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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.

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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“.

Also Read: Hybrid Cloud As A Driver Of Digital Transformation In Saudi Arabia

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.

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Max Fashion Brings AI Virtual Try-Ons To Gulf Online Shoppers

Landmark Group’s value fashion brand is using Google Cloud’s generative AI to tackle the returns problem that has dogged ecommerce since its beginning.

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max fashion brings ai virtual try-ons to gulf online shoppers

Buying clothes online has always involved a gamble. A garment that looks right on a model may hang differently on the person ordering it, and the result is a cycle of returns that costs retailers money and customers patience. Max Fashion, part of Dubai-based Landmark Group, is betting that generative AI can improve the experience.

The brand has launched what it describes as one of the region’s first virtual try-on experiences, built on Google Cloud’s Virtual Try-On API and generative AI vision models delivered through the Gemini Enterprise platform. Starting in the UAE, shoppers browsing Max’s digital platforms can see realistic previews of how garments drape, fit and move across different body types before committing to a purchase.

google cloud max fashion partnership

For many online shoppers, uncertainty is the single biggest barrier between scrolling and buying. “It helps address real purchase barriers, particularly around fit and confidence, while allowing us to create a richer and more engaging shopping journey,” explained Hani Weiss, chief executive officer of Max Fashion, who framed the rollout as part of the brand’s ambition to make fashion more accessible.

Bala Subramaniam, senior vice president and head of omnichannel at Max, seemed even more enthusiastic about the technology: “For the first time, a customer browsing on their phone has the same confidence as one standing in our fitting room”.

Also Read: Instagram Now Lets You Tune Its Algorithm, But There’s One Big Catch

Whether AI previews can genuinely match a fitting room remains to be proven at scale. The technology’s value will depend on how accurately it renders fabric and fit across the full range of bodies that shop at a value fashion brand, and on whether shoppers trust what they see enough to change their behavior.

For Google Cloud, the deployment is also a statement about where regional retail is heading. “AI-driven personalization is no longer a luxury, it is a core business imperative for forward-thinking retailers,” says Ziad Jammal, general manager for Google Cloud UAE, Levant and North Africa. If the returns data eventually backs that up, the rest of the region’s retailers will be watching closely.

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