16 April 2024 – April 16, Abu Dhabi [UAE] (ANI/WAM): As part of its most recent cohort, Hub71, Abu Dhabi’s global innovation ecosystem, has welcomed 25 new startups. The chosen startups will join Hub71’s “Access” programme and the specialised ecosystems Hub71+ ClimateTech and Hub71+ Digital Assets, increasing the total number of businesses enrolled in Hub71’s programmes to 223. With an average of USD 5 million raised by each startup, Hub71’s Cohort 14 has raised more than USD 122 million in capital.
Hub71 continues to draw a wide spectrum of foreign digital startups to Abu Dhabi; of the 1,200 applications it has received, over 65 percent come from outside markets.
Abu Dhabi’s global appeal as a leading tech hub and launchpad for startup growth is further reinforced by the onboarded startups, which come from countries across the region, such as the UAE, Egypt, and Saudi Arabia, as well as ventures from the United States, the United Kingdom, Canada, Singapore, Sweden, New Zealand, Spain, and South Korea.
Furthermore, 64 percent of the cohort are Seed and Series A companies, demonstrating Hub71’s capacity to build high-potential startups from their inception. The startups, which operate in nine different sectors, including FinTech, ClimateTech, HealthTech, EdTech, and Mobility and Logistics, will be essential to securing the future of important areas of Abu Dhabi’s economy.
Conclusion
The cohort’s five startups will become the first group to join Hub71+ ClimateTech, a specialised ecosystem devoted to developing solutions that promote decarbonization and enable net-zero outcomes.
Source:Link
