With the announcement of the inclusion of 21 new firms to its 15th cohort, Hub71, the global technology ecosystem with its headquarters in Abu Dhabi, now supports 243 startups overall. Together, these new businesses have raised more than $130 million in capital; of these, 80% are located outside of the United Arab Emirates, demonstrating the diversity of the world that Hub71 has brought to Abu Dhabi.
Strict Selection of Top Startups
The startups in this cohort were selected for Hub71 from among 1,228 applicants, demonstrating the rigorous and strict selection process used to draw in high-potential businesses. Seventeen of these businesses have their main offices outside of the United Arab Emirates, in the US, UK, France, and Germany.
EpiBone, a US-based health tech business that has earned $43 million in funding, is one of the notable startups that has joined Hub71’s Access program. In the meantime, NBA veteran Rick Fox’s carbon-negative concrete startup Partanna Oasis will be integrating into the Hub71+ ClimateTech network. The business, which has raised $26 million, is renowned for its creative approaches to lowering carbon footprints and promoting sustainability.
Having raised $10 million in funding, Greengage, a UK-based fintech startup that offers solutions for family offices and SMEs, will also be joining the Hub71+ Digital Assets ecosystem.
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Hub71 CEO Ahmed Ali Alwan said “The 15th cohort of startups joining Hub71 demonstrate leadership and the ability to make a significant impact on Abu Dhabi’s technology ecosystem,” said Hub71 CEO Ahmed Ali Alwan. By giving them access to foreign markets and investment opportunities, we hope to hasten their growth and broaden their influence globally.These startups will set up shop in Abu Dhabi with the help of Hub71, solidifying the city’s standing as a major global tech hub. To assist them establish and extend their firms, they will also have access to a strong support network made up of investors, business partners, and specialist resources.
The Hub71+ ClimateTech ecosystem, which supports innovations that improve sustainability and lower carbon emissions, is about to welcome seven businesses from the 15th cohort. Five startups that specialize in creating Web 3.0 and digital asset technologies will also join the Hub71+ Digital Assets ecosystem.
Among the noteworthy businesses that have joined this ecosystem is Plenesys, a firm located in France that is creating methods for producing clean hydrogen by breaking down methane gas in plasma. Compared to conventional electrolysis, this approach lowers the cost of producing hydrogen by 50%, and Plenesys has obtained $3 million in funding.
Another addition is Gateway.fm, a Norwegian blockchain infrastructure provider that provides ready-to-use solutions for businesses looking to implement their own blockchain technology. The business has drawn significant investment to help with its international expansion.
Hub71 is firmly establishing Abu Dhabi as a global leader in technology innovation with this new group of businesses. These businesses will be crucial to the development of important digital fields in Abu Dhabi’s varied economy, such as fintech, edtech, climate tech, mobility, and logistics.
Hub71 offers a range of cash incentives up to AED 500,000, customized coaching, and investment options in order to enable entrepreneurs to thrive in the cutthroat digital industry. After completing the program, high-performing firms may also be eligible for extra support of up to AED 250,000 in exchange for equity.
Hub71 is dedicated to developing its tech ecosystem and drawing in businesses that have the potential to become global players. This will help to establish Abu Dhabi as a top destination for investors and entrepreneurs in a range of tech-related fields.
About Hub71
Hub71 is a global tech ecosystem of startups, investors, corporate trailblazers and future focused government entities. We connect out-of-the-box thinkers with the resources, capital, commercial opportunities, and mentorship they need to bring their visionary ideas to life and unleash their full potential.
