The Abu Dhabi Government started Hub71 as a part of the Ghadan 21 economic acceleration program. Hub71 works as a global tech hub that aims to support promising start-ups in reaching their full potential, hence boosting Abu Dhabi’s economy.
Hub71, powered by Mubadala, already had partnerships with organizations like Microsoft, Vision Fund, SoftBank and Abu Dhabi Global Market. Now they have secured two new partners in Techstars and Starburst, who’ll be on board by the end of 2019, according to Arabian Business.
Techstars is a reputed accelerator program that helps startups with mentorship, global networking and funding. On the other hand, Starburst is the world’s number one aerospace accelerator.
Hub71’s goal is to help star-ups to maximize their success regardless of their location, by providing support in forms of direct access to funds, global network program and sector expertise along with a 12-week long mentorship program.
The head of Hub71, Mahmoud Adi said, “We want to position Abu Dhabi as a leading global city for ambitious founders seeking to set up and grow their technology companies. Hub71’s mission is to remove regulatory roadblocks faced by start-ups.
"Additionally, we’re looking to build a global network of technology partners and investors around Hub71 founders to increase their chances of success.”
He also added, “Within the first month of launching Hub71, we’ve successfully tied two strong partnerships with global accelerators. Until we open for applications in September, we’ll continue to double down on our efforts to offer the world’s fastest tech company setup and excel at supporting early and growing start-ups in every aspect of their business needs.”
The co-founder and co-CEO of Techstars, David Brown said, “We are excited at the prospect of working with Hub71 in Abu Dhabi to help grow and scale the startup community. We have been active in the UAE through prior Techstars programs and welcome the opportunity to extend our global network of over 150 countries, over 10,000 mentors and over 300,000 alumni.”
Starburst decided that it would be a great decision to partner with Hub71 as Abu Dhabi continues to grow its aerospace ecosystem. The found of Starburst, Francois Chopard said, “We’re excited to collaborate with Hub71 to bring the best aerospace start-ups to Abu Dhabi. Aerospace has been one of Abu Dhabi’s top priorities for the last twenty years, including the establishment of the UAE Space Agency. Starburst will provide a three-month program for ten start-ups per year, including direct financing, world-class mentors from the aerospace industry and access to local financing."
After successfully launching programs in Montreal, Munich, Singapore, Paris and Los Angeles, Abu Dhabi has become the latest addition to Starburst’s rich global network.
In addition, a venture capital firm and global accelerator named Plug and Play has also announced Hub71 as their regional headquarters. The company is originated from the Silicon Valley.
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