Abu Dhabi-based tech accelerator Hub71 selected 19 global start-ups – 30 per cent of which are led by female entrepreneurs – for its incentive programme during the third quarter of 2020.
The companies include UAE-based virtual reality platform Mental, Bahrain-based precision farming start-up The Platform, Egypt-based biotechnology firm Proteinea, Swiss artificial intelligence company 1702ai and Palestinian social app for football fans Fanera.
Hub71’s incentive programme offers 100 per cent free housing, office space and health insurance for two years for seed companies and 50 per cent subsidies for three years for emerging companies, equating up to Dh3 million in benefits per start-up.
“The diverse nature of our latest cohort reflects our commitment to boosting Abu Dhabi’s global appeal as a world-leading tech hub suited to the best and brightest start-ups from around the world,” Hanan Harhara Al Yafei, Hub71’s chief executive, said.
Each successful start-up has demonstrated remarkable resilience during the Covid-19 pandemic, often pivoting to meet their customers’ needs during the unprecedented times, she added.
The start-ups are based in nine countries and specialise in 11 sectors, including AI, Big Data, EdTech, AgriTech and HealthTech. These sectors accounted for 30 per cent of the applications received by Hub71 during the third quarter, reflecting the demand for such technologies in response to the pandemic and to service future digitalised industries, the start-up incubator said.
“Despite Covid-19, we are still growing and managed to attract applicants from 32 countries, which suggests we are doing the right thing at the right time,” said Ms Al Yafei.
Every quarter, Hub71 selects a number of start-ups that meet its criteria to join the global tech ecosystem’s incentive programme.
“What attracted us most are the opportunities presented by Hub71 and becoming part of one of the world’s most powerful technology hubs where growing tech companies like ours would be given the chance to expand and scale globally,” said Hasna Ahmed, Emirati founder and chief executive of DoctorsAE – a platform that allows users to find the appropriate doctors and contact hospitals or clinics for consultations.
Hub71 currently has more than 75 global companies and its start-ups have collectively raised more than Dh510.1m up to the second week of last July.
Founded by the Abu Dhabi government, Mubadala Investment Company, Abu Dhabi Global Market, Microsoft and SoftBank, Hub71 is a flagship initiative of the Dh50 billion Ghadan 21 economic stimulus programme.
