UAE: Hub71 welcomes 23 startups as its 13th cohort

UAE: Hub71 welcomes 23 startups as its 13th cohort

ABU DHABI - Hub71, Abu Dhabi's global tech ecosystem, has welcomed 23 new startups as part of its latest cohort, having collectively raised over US$53 million in funding.

Following a rigorous selection process, the successful startups will enter Hub71’s new Company Building Programme and benefit from up to AED 250,000 worth of in-kind incentives and AED 250,000 in cash for equity. High-performing startups from the latest cohort will also be eligible to receive a top-up of up to AED 250,000 in exchange for additional equity, after one year.

Hub71 received a 107 percent increase in applications from over 100 countries, reinforcing Abu Dhabi’s increasing global appeal as an innovative destination of growth for the world’s leading entrepreneurs. The new cohort comprises tech startups hailing from countries across the region, including the UAE, Egypt, and Saudi Arabia, as well as companies from the UK, Canada, India and Armenia, which will establish a presence in Abu Dhabi. Additionally, around 40 percent of the startups in the latest cohort are from the US. This reflects the growing interest from mature tech hubs in Abu Dhabi’s favourable innovation ecosystem. Operating in 11 diverse industries, the startups will support the advancement of sectors aligned with Abu Dhabi’s