5G to Egypt with our technology partner, Ericsson. Through this partnership, e& Egypt will be able to provide faster connectivity speeds, larger bandwidth, and lag-free user experience to our customers, unlocking many opportunities for consumers and enterprises,” said Amr Fathy, Chief Technology and Information Officer of e& Egypt. “With Ericsson’s cutting-edge 5G solutions, we are paving the way for a more connected and innovative future for Egypt”.
Also Read: Wi-Fi 7, The Next Generation Of Wireless Internet, Is Here
Ekow Nelson, Vice President and Head of Global Customer Unit for e& at Ericsson Middle East and Africa, also reflected on the longstanding collaboration: “Our storied partnership with e& Egypt dates back nearly two decades, with two generational shifts in mobile technology. Like previous generational shifts, our ambition with 5G is to extend e& Egypt’s technology position”.
Ericsson and e& Egypt have collaborated successfully for years, achieving notable milestones in network innovation, customer experience, and sustainable development.