Abu Dhabi's Hub71 accepts second cohort of tech startups
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Abu Dhabi’s Hub71 accepts second cohort of tech startups

Abu Dhabi’s Hub71 accepts second cohort of tech startups

The second cohort includes 16 startups that have collectively raised more than $67m in funding

Divsha Bhat
Hub71 startups

Hub71, Abu Dhabi’s global tech ecosystem, has selected its latest cohort of tech startups. For the next two years, the new cohort will participate in Hub71’s Incentive Program, benefitting from equity-free incentives worth up to Dhs500,000. They will also have access to active investors, corporate, government and academia partners.

The selected startups hail from nine countries including the USA, Italy, and the UK. They are specialised in sectors ranging from fintech, healthtech, cleantech, edtech, foodtech and logistics. The cohort also features the first tech business from Luxembourg affiliated with Hub71, in addition to locally developed startups from the UAE. Green Future Project, a platform for people and companies to support top climate projects internationally and to track and trace environmental effect, is among the eclectic group of startups. The cohort also includes Abhi, a fintech platform that lets salaried employees to access their salary when necessary, and Amwal, a platform that enables consumers to pay, send, or remit money based on their phone number.

After a thorough evaluation process involving Hub71, its ecosystem partners, and VC funds, 16 startups were selected. Meanwhile, the cohort comprising pre-seed, seed and Series-A startups have already raised more than $67m collectively.

Read: Abu Dhabi’s Hub71 welcomes 16 new startups to join ecosystem

Badr Al-Olama, acting CEO of Hub71, said: “Our value-driven programmes are continuing to attract high-tech startups to Abu Dhabi that are driving transformation within key sectors of the economy. As a partner to over 170 startups in our community, we always strive to connect founders to our global network of blue-chip corporations, government bodies and investors. With our ability to unlock real growth opportunities for founders, we expect this new cohort to gain tremendous traction over the next few months within the vibrant tech ecosystem that Abu Dhabi has to offer.”

Read: Teen-focused fintech startup Zywa raises $3m seed round

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