Thu 26-09-2019 14:42 PM
ABU DHABI, 26th September, 2019 (WAM) -- A new cohort of startups have been admitted to the Hub71 Incentive Programme in a bid to grow their companies and set up operations at the tech ecosystem, Hub71.
Originating from different sectors and countries, the seven startups include British fintech company, dopay; Egypt-based Furnwish; Tunisian ProvenMed International; Trukker; and three UAE-based startups: Addenda, SchoolVoice and SportyQ.
Identified as exceptional high-growth tech companies, these new startups will be joining Hub71’s community -- strategically located in Abu Dhabi Global Market, ADGM -- in the coming weeks; making a total of 18 early stage companies that have pre-qualified for admission into the programme.
The startups stand to benefit from generous packages which include subsidised living, office space and health insurance for founders and their employees.
Commenting on the announcement, Mahmoud Adi, CEO of Hub71, said, "We’re on track to hit our goal of bringing between 20 and 30 quality startups to Hub71 by year-end and our first 18 startups demonstrate that we’re building a tech community that ranges in size, growth stage and sector.
The Abu Dhabi tech hub looks to attract high-growth tech companies that can demonstrate a ‘disruptive approach’ or ‘developed disruptive technology’ and have secured funds of at least USD $100,000 within the first years of operation.
"As part of their growth strategy, the new startups joining Hub71 will create new tech jobs in Abu Dhabi. The MENA region is ripe for disruption and Abu Dhabi is leading the charge by providing access to capital and market opportunities to catalyze home-grown innovations. Over the last few months, the Emirate has increased its bandwidth to support more B2B and B2C startups from all around the world. We’re proud to play our role in welcoming these startups to Hub71 and helping them thrive," Adi explained.
Applications for Hub71’s Incentive Programme will be opened to the public later this month targeting seed and emerging tech companies led by dedicated founders with scalable, quality tech solution and ideas.
Earlier last month, Hub71 also announced its partnership with OYO to provide accommodation for Hub71 companies; and WeWork, Hub71’s workspace provider offering single desks and co-working office space starting from AED 1,470 per month, set to open in Q1 2020.