Hub71, Abu Dhabi’s global tech ecosystem is a community of founders, investors and business enablers. Named after the UAE’s formation in 1971, Hub71 is creating the optimal environment for transformative tech companies looking to maximize success, produce outstanding tech innovations and scale globally.
On 2nd November 2020, Hub71 announced the latest cohort of startups selected to join its rapidly growing startup community. Most of the selected startups are led by female founders. The selected startups were chosen from hundreds of applicants. These startups will benefit from Hub71’s Incentive Programme, which reduces the cost of living and business set up costs for entrepreneurs seeking to expand their businesses in the region.
In September 2018, Addenda was a winner of the Hub71 MENA Growth Competition. This gave Addenda the opportunity to relocate to Abu Dhabi, get two years’ worth of subsidized living, office space and healthcare costs, offered as part of Hub71’s Incentive Programme.
Hub71 has selected 19 new startups for its 3rd cohort this year. The startups specialize in 11 sectors, including AI and Big Data, EdTech, AgriTech and HealthTech. These sectors accounted for 30% of applications received, reflecting the demand for these technologies in response to the pandemic and to service future digitalized industries. 30% of businesses are founded by women, marking a growing number of female founders choosing to immerse themselves in Hub71’s diverse community.
Some of the successful startups selected include:
· Swiss-founded 1702ai, the accurate SaaS Weapon Detector that utilizes existing security cameras, powered by the latest AI and Deep Learning algorithms.
· UAE-based Mental, a virtual reality platform that enables companies to simulate the work and training environment from anywhere in the world.
· British-founded Algocyte, the first self-monitoring blood count home device that uses AI to analyze blood within five minutes.
· UAE-based and female-founded WhiteBox HR that creates predictive insights, bias-free, at every stage of the talent lifecycle to simplify the process for companies to decide who to hire, engage or retain.
· Egyptian and female-founded Yanzo, a virtual assistant that can be used to book, buy, find, and deliver services whether it’s for shopping, running errands and making travel arrangements.
Hub71 has grown its startup community to more than 75 global startups benefiting from Hub71’s extensive resources, global reach and community access. They are providing access to capital by attracting top VC funds and investors to increase the pool of capital available to startups and VCs in Abu Dhabi.
Hub71’s partner, Abu Dhabi Global Market (ADGM) helps them to provide access to a favorable business environment, which is best placed to improve the ease of doing business for startups.
Hanan Harhara Al Yafei, CEO of Hub71 said, “The diverse nature of our latest cohort of Hub71 startups reflects our commitment to boosting Abu Dhabi’s global appeal as a world-leading tech hub suited to the best and brightest startups from around the world.”
Each quarter, Hub71’s Selection Committee chooses the most promising startups that meet its criteria to join the global tech ecosystem’s incentivized community. It offers equity-free subsidies including up to 100 percent free housing, health insurance and WeWork x Hub71 office space for up to three years.
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