Abu Dhabi’s Hub71 selects 15 start-ups to join its growing tech system

Abu Dhabi’s Hub71 has selected 15 start-ups to join its tech system, increasing the total number of start-ups at the technology hub to 240.

The latest companies to join Hub71 represent various sectors including HealthTech, FinTech and EdTech and come from different countries including the UAE, US, New Zealand, Egypt, the Netherlands and the UK, Hub71 said in a statement on Thursday.

“Each start-up has undergone a rigorous selection process, having been selected based on their unique capabilities and potential to grow as a global tech company out of Abu Dhabi,” said Ahmad Alwan, deputy chief executive of Hub71.

“By attracting and scaling start-ups with solutions that make a difference in people’s lives, we aim to make an impact on Abu Dhabi’s economy and society and continue bolstering its position as a leading global innovation hub.”

Hub71, which is backed by the Abu Dhabi government and sovereign wealth fund Mubadala Investment Company, supports the growth and development of tech start-ups at all stages with incentives and access to investors, corporations, government entities and academic institutions.

Start-ups at the hub raised nearly Dh4.5 billion ($1.22 billion) in funding globally until the end of 2022, Mr Alwan told The National in March.

Hub71 more than doubled its start-up numbers to over 200 last year, securing 41 deals with corporate partners worth Dh160 million, he said.

More than 900 jobs have been created since Hub71's inception, he added.

Among the new companies joining the hub in its first cohort of this year are Exsurgo, which delivers non-pharmaceutical treatments for neurological conditions using neuroscience and data analytics; Ovasave, a start-up that provides women with access to fertility and egg-freezing services through a vetted network; Subsbase, which simplifies recurring payments for businesses; and Inovat, a digital value added tax refund solution.

Hub71 received 70 per cent more applications to join its start-up community compared to the previous cohort, including a significant increase in high-quality early-stage start-ups, it said.

List of start-ups joining Hub71

♦ Cypherleak, a cyber risk monitoring solution

♦ Elmawkaa, an automated marketplace for building materials

♦ Exsurgo, a neuroscience and data analytics company

♦ Fuze, a full-stack digital assets infrastructure platform

♦ Inovat, a digital VAT refund solution

♦ LivLyt, a subscription platform for tech devices

♦ Mashvisor, a platform that combines services for real estate investing

♦ MediJobs, a professional network for healthcare professionals

♦ Ovasave, a tech platform that provides women access to fertility services

♦ Rabbit Mart, a grocery service with tech-enabled, hyper-local fulfilment centres

♦ SubsBase, a subscription management platform for recurring payments

♦ Synapse Analytics, a data science, machine learning and AI company

♦ The Editing, a compact gene editing system

♦ Qureos, a mentorship platform for graduates transitioning to the workplace

♦ Zest Equity, a platform for all venture investors across emerging markets