Hub71: Abu Dhabi's Leading Startup Incubator for Business Setup in UAE

Summary

Today's live session delves into Hub71, Abu Dhabi's premier startup incubation center, highlighting its rapid growth and impact on the Mina region's startup ecosystem. Since 2019, Hub71 has facilitated over 5.4 billion AED in funding, contributing 3 billion AED to Abu Dhabi's economy and creating over 1,100 jobs. The incubator boasts 77 corporate deals worth 658 million AED and hosts over 200 startups from 54 countries across 22 tech sub-sectors. Hub71 offers three programs: Initiate for early-stage startups, Access for funding and growth, and Bright for high-potential startups with mentorship. It also features specialized ecosystems like Hub71 Digital Assets and Hub71 Climate Tech. The session concludes with Abu Dhabi's future plans to become a startup hub, inviting global startups to join and expand within the region.

Takeaways

• 🌟 Hub71 is a premier startup incubation center in Abu Dhabi, playing a central role in the growth of the city's startup ecosystem in the MENA region.
• 💹 Since its inception in 2019, Hub71 has facilitated over 5.4 billion AED in funding for its startups, with more than 1.2 billion AED raised in 2022 alone.
• 🏢 Hub71 has contributed significantly to Abu Dhabi's local economy, generating over 3 billion AED in revenue and creating more than 1100 jobs.
• 🤝 The incubator has fostered 77 corporate deals, amounting to 658 million AED, showcasing the strong partnerships and investor confidence in Hub71's startups.
• 🌐 Hub71 hosts over 200 startups from more than 54 countries, spanning 22 sub-sectors within the tech ecosystem, highlighting its diverse and global reach.
• 🚀 Three main programs are offered by Hub71: the Initiate program for early-stage startups, the Access program for funding and network expansion, and the Bright program for high-potential startups with mentorship from industry experts.
• 🔗 Hub71 Digital Assets, in partnership with Alixir Capital, is tailored for companies in blockchain, web3, and crypto, while Hub71 Climate Tech, operated by New Energy Nexus, focuses on sustainable technologies for a Net Zero future.
• 🌱 Abu Dhabi, through Hub71, aims to become a leading startup ecosystem hub in the MENA region, with plans for future incubators and expansion.
• 🤗 Hub71 is open to startups at various stages, from early-stage to those that have already achieved revenue and international expansion, offering support in business growth, funding, and mentorship.

Q & A

What is Hub71 and what is its significance in Abu Dhabi?

Hub71 is a premier startup incubation center in Abu Dhabi, designed to foster the growth of the startup ecosystem in the region. It plays a significant role by providing a platform for startups to access funding, mentorship, and networking opportunities.

How much funding has been raised by the startups at Hub71 since its inception?

Since its inception in 2019, startups at Hub71 have raised more than 5.4 billion AED in funding.

What was the amount of funding raised by Hub71 startups in the year 2022 alone?

In 2022, Hub71 startups raised over 1.2 billion AED.

How has Hub71 contributed to Abu Dhabi's local economy?

Hub71 has contributed more than 3 billion AED to Abu Dhabi's local economy and has created over 1100 jobs through its incubated startups.

How many corporate deals have been made by Hub71 startups, and what is the total value of these deals?

Hub71 startups have made more than 77 corporate deals, with a total value of over 658 million AED.

What is the community growth like at Hub71?

Hub71 hosts more than 200 startups from over 54 different countries, covering 22 sub-sectors in the tech ecosystem.

What are the three programs that Hub71 offers to startups?

Hub71 offers three programs: the Initiate program for early-stage startups, the Access program for startups seeking the next level of funding, and the Bright program for high-potential startups that also provides mentorship.

What is unique about the Hub71 Digital Assets ecosystem?

Hub71 Digital Assets is an ecosystem tailored for companies involved in blockchain, web3, and crypto, operated in partnership with Alixir Capital.

How does Hub71 Climate Tech differ from other ecosystems at Hub71?

Hub71 Climate Tech is an ecosystem operated by New Energy Nexus, focusing on startups that create sustainable technology aimed at achieving a Net Zero future.

What are the future plans for Hub71 in terms of expanding the startup ecosystem in Abu Dhabi?

Hub71 aims to continue expanding the startup ecosystem in Abu Dhabi, with plans to become a leading incubator and a hub for the startup ecosystem in the Middle East and North Africa region.

How can startups that are already at a revenue level or have expanded to different countries get involved with Hub71?

Startups at any stage, including those with revenue or international expansion, can still join Hub71 to access its ecosystem, funding opportunities, and mentorship programs.