Hub71 and Techstars Launch First Accelerator Program in Abu Dhabi and Invites Global Startups To Apply
- Applications open today until October 13, 2019, with the program to begin first quarter of 2020
- Through the Techstars Hub71 Accelerator, companies can develop their business model and receive investments
23 July 2019, Abu Dhabi, United Arab Emirates: Hub71 and Techstars have announced today the launch of the Techstars Hub71 Accelerator Program based in Abu Dhabi. Due to take place during the first quarter of 2020, a class of ten startups will undergo an intensive 13-week program that will conclude with an investor Demo Day with the opportunity to receive funding to grow their businesses. Applications for the program open today.
Utilizing the global networks of both Hub71 and Techstars, the program is designed to help startups from different sectors improve their products, gain access to customers, build traction via mentorship, investment, and practice pitch sessions. The program serves as an opportunity for startups to accelerate their business model and expose their ideas to well-connected global investors.
Ahmad Alwan, Head of Strategy and Corporate Development at Hub71, said: “We are working closely with the government to create the optimal environment for global startups at Abu Dhabi’s Hub71, the UAE’s launchpad for next-level growth. Following the announcement earlier this year about our partnership with world-renowned Techstars, applications kick off today and we will shortlist the best ten startups that apply. We are positive that this program will attract global founders with exceptional ideas and talent to the capital. Not only will startups benefit from high-caliber mentorship and exposure to global investors, founders will also have the opportunity to join a network of very successful and respected Techstars alumni.”
Vijay Tirathrai, Techstars Hub71 Accelerator Managing Director, said: “Techstars has been active in the UAE through various programs and has made an impact with startups, mentors, investors and local ecosystem enablers. The Techstars Hub71 Accelerator is a mentorship-driven accelerator program that will offer hands-on mentorship and funding to every startup that is successful in their application. Through this 13-week program we will provide invaluable training for startups at seed stage. Everything from pitch preparation workshops to product development exercises, assistance in business development, to funding - we’ve got it covered. We will leverage our global network of over 10,000 mentors and 300,000 alumni across 150 countries to support these start-ups, as well as Hub71’s infrastructure, world class facilities and affiliate entities like Mubadala and the Abu Dhabi Government. This is the perfect opportunity for Techstars to continue building momentum in the region and develop a culture of innovation and entrepreneurship in Abu Dhabi in partnership with Hub71.”
Applications for the program open today until October 13, 2019. The program starts January 2020 and will conclude with a Demo Day in mid-April.
As the Ghadan 21 program continues to accelerate Abu Dhabi’s new world economy, Hub71, one of its flagship initiatives, is bringing global partners like Techstars together to create the optimal environment for startups.