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

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

Abu Dhabi’s tech ecosystem Hub71 has accepted 16 startups to join its community as part of accelerating the emirate’s position as an innovation hub. The accepted cohort includes early-stage startups with representation from technology hubs including the UK, US and South Korea. Among them are Pakistan’s first digital bank, TAG; UAE-based Trade Capital Partners, a platform that boosts access to working capital for startups and small to medium-sized enterprises in emerging markets; and Zywa, the first neobank for teenagers across the MENA region. Also joining are UAE-founded Letswork, an app that allows members to book workspaces and work remotely; and Ostaz which offers a private tutoring platform for students, a statement said. The new startup cohort, which has already raised over Dhs231m in funding, will be able to develop advanced technologies and will stand to benefit from Hub71’s accelerator programme and structured programmes to boost investment potential. Additionally, the cohort will gain access to Abu Dhabi’s innovation ecosystem with opportunities to scale and facilitate knowledge exchange. Badr Al-Olama, acting CEO of Hub71, said: “Our first cohort of the year reflects our ambition of matching our pace with that of global tech startups that have the highest growth potential. What makes