Abu Dhabi’s global tech ecosystem Hub71 accepts 16 startups

Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its community.
By launching operations in Abu Dhabi, the new startup cohort, which has already raised more than AED 231 million in funding, will have the opportunity to develop advanced technologies and gain access to the market, investment, and talent Hub71 provides, media reports said.
The accepted cohort includes early-stage startups with diverse representation from leading international tech hubs including the UK, USA and South Korea.
Among the cohort is 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 in the Middle East and North Africa region.
Also accepted in the cohort is UAE-founded Letswork, an app that allows members to book workspaces and work remotely from hotels, cafes, co-working spaces and other unique venues, as well as Ostaz which offers a private tutoring platform for students to accelerate academic progress.
The new cohort will benefit from Hub71’s accelerator program, structured programmes to boost investment potential, and a new range of flexible incentives, that allow founders to choose the level of support based on their startup needs, the reports said.
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.”
Since its inception, Hub71’s startups have raised AED1.5 billion of investment and landed deals worth AED 36 million through the tech ecosystem’s corporate partners, while also generating approximately AED 1.2 billion in revenue.