Hub71 has joined forces with Silicon Valley non-profit organisation TechWadi to attract US start-ups and venture capitalists to Abu Dhabi.
The partnership will give US start-ups and investors priority access to Hub71’s ecosystem and incentive programmes, as well as promote cross-border knowledge sharing and investments, the Abu Dhabi tech accelerator said on Thursday.
“Our partnership with TechWadi creates value for both our international communities of founders as well as any US start-ups looking for growth opportunities in the Middle East,” Nader Museitif, head of partnerships and business development of Hub71, said.
The Hub71 start-ups will benefit by gaining direct access to US VCs and mentors within the TechWadi network, including Google Venture, 500Startups and Silicon Valley Bank. Its mentors come from top companies such as Apple, Facebook, Google and Salesforce.
Companies on both sides will gain support, access to capital and market opportunities to scale their businesses abroad, Mr Museitif said.
“In our pursuit of staying ahead of the curve, we are continually assessing and improving our offering and quest to help start-ups to thrive.”
Launched today, the Hub71 x TechWadi programme will see the US start-ups that have chosen Abu Dhabi as their springboard for global growth pitching for generous incentives. These include free housing, health insurance and office space for up to three years, equating up to Dh3 million per start-up.
“We are excited by the partnership … and the opportunity to help empower entrepreneurs through access to resources, mentorship, training and access to capital between Silicon Valley and Abu Dhabi,” said Sharif El Badawi, board member of TechWadi and managing partner at 500 Startups Middle East and North Africa.
TechWadi will also host a pitch day for selected Hub71 start-ups that will vie for US VCs and investors.
“Abu Dhabi is becoming a magnet for ambitious US-based tech start-ups looking for growth opportunities within a progressive, future-led and flexible regulatory environment that enables our portfolio companies to expand their target markets earlier in their journey,” said Alaa Halawa, head of US ventures at Mubadala Investment Company.
Hub71, whose start-ups have collectively raised more than Dh510.1m up to the second week of last month, was set up in March 2019 by the Abu Dhabi government, Mubadala Investment Company, Abu Dhabi Global Market, Microsoft and SoftBank.
It has more than 50 international start-ups, of which 10 per cent were founded in the US.
The accelerator is a flagship initiative of the Dh50 billion Ghadan 21 economic stimulus programme. In May, the Abu Dhabi government also rolled out a Dh535m Ghadan Ventures Fund, which targets start-ups and is being managed by Abu Dhabi's state holding company ADQ.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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Michael Beckley, Cornell Press
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
MWTC info
Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.
The specs
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Engine: 5-litre V8
Transmission: Eight-speed auto
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Fuel economy, combined: 12.8L/100km
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
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Engine: 1.2L inline four-cylinder
Transmission: Four-speed auto
Power: 86hp @ 6,000rpm
Torque: 122Nm @ 4,000rpm
Fuel economy, combined: 6.0L / 100km
MATCH INFO
Champions League quarter-final, first leg
Manchester United v Barcelona, Wednesday, 11pm (UAE)
Match on BeIN Sports
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
