News

Startup Funding At Abu Dhabi’s Hub71 Reaches $871M

According to the deputy chief executive, companies within the organization have generated over $680 million and created hundreds of direct jobs.

Published

2 years ago

October 14, 2022

Nour Nasir

startup funding at abu dhabi's hub71 reaches $871m

Hub71, Abu Dhabi’s global technology ecosystem, has raised more than $871 million in funding for startups and created 800 jobs since its creation in 2019, until September of this year, according to the latest figures. The organization now boasts around 200 members, and is contributing significantly to the region’s economy, intending to grow 20 startups into companies worth over $1 billion.

“There was a resurgence in investor interest at Hub71 after the effects of the COVID-19 pandemic wore off. The momentum has been helping the ecosystem and partner network to support Abu Dhabi, which is increasingly positioning itself as one of the global epicenters of technology. There was a huge thirst to get out there to engage with partners to identify opportunities, and that momentum continues to this day,” says Ahmad Alwan, Hub71 deputy chief executive.

Abu Dhabi has invested heavily in initiatives that contribute to technology and innovation, and Hub71, in particular, is helping the country to promote entrepreneurship as the UAE government aims to become “the entrepreneurial nation by 2031“.

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Globally, the money generated by startups is close to $3 trillion — a staggering figure that almost matches the output of the G7 economy — Mr. Alwan said Hub71 had “several initiatives in the pipeline that are being planned with its partners”, which are rumored to include wealthy venture capital companies and funds, with the hope that one day, a local Abu Dhabi startup will become a global technology corporation.

Hub71 is open to the idea of expanding its “bilateral relationships” with partners in different regions, though right now, the ecosystem is focused on helping to develop its member companies by taking advantage of its existing partnerships.

In August, Hub71 welcomed 16 new startups to its platform and recently joined forces with Siemens Energy to support Abu Dhabi’s fight against climate change.

News

Samsung Galaxy Ring Wearable Will Launch In Eight Sizes

A recent Korean report reveals the model numbers of the new health tracking device, as well as details of its key features.

Published

1 day ago

April 25, 2024

Nour Nasir

samsung galaxy ring wearable will launch in eight sizes

The global launch of the Samsung Galaxy Ring is hotly anticipated, with details about the next-gen wearable gradually emerging since the company’s teaser announcement back in January. Now, a report has also unveiled the model numbers for the device, suggesting it will be available in eight different sizes.

While Samsung has yet to divulge detailed specs and features of the Galaxy Ring, it’s likely to feature an array of health and sleep monitoring functionalities, while boasting a battery life of up to nine days on a single charge.

As per a Galaxy Club report, there are currently eight confirmed variants of the Galaxy Ring: SM-Q500, SM-Q501, SM-Q502, SM-Q505, SM-Q506, SM-Q507, SM-Q508, and SM-Q509.

However, the mystery shrouding two absent model numbers persists, leaving speculation as to whether they signify additional sizes or if Samsung plans to unveil a later ninth variant of the ring, as previously hinted. There’s conjecture that these models may correspond to US ring sizes 5 and above, commencing with the SMQ500, with subsequent numbers potentially indicating larger ring sizes, possibly reaching up to size 13, aligning with model number SM-Q509.

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Recent Korean reports have shed light on how Samsung’s Mobile eXperience division (MX) collaborated with the Home Appliance department to integrate Samsung Food with the Galaxy Ring: Tailored for daily activity tracking, the Galaxy Ring, when paired with Samsung Food and an intelligent Samsung refrigerator featuring AI vision, delivers personalized dietary guidance based on calorie intake and BMI.

Samsung is banking on the user-friendly interface and high durability of the ring to redefine the healthcare wearables landscape. Meanwhile, Apple is also making strides in the development of a smart ring, aimed at monitoring users’ health biometrics discreetly when worn on the finger. According to the Electronic Times report, Apple has been closely monitoring market interest in this more inconspicuous alternative to a traditional watch.