Ten startups graduate from 2021 Techstars Hub71 accelerator programme in Abu Dhabi

Ten technology startups have graduated from this year’s Techstars Hub71 accelerator programme after making presentations at the annual Demo Day.

The portfolio companies hope to secure a total of $15m in funding to support their growth.

The startups are from various sectors including AI, fintech, healthtech, augmented reality and logistics. They hail from seven countries- UAE, Singapore, Indonesia, India, UK, Australia and USA.

Each company has already raised $120,000 plus perks from Techstars, joining a global network of over 2500 startups that have received funding from the seed-stage investor.

Participating companies have already demonstrated early traction. Augmented reality platform Assemblr boasts two million app downloads, 23.7 million views and was featured as an Apple ‘App of the day’. Company founder Hasbi Asyadiq is confident it will become the ‘Canva of AR’.

Pax Credit facilitated $3.9m in FX transactions in emerging markets organically before entering the programme, helping international students save money on university fee payments.

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Two UAE companies, Klaim and Strategy Connect, made the list. Klaim.ai, which provides medical claim management and financing, claims it has already entered into 60 medical facility partnerships and a $4.7m pipeline across the UAE and Saudi Arabia since joining the accelerator.

The Techstars Hub71 accelerator provides a 13-week programme focused on developing strategy, execution, fundraising and building networks. The programme runs in partnership with Mubadala Investment Company. Hub71’s support includes access to its incentive programme as well as offering participating startups equity-free office space, housing and insurance.

“Selection was so competitive that we accepted less than 2 per cent of startups for the Techstars Hub71 accelerator program after interviewing over 600 companies,” claimed Vijay Tirathrai, managing director of Techstars.