"Hub71" Launches new programs to promote innovation
ABU DHABI, 22nd October, 2017 (WAM) – Hub71, the global technology ecosystem in Abu Dhabi, announced a group of new partnerships and programs during the Impact 2025 event, which was held in Abu Dhabi on the 21st and 22nd of this October, under the slogan “Impactful Momentum”.
During the event, Hub71 launched Initiate, an integrated program from idea to first product, which aims to enable founders of start-up companies in their early stages to develop viable products and growth. The program is implemented in partnership with SC Ventures and VentureOne, as it provides participants with practical experiences in building companies, designing business models, and preparing for the next stage. Expansion, and this comes within the entrepreneurship system by providing the necessary basic support before obtaining initial financing, which makes Abu Dhabi one of the few entities in the world that provides an integrated path from the idea to a company ready to enter the market.
Hub71 announced the expansion of the specialized artificial intelligence system Hub71+ AI, with the addition of 15 new strategic partners to its network, which includes 24 investors, companies and government agencies, including the Advanced Technology Research Council and BECO Capital, as two main partners, and this comes in support of the emirate’s ambitious goal of transformation. To the world’s first AI-based government by 2027, strengthening its position as a global hub for implementing responsible AI innovation. Hub71 also announced a series of new strategic partnerships with leading institutions in Abu Dhabi to support economic diversification and expand access to financing and pilot projects in various sectors, as it signed an agreement with the Abu Dhabi Early Childhood Authority to integrate the Anjal Z program into the Access program, giving it five seats in Group 19 and pilot funding worth 3 million dirhams for startups that… Develops innovative solutions related to early childhood by the Abu Dhabi Early Childhood Authority.
The agreement also provides a comprehensive support package that includes incentives worth 500 thousand dirhams, and the opportunity to access the Hub71 network and the network of investors and talent market partners in Abu Dhabi, which enhances its commercial opportunities and qualifies it for rapid expansion from the Emirati capital. In partnership with the Abu Dhabi Global Market’s “Nomu” platform, startups can now easily access working capital through the Purchase Financing Initiative, which aims to enhance liquidity and accelerate the growth of small and medium enterprises in the UAE.
Ahmed Ali Alwan, CEO of Hub71, stressed that the innovation system in Abu Dhabi is characterized by cooperation and a shared vision, and the initiatives launched during the event reflect the extent of progress in creating growth opportunities for entrepreneurs, and enhancing Abu Dhabi’s role as a center for launching startups, noting their continued construction of an integrated system that embraces innovation and ensures its sustainability, and received eight leading startup companies. In the field of Web 3 from Hong Kong as part of the joint merger program between Hub71 and Hong Kong, which strengthens Abu Dhabi’s position as a major gateway for international companies aspiring to expand into the Middle East markets.
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