https://adgully.me/post/5290/hub71-announces-new-leadership-updates

Hub71 announces new leadership updates

Hub71 today has announced new appointments within its leadership team to continue scaling Abu Dhabi’s global tech ecosystem.In a strategic move aimed at positioning Abu Dhabi as one of the leading startup hubs globally, Ahmad Ali Alwan has transitioned from Deputy Chief Executive Officer to Chief Executive Officer of Hub71 as of January 2024.Alwan joined Hub71 as a founding member in 2019 and was appointed Deputy Chief Executive Officer of Hub71 in October 2022. Since then, Alwan has played a critical role in spearheading Hub71’s strategic development to become one of the region’s premier tech startup hubs supporting more than 260 startups that have raised over AED 5 billion in capital. Alwan’s appointment comes amid senior leadership moves internally, including the appointments of Basma Ahmed AlBadi AlDhaheri as Head of Value Creation, Hashem Al Kaabi as Head of Operations and Corporate Services, Mohammed Alkhoori as Head of Marketing and Communications, and Peter Abou Hachem as Head of Growth and Strategy.His Excellency Ahmed Jasim Al Zaabi, Chairman of Hub71, said: “Within Abu Dhabi’s soaring ‘Falcon Economy’, Hub71’s transformative impact on the startup landscape is undeniable. Under the ambitious leadership of Hub71, startups globally have a destination where innovation thrives, and growth unlocks endless possibilities. Ahmad has witnessed Hub71 growth stages and played a pivotal role in building the global tech ecosystem in Abu Dhabi. The journey ahead is an exciting, and we are confident that his deep knowledge and experience in helping startups and founders grow and scale disruptive technology companies from the UAE will shape the future of Abu Dhabi’s tech ecosystem.”In 2023, Hub71 helped solidify Abu Dhabi’s ranking as the fastest-growing tech ecosystem in the Middle East and North Africa (MENA) and among the fastest-growing worldwide, according to Startup Genome and the Global Entrepreneurship Network.Before becoming Deputy Chief Executive Officer, Alwan was a part of the UAE Clusters Asset Management team at Mubadala’s UAE Investment Platform where he managed a portfolio of UAE-based aerospace and technology assets. Prior to that, Alwan played a critical role in launching Abu Dhabi Catalyst Partners in 2019. In addition, Ahmad was previously part of Mubadala’s Portfolio Strategy team and contributed to formulating the corporate strategy, overlaying internal and stakeholder objectives as well as supporting Mubadala’s leadership with special projects.
https://adgully.me/post/4869/emirates-nbd-announces-partnership-with-hub71-to-accelerate-fintech-innovation

Emirates NBD announces partnership with Hub71 to accelerate FinTech innovation

 Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has announced a partnership with Abu Dhabi’s global tech ecosystem, Hub71, to empower customers with cutting-edge FinTech solutions and drive a new era of advanced banking services.As a leading local bank with regional and international operations, Emirates NBD's alliance with Hub71 opens doors to an array of possibilities that include expanding market reach to Abu Dhabi and introducing innovative financial solutions that cater to evolving customer needs, strengthening the bank's commitment to driving industry-wide advancements.Abdulla Qassem, Group Chief Operating Officer at Emirates NBD, said: “As a leading local bank that has always been committed to driving innovation in the region, Emirates NBD leads the future of banking to enhance financial prosperity for its customers, people and communities. This collaboration marks a significant step towards elevating customer experiences as Emirates NBD Bank harnesses the entrepreneurial spirit of Hub71 to offer tailored solutions and streamlined services for our valued customers.”Hub71 has onboarded more than 260 startups, which have collectively raised nearly AED 5 billion since its inception in 2019.[1] The global tech ecosystem provides the world’s most promising startups with incentives, programs and access to a vibrant community with a network of more than 140 local and regional corporate, government and investment partners to support their development and growth from Abu Dhabi to international markets. The UAE leads the Middle East and North Africa (MENA) FinTech market, reaching a record-high investment of USD 2.5 billion in 2022.[2]Ahmad Ali Alwan, Deputy CEO of Hub71, commented: “At Hub71, we champion the growth of innovative startups scaling technology applications that can transform the future of finance and other sectors. Our partnership with Emirates NBD will pave the way for startups to validate products, secure commercial deals, and receive expert mentorship. By partnering with one of the UAE’s most progressive banks, we are creating a powerful combination for FinTech startups pursuing growth.” The UAE is a frontrunner in the global FinTech landscape, exhibiting remarkable growth potential, following significant innovation in digital banking, wealth management, remittances and payments.
https://adgully.me/post/4183/hub71-welcomes-23-startups-in-its-13th-cohort

Hub71 welcomes 23 startups in its 13th cohort

Hub71, Abu Dhabi's global tech ecosystem, has welcomed 23 new startups as part of its latest cohort, having collectively raised over $53 million in funding. Following a rigorous selection process, the successful startups will enter Hub71’s new Company Building Program 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 per cent 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% of the startups in the latest cohort are from the US. This reflects the growing interest from mature tech hubs in Abu Dhabi’s favorable innovation ecosystem. Operating in 11 diverse industries, the startups will support the advancement of sectors aligned with Abu Dhabi’s strategic economic priorities, including FinTech, ClimateTech, HealthTech and EdTech.Seven startups in the cohort will join Hub71+ Digital Assets, the specialist ecosystem focused on unleashing the growth potential of Web3 and digital assets. Startups in Hub71+ Digital Assets can tap into a network of 13 dedicated partners, including leading digital asset exchanges, global technology providers, venture capital funds, blockchain platforms and other commercial and investment opportunities required to scale. Startups joining Hub71+ Digital Assets include UK headquartered Avantgarde Finance which has raised $5.5 million in funding and provides a platform for digital asset investment managers to plug into, launch their strategies and grow at scale.With a growing focus on the potential of innovation and technology in supporting climate action in the UAE, Hub71 selected two ClimateTech startups that developed innovative technologies helping to shape a more sustainable future. Acquai, which has raised $1.5 million (AED 5.5 million), is a software and hardware service company delivering data from waterways using 3D printed, bio-inspired fishlike drones. Meanwhile, Carbonsifr is a UAE founded climate tech platform enabling businesses to take tangible climate action through their climate-tech solutions such as emissions calculation engine, AI-based reduction platform and checkout tool to engage consumers on their daily.Ahmad Ali Alwan, Deputy CEO of Hub71, said: "With each cohort, we are noticing increasing interest from high-growth startups worldwide seeking to establish their businesses and expand from Abu Dhabi. Tech entrepreneurs recognize the distinct advantages of setting up their companies in the UAE capital, which provides a favorable environment for developing and marketing innovative products and services that can transform the business world. By attracting startups with immense growth potential, Hub71 is building on its powerful community of visionary entrepreneurs who will pave the way for the future of innovation.”In addition to a customized three-month course to receive expert mentorship, tailored advice and critical support, startups joining Hub71 will also gain access to a broad network of corporate, government, investment, and talent partners operating within Abu Dhabi’s technology ecosystem, significantly heightening the prospects of securing commercial deals, investment and market growth opportunities.The 23 startups selected to join Hub71’s 13th cohort:AlGooru is an online service that connects students from various age groups with private on-demand tutors.Anecdote is a customer analytics platform that delves into each customer feedback ticket, drawing from various sources to deliver valuable insights that companies can use to make better product decisions.Aquaai is a software and hardware service company delivering data from waterways using 3D-printed, bio-inspired fishlike drones.Atiom is a behavioral tech platform and mobile solution for deskless teams, primarily focused on creating real business value for large enterprise organizations.Autobia is a B2B marketplace leveraging data to solve the infrastructure and after-sales challenges in the automotive industry.Avantgarde Finance provides digital asset investment managers a platform to plug into, launch their strategies, and grow at scale.BioSapien is a validated FDA drug delivery platform that can slow-release drugs over a specified period into tumors directly.Carbonsifr is a platform that neutralizes the carbon footprint across businesses and industries.ClearQuote Technologies utilizes computer vision to assess vehicle images automatically and identify and evaluate defects or damages.CrunchDAO leverages the power of Web 3.0 collective intelligence to create a next-generation financial insights provider.Digital First AI offers a solution to the marketing industry by providing an all-in-one AI integration.Droplinked by FlatLay is a Web 3 commerce enabler for consumers and enterprises, bridging the gap between Web 2 and Web 3 capabilities with no-code, headless solutions.FlapKap is a user-friendly tech funding platform that integrates with e-commerce, social media and advertising platforms, marketplaces, payment gateways, and Enterprise Resource Planning (ERPs). Goodable uses AI to deliver mental health programming to any screen or device. Its platform is clinically proven to improve employee mood, health and productivity by up to 96%.Lemonade Fashion is a video-first fashion and beauty platform. The social platform lets users shop directly from the video and check out from the same integrated system.Momint enables accessible funding and trade of solar photovoltaic1 (PV) investments with a built-in digital wallet, specializing in putting real assets and legal contracts on the blockchain.Netki is an identity validation provider with deep expertise in high-scale and high-fraud environments.Overnight Finance is an asset management protocol offering passive yield products based on delta-neutral strategies, primarily for conservative stablecoin investors.Param Labs is a game and blockchain development studio that delivers the highest quality blockchain-integrated games to the masses through player-owned digital assets.PriceOye Technologies is a managed marketplace for consumer electronics at the best prices with a built-in price comparison engine.Retailhub is a platform for direct integrations between retailers and aggregators.Sustainable Planet is an AgriTech company utilizing sustainable technology to combat food insecurity and climate change.Syd is a SaaS platform in predictive/preventative health tech that focuses on improving the life quality of employees as a success strategy from a business to an individual employee perspective.
https://adgully.me/post/1695/hub71-marks-year-of-impact-with-more-than-200-startups

Hub71 marks year of impact with more than 200 startups

Hub71, Abu Dhabi’s global tech ecosystem, increased its community 102 per cent to more than 200 startups in 2022 with 51 new early-stage companies relocating to the UAE’s capital to scale exponentially. By the end of 2022, Hub71 had onboarded startups that have raised almost AED 4.5 billion (US$1.2 billion) collectively in venture capital and created more than 900 jobs since its inception. In a year dedicated to driving impact for startups and Abu Dhabi, Hub71 facilitated 41 POCs for corporate partners valued at AED 160 million (US$ 43.5 million) and enabled founders to save AED 81 million (US$22 million) in costs through its Incentive Program.In 2022, Hub71 expanded its range of initiatives designed to attract tech startups worldwide to Abu Dhabi and break into the market with access to a growing pool of investors ranging from over 30 VC firms to family offices and commercial partners. The work of Hub71 is enabling the continued economic diversification of Abu Dhabi and technological advancements in the UAE as the nation progresses to become an Entrepreneurial Nation by 2031.Hub71 published its 2022 Impact Report ‘Gaining Traction, Driving Impact’, available to download here.Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Abu Dhabi has arrived at the intersection of transformation and innovation. Hub71 is the driving force behind the growth of so many successful startups and technology companies that are pushing boundaries in more than 20 sectors. By the end of 2022, our startups have raised more than AED 4 billion. With this achievement, we are now solidifying the impact we generate on a global scale by doubling down on breakthrough technologies that are poised to make transformational impact across multiple sectors.”Characterizing Abu Dhabi’s tech ecosystemCovering the period from January to December 2022, Hub71’s Impact Report shares data, insights, success stories and developments from in and around Abu Dhabi’s tech startup community. The year saw Hub71 surpass 200 startups for the first time, initiate fundraising roadshows, launch Tech Barza - an exclusive capital club for family offices and expand Ventures Lab, the Venture Building program. Nine of the 51 startups onboarded by Hub71 in 2022 raised more than AED 36.7 million (US$10 million) in funding each, reflecting AED 575 million (US$156.7 million) collectively. Its diverse entrepreneurial community has 48 nationalities represented and the companies scaling from Hub71 are present in more than 20 sectors such as ClimateTech, FinTech, HealthTech, and EdTech. Applications to join Hub71 grew 102 per cent cohort-on-cohort with almost a third sourced by referrals from partners.Ahmad Ali Alwan, Deputy CEO of Hub71, commented: “Like in the years past, our top focus remains on generating impact. Our Impact Report presents the growth and strategic development of Abu Dhabi as a global technology ecosystem that enables startups to grow and scale. As we continue our pursuit of building homegrown unicorns, our 2022 impact results reinforce that Hub71 is a platform that champions innovation among startups and technology companies while supporting the nation’s knowledge-based economy and its transformation.”In 2023, Hub71 is broadening its reach into specific technology subsectors by launching Hub71+ specialist ecosystems dedicated to unlocking the potential of technologies including Digital Assets, ClimateTech and BioTech. The tech ecosystem is diversifying the capital pool to increase flows of investment to startup founders and is elevating its presence on the global stage, capturing opportunities to create value and mutually beneficial cross-border partnerships for the benefit of founders and entrepreneurs in Abu Dhabi and internationally.
https://adgully.me/post/890/hub71-and-yahsat-to-advance-innovative-technologies

HUB71 and YAHSAT to advance innovative technologies

Hub71, Abu Dhabi’s global tech ecosystem, and Al Yah Satellite Communications Company PJSC “Yahsat” (ADX: AEA007501017), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange (ADX), today announced a collaboration to accelerate startup technology adoption in satellite communications.Through this partnership, Yahsat will work with founders in the Hub71 community to advance technological innovations that support the development of the UAE’s mobile satellite capabilities. The first contract resulting from the new partnership is an agreement between Yahsat and Hub71-based startup, Mental VR, a Virtual Reality (VR) software development company. Mental VR will provide its state-of-the-art VR technology and deliver dynamic and seamless training programs for Yahsat personnel in remote locations.The wider partnership between Yahsat and Hub71 will help identify technology startups that have the potential to advance the UAE’s space industry and strengthen satellite communication technologies. Hub71 and Yahsat are both supported by Mubadala Investment Company and will work collaboratively towards building national capabilities and contributing to the UAE’s economic growth for the next 50 years. As part of the partnership agreement, Yahsat has appointed Hub71 as its Innovation Partner.Hub71 startups will get to work alongside global experts from Yahsat and receive strategic mentorship to gain insights into satellite technologies and the space industry. Startups will also be able to explore commercial opportunities as part of Yahsat’s satellite and technology program.Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Our partnership with Yahsat reinforces our commitment to support tech initiatives that create impact for Abu Dhabi. Through this partnership, we will promote economic opportunities and strengthen the UAE's growing position as a leading global hub for technological excellence.”Ali Al Hashemi, Chief Executive Officer of Yahsat, added: “Yahsat is proud to have been a pioneer in the satellite services industry within the UAE, championing the establishment of the nation as a global hub for space tech. Our partnership with Hub71 is aligned with our commitment to build local capabilities and enhance the national space economy through collaborations with the startup ecosystem. As two UAE entities with a foundational base in Abu Dhabi, we look forward to working together to create greater opportunities for the development and enhancement of the satellite services industry.”Since its inception, Hub71 has rapidly expanded its ecosystem, which is now home to almost 200 startups working across 20 sectors. The global tech ecosystem has created a thriving business environment for founders with dedicated programs that promote increased commercial and fundraising opportunities. Hub71 startups have raised AED 3.2 billion from renowned investors globally and generated AED 2.7 billion revenues since 2019.